Indian athletes at Rio provided life insurance cover of Rs 1 crore

April 24, 2016

New Delhi, Apr 24: In a first of its kind move, the Rio Olympics-bound Indian athletes were on Saturday presented with a life insurance cover worth Rs 1 crore even as the Indian Olympic Association roped in three sponsors in its quest for financial independence.

ioc

Edelweiss Tokio Life Insurance of financial conglomerate Edelweiss Group, which will be the principal sponsor of the Indian contingent at Rio Olympics, offered a life insurance cover of Rs 1 crore for each athlete representing India at the Rio Olympics.

“We are happy to announce that each of the athletes who will represent India in Rio Olympics will be given a life insurance cover of Rs 1 crore,” Edelweiss Financial Services Executive Director Rujan Panjwani said at an event to announce Bollywood actor Salman Khan as goodwill ambassador of the Indian contingent for Rio Olympics.

IOA Secretary General Rajeev Mehta hoped that the Edelweiss Group will continue to provide the life insurance cover to future Olympics also.

“We have discussed this (life insurance for future Olympians) and they are positive about this. I hope they continue to provide life insurance cover to Indian athletes in future Olympics,” Mehta said.

Besides Edelweiss, which will be the principal sponsor, the IOA also roped in sporting goods company Li Ning as the apparel partner and Herba Life as the nutrition partner.

“We have roped in three sponsors for the Indian Olympic contingent. This has set the ball rolling in our quest for the financial independence of the IOA and to sell IOA as a brand. This will allow the IOA to realise its dream of giving more funds to the NSFs and the athletes so that they can win more medals in the Olympics,” IOA President N Ramachandran said.

IOA’s official marketing agency IOS Sports and Entertainment helped it in finding the official partners.

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News Network
April 14,2020

Melbourne, Apr 14: As all sporting action across the world has come to a halt due to the coronavirus pandemic, Australian bowlers are pondering as to how Indian skipper Virat Kohli might play in front of no spectators.

India and Australia are scheduled to play a four-match Test series later this year, and it is being speculated that the series might end up taking place without any crowds due to the COVID-19 pandemic.

Australian spinner Nathan Lyon on Tuesday said that it would be interesting to see how Kohli goes about it if he does not get a chance to get the audience behind him.

"He is probably good enough to adapt to any scenario. But I was talking to Mitch Starc the other day and we actually said that if we are playing with no crowd, it'll be quite amazing to see Virat trying to rev up the empty seats," cricket.com.au quoted Lyon as saying.

"It is going to be a little bit different, but Virat is a superstar. He will be able to adapt to any climate that we are able to play in," he added.
During the 2018-19 series, India managed to defeat Australia in Australia for the first time in a Test series.

Australia, at that time were without the services of David Warner and Steve Smith. However, the series later this year promises to be a mouth-watering prospect.

"I am excited about the prospect of India coming out to Australia, it's up there with the biggest series alongside the Ashes. They are an absolute powerhouse of the cricket world, and to have those guys out here is going to be fantastic. Playing in front of crowds or no crowds is out of our control, we have got to follow the advice of all the amazing medical people around the world," Lyon said.

"I have not thought about no crowds or massive crowds, it is just about the opportunity of playing against India again. They had the wood over us last time they came over here but we are a much stronger Australian cricket side at the moment, and I am just unbelievably excited about playing them here at home," he added.

Lyon was slated to represent Hampshire in County Championship this year, however, his stint was called off last week due to COVID-19.
He is Australia's third-highest wicket-taker in the longest format of the game as he has total of 390 wickets in Test cricket.

Lyon was last seen in action in the Big Bash League for Sydney Sixers.

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Agencies
April 25,2020

London, Apr 25: Former Australian cricketer Graeme Watson who was fighting cancer, has died at the age of 75.

Primarily a middle-order batsman and a medium-pace bowler, he featured in five Tests from 1967 to 1972 and two ODIs in 1972, ESPNcricinfo reported.

The all-rounder earned the national call during the 1966-67 tour of Rhodesia and South Africa. Watson slammed a half-century in the first innings of the second Test of the series.

However, the medium-pace bowler was ruled of the next test after suffering an ankle injury. He returned for the fourth Test in Johannesburg where scalped his career-best 2 for 67 but failed to leave a mark with the bat as Kangaroos lost the series.

In 1971-72 he moved to Western Australia and played a major role in their Sheffield-Shield win in 1971-72, 1972-73, and 1974-75 seasons.

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News Network
June 19,2020

Jun 19: The BCCI is open to reviewing its sponsorship policy for the next cycle but has no plans to end its association with current IPL title sponsor Vivo as the money coming in from the Chinese company is helping India's cause and not the other way round, board treasurer Arun Dhumal said on Friday. Anti-China sentiments are running high in India following the border clash between the two countries at Galwan valley earlier this week. The first skirmish at the India-China border in more than four decades left at least 20 Indian soldiers dead. Since then, calls have been made to boycott Chinese products.

But Dhumal said Chinese companies sponsoring an Indian event like the IPL only serve his country's interests.

The BCCI gets Rs 440 crore annually from Vivo and the five-year deal ends in 2022.

"When you talk emotionally, you tend to leave the rationale behind. We have to understand the difference between supporting a Chinese company for a Chinese cause or taking help from Chinese company to support India's cause," Dhumal said.

"When we are allowing Chinese companies to sell their products in India, whatever money they are taking from Indian consumer, they are paying part of it to the BCCI (as brand promotion) and the board is paying 42 per cent tax on that money to the Indian government. So, that is supporting India's cause and not China's," he argued.

Oppo, a mobile phone brand like Vivo, was sponsoring the Indian cricket team until September last year when Bengaluru-based educational technology Byju's start-up replaced the Chinese company.

Dhumal said he is all for reducing dependence on Chinese products but as long as its companies are allowed to do business in India, there is no harm in them sponsoring an Indian brand like the IPL.

"If they are not supporting the IPL, they are likely to take that money back to China. If that money is retained here, we should be happy about it. We are supporting our government with that money (by paying taxes on it)."

"If I am giving a contract to a Chinese company to build a cricket stadium, then I am helping the Chinese economy. GCA built the world's largest cricket stadium at Motera and that contract was given to an Indian company (L&T)," he said.

"Cricketing infrastructure worth thousands of crores was created across country and none of the contract was awarded to a Chinese company."

Dhumal went on to say the BCCI is spoilt for choice when it comes to attracting sponsors, whether Indian or Chinese or from any other nation.

"If that Chinese money is coming to support Indian cricket, we should be okay with it. I am all for banning Chinese products as an individual, we are there to support our government but by getting sponsorship from Chinese company, we are helping India's cause."

"We can get sponsorship money from non-Chinese companies also including Indian firms. We can support our players any way but the idea is when they are allowed to sell their products here, it is better that part of money comes back to the Indian economy."

"The BCCI is not giving money to the Chinese, it is attracting on the contrary. We should make decision based on rationale rather than emotion," he added.

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