Saina, Chong Wei rule the roost at IBL auction

July 23, 2013

Chong_Wei

New Delhi, Jul 23: Saina Nehwal is the top female sportsperson of the country. If you wonder how much that translates into real money terms, think $120,000.

Who got whom in IBL auction

For that is the amount Hyderabad Hostshots shelled out for her at the inaugural Indian Badminton League auction in the Capital on Monday.

It translates into about Rs 71 lakh, not too much if you consider that some of the cricketers have gone for ten times more at the IPL auction.

But if you consider that the Hostshots splurged 43 per cent of their total purse of $275,000 to buy 10 players, you will understand how precious she really is.

The London Olympics bronze medallist was undoubtedly the biggest Indian draw and the team from her city went out of its way to keep the star at home.

Only one shuttler fetched a bigger amount under auctioneer Bob Hayton's gavel, and that is Malaysia's World No. 1 Lee Chong Wei. Mumbai Masters bid $135,000 for his services, warding off fierce competition from the likes of Banga Beats and Delhi Smashers.

The Hotshots owners were, of course, the ones who sported the biggest smiles on the day. Rajeev Kamineni, the executive director of PVP Group, was delighted to corner two icons from the badminton world: Saina and Taufik Hidayat.

"Saina and Taufik have caught the attention of the world for close to a decade now. It is great that we have them on board," Kamineni, who bought Taufik at the base price of $15,000, said on Monday.

The Hyderabad franchise also shelled out generously for Ashwini Ponappa's new doubles partner Pradnya Gadre, who went for $46,000, up from her base price of $10,000.

Their last two buys Kanthi Visalakshi and Shubhankar Dey were bought for $3,000 each because they had only that much left to buy the reserve players.

Mumbai, after blowing away nearly half of their purse on Chong Wei, had to settle for the likes of Manu Attri ($10,000) and Sikki Reddy ($11,000) to make up the numbers.

Others like Lucknow Warriors purposely didn't go above a certain limit even for the 'icon players', with their biggest buy being young PV Sindhu for $80,000.

"Some of the teams don't understand that they have to win five different types of matches - men's singles, women's singles, men's doubles, second men's singles and mixed doubles - to progress in this tournament. Players like Chong Wei and Saina are no doubt good buys but will only win you one match each. If we had bid as aggressively, we probably wouldn't have had a balanced side like we have now," Sahara India spokesperson Abhijit Sarkar told TOI on Monday.

The auction, though, was not without its controversies. The 2010 Delhi Commonwealth Games women's doubles champions Jwala Gutta and Ponnappa went to Delhi Smashers and Pune Pistons at $31,000 and $25,000 after their base price was reduced from $50,000 to $25,000 following a meeting of all the franchises on Sunday night.

IBL's decision not to have women's doubles event in the tournament was probably the reason behind Gutta and Ponnappa's slide. "Last night, we had a closed bidding but then two players Jwala and Ashwini went unsold, so the women's doubles was scrapped and it was decided that their base price be slashed to $25,000," said Ashish Chadha, CEO of Sporty Solutionz, the commercial partner of IBL.

"Since Jwala and Ashwini were signed as icon players for the women's doubles, the IBL decided to safeguard their interest by paying them the deficit amount and give them a chance to fetch a bigger amount in the auction," said Chadha.

The player contracts will be valid for two years. The organisers claimed that the players are eligible for 15 per cent hike on this amount next year but some of the franchise owners were unaware of the clause.

Among other big Indian buys were Commonwealth Games bronze-medallist Parupalli Kashyap, picked up by Banga Beats for $75,000 while little-known Maneesha went for $26,000, more than six times her base price of $4,000. World No. 7 Tinh Minh Nyugen and world No. 4 Juliane Schenk were bought by Pune for $44,000 and $90,000.

Lee Chong Wei: $135,000

The Malaysian is the current World No.1. After Lin Dan, Lee Chong is considered to be the best men's singles player of his generation. Aged 30, Lee Chong has failed in his bid to win an Olympic gold in Beijing (2008) and London (2012). Lin Dan ensured that the gold travelled to China and Lee had to be satisfied with silver. He will lead the charge for Mumbai Masters.

Saina Nehwal: $120,000

Currently ranked World No.3, Saina reached the highest point of her career when she won the Olympic bronze medal in London 2013. She almost single-handedly challenged China's domination and scripted some memorable victories over Li Xuerui, Wang Shixian and Wang Lin. She will represent the Hyderabad Hosts, her home team.

Juliane Schenk: $90,000

She brings a lot of German spunk in her game. Retrieving shots from almost impossible angles is the hallmark of her game. She is the best female player to have emerged from Germany and crowned her career when she won the Singapore Open Superseries title in 2012. She is ranked 4th in the world.

Pradnya Gadre: $46000

She made news when Ashwini Ponnappa chose to partner her in the Indian doubles team breaking her long-term relationship with Jwala Gutta. Currently Ashwini and Pradnya are ranked World No. 27. The Nashik girl won both the doubles titles - mixed and women's - in the VV Natu Memorial All-India ranking tournament that ended on Sunday. She is a good buy for Hyderabad.

PV Sindhu: $80000

It is not surprising that PV Sindhu has fetched such a huge price. She is India's best bet after Saina Nehwal. At 18, she has already beaten 2012 Olympic gold medalist Li Xuerui in the China Masters Super Series. If he gets to play against Saina, it would be an interesting feature of the IBL.

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News Network
February 5,2020

New Delhi, Feb 5: IPL franchise Kolkata Knight Riders (KKR) has denied any financial dealings with the controversial Rose Valley Group except for it being a sponsor of the side's official jerseys in 2012 and 2013.

KKR issued the clarification after the Enforcement Directorate (ED) attached Rose Valley's assets worth over Rs 70 crore on Monday. The attached assets include Rs 11.87 crore bank deposits of Knight Riders Sports Pvt Ltd, that owns KKR, in connection with a money laundering probe.

The franchise said it hopes for the matter to be resolved expeditiously.

"Rose Valley Hotels was one of KKR's IPL jersey sponsors for IPL seasons 2012 and 2013. Rose Valley had paid KKR an approx. amount of Rs 11.87 crore as sponsorship fees," KKR CEO Venky Mysore said in a statement.

"KKR had no other dealings with the Rose Valley Group including Rose Valley’s micro finance business," he added.

The statement added that in July last year, KRSPL (Knight Riders Sports Pvt Ltd), received a "witness summon" from the ED in connection with an investigation relating to the Rose Valley Group, particularly its micro finance business.

"The ED continues the investigation of Rose Valley. KKR continues to cooperate with the authorities in all respects," Mysore said.

"As part of the investigative process, sometime in October 2019, the ED placed a lien on the said amount earlier paid by Rose Valley to KKR," he asserted.

The directors of KRSPL include Shah Rukh Khan's wife Gauri Khan, actor Juhi Chawla's husband Jay Mehta, Mysore and two others.

Mysore was questioned in this case by ED's Kolkata office in October last year.

Apart from KRSPL, the ED attached properties of two other entities -- Multiple Resorts Pvt. Ltd. and Kolkata's St Xavier's College on Monday.

The ED registered an FIR against the Rose Valley group, its chairman Gautam Kundu and others under the Prevention of Money Laundering Act in 2014.

Kundu was arrested by the agency in Kolkata in 2015 and is in judicial custody at present.

The ED has filed multiple charge sheets in Kolkata and Bhubaneswar courts in this connection and total attachments are now worth Rs 4,750 crore.

The group has been charged by the ED and the CBI with "illegally and fraudulently collecting deposits from public with the intention to cheat them by falsely promising high returns on their investment", thereby perpetrating a ponzi-like fraud.

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Agencies
August 6,2020

New Delhi, Aug 6: The BCCI on Thursday suspended the IPL title sponsorship deal with Chinese mobile phone company Vivo for the event's upcoming edition amid heightened tensions in Sino-India diplomatic ties.

The BCCI sent out a one-line statement, without giving details, saying that Vivo would not be associated with the IPL this year. "The Board of Control for Cricket in India (BCCI) and vivo Mobile India Pvt Ltd have decided to suspend their partnership for Indian Premier League in 2020," the statement said.

Meanwhile, Vivo released its own statement saying that the two entities "have mutually decided to pause their partnership for the 2020 season".

Vivo won the IPL title sponsorship rights for five years from 2018 to 2022 for a reported sum of Rs 2,190 crore, approximately Rs 440 crore per annum.

The two parties are now working out a plan in which Vivo might come back for a fresh three-year period starting 2021 on revised terms.

However, a top BCCI official offered a different view. "Here we are talking about diplomatic tensions and you expect that after November, when IPL ends and before the next IPL starts in April 2021, there would be no anti-China sentiment? Are we serious?" a veteran BCCI official said on conditions of anonymity.

The anti-China sentiment in the country peaked after the violent face-off between the Indian and Chinese troops in eastern Ladakh. India lost 20 soldiers in the clash, while China also acknowledged unspecified casualties.

The stand-off at the Line of Actual Control (LAC) caused outrage across India with several calls for boycotts of Chinese companies and products.

The BCCI is now likely to float a tender for new IPL title sponsors as mandated by its constitution. The glitzy T20 league starts on Sept. 19 in the UAE, forced out of India due to the rising COVID-19 cases.

The new development is in stark contrast to what came out of Sunday's IPL's Governing Council meeting, where it was decided that Vivo, along with all the other sponsors, will remain on board.

This was after the BCCI had announced in June that all sponsorship deals pertaining to IPL will be reviewed in the aftermath of the clash in the Galwan Valley.

However, after Sunday's meeting, there was a huge backlash on social media about the BCCI holding on to Vivo.

Both parties then began thrashing out an amicable separation plan, at least for this season.

However, the end of this deal could spell losses for the franchises as they get a substantial share from the sponsorship pool. Half of the annual Vivo sponsorship money is distributed equally among eight franchises, which comes to Rs 27.5 crore.

"As of now, it will be very difficult for the BCCI to match the sponsorship amount at such short notice. Therefore, both BCCI and the franchises should be prepared to lose out on some money -- BCCI more but each franchise from Vivo's exit will potentially lose 15 crore," the official said.

"This year will be difficult for everyone but the show must go on," the official said.

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Agencies
January 9,2020

Atlanta, Jan 9: Top tennis stars like Roger Federer, Rafael Nadal, and Serena Williams will be playing an exhibition match to raise funds for Australia's bushfire relief.

Apart from these three, Naomi Osaka, Nick Kyrgios and Stefanos Tsitsipas have also confirmed their availability for the match, CNN reported.

The match will be played on January 15 at Melbourne's Rod Laver Arena. The Australian Open Rally for Relief will be donating the proceedings from the ticket sales to the bushfire relief efforts.

Tennis star Maria Sharapova had also announced on Wednesday that she had left 10 signed pairs of her tennis shoes in her Brisbane hotel that members of the public could buy with a donation to the Australian Red Cross.

"Brisbane, I have signed ten pairs of my tennis shoes, left them at the @BrisbaneTennis
desk at the Westin Hotel, alongside a donation envelope for fire rescue efforts.They're yours to keep,we just ask you to donate AUD 300 a pair. All money going directly to Red Cross," Sharapova tweeted.

Earlier, former Australian spinner Shane Warne on Monday had announced to auction his Baggy Green cap to raise funds for victims of devastating bushfires in Australia.

Taking to Twitter, Warne made the announcement and posted a statement.

"The horrific bushfires in Australia have left us all in disbelief. The impact these devastating fires are having on so many people is unthinkable and has touched us all. Lives have been lost, homes have been destroyed and over 500 million animals have died too," Warne wrote.

"Everyone is in this together and we continue to find ways to contribute and help on a daily basis. This has led me to auction my beloved baggy green cap (350) that I wore throughout my Test career," he added.

Warne joined a growing list of cricketers to raise money for the bushfire victims. Australian players Chris Lynn, Glenn Maxwell and D'Arcy Short have already announced that they will donate AUD 250 each for every six they hit in the ongoing Big Bash League (BBL) to support bushfire victims.

Athletes from other sports too joined the movement as tennis stars Maria Sharapova and Novak Djokovic decided to donate 25,000 dollars each for Australia's bushfire relief fund.

Wildfires have been raging across Australia for months, killing 23 people, burning about 6 million hectares (23,000 square miles) of bushland and killing a billion animals.

Naval and air rescue operations were launched on Friday as mass evacuations of towns at risk of being engulfed by flames got underway.b

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