IOA appoints Olympic gold-medallist Abhinav Bindra as goodwill ambassador

April 30, 2016

New Delhi, Apr 30: After the uproar over Salman Khan's appointment as the good will ambassador for the Rio 2016 Olympics, the Indian Olympic Association (IOA) has now roped in shooter and 2008 Olympic gold-medalist Abhinav Bindra as well.

Abhinav
The IOA has also approached Tendulkar and Oscar-winning music composer AR Rahman with a similar offer.

India's first and only individual Olympic gold-medallist, Bindra said he received IOA's invitation on Friday and immediately agreed for the role.

"Received a letter this afternoon from the President and Secretary General of the IOA inviting me to be a goodwill ambassador. I am humbled that they thought I am worthy enough for this honour. I respectfully accept this with gratitude," Bindra said in a series of tweets along with an image of the letter.

The rifle shooter, who is also a former World Championships gold-medallist, will be competing in the Rio Games come August and said he would write to all the Olympics-bound athletes to motivate them.

Tendulkar and Rahman, however, are yet to respond to the IOA's offer.

Bindra's appointment was earlier backed by Kolkata Knight Riders (KKR) captain Gautam Gambhir, who said that there was no real shortage of sports personalities in the country.

"I think there is no shortage of real sportsmen in this country. People have done massive things for the country and for the Olympic sports as well. I would have liked someone like Abhinav Bindra, someone who could have been a great ambassador," Gambhir was quoted as saying according to IANS.

Salman's appointment as the goodwill ambassador for the Olympics had left the sports community divided, with legends such as Milkha Singh strongly opposing the move. However, Salman also found some support from the fraternity, including batting legend and former India captain Sourav Ganguly.

"Salman is popular and would bring visibility to the Rio Olympics, you cannot deny that. He is an entertainer. It is absolutely fine to have him as the ambassador. I think they can have other ambassadors as well, it’s nowhere written that they can only have one ambassador," said Ganguly.

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News Network
March 22,2024

IPL.jpg

The start of the world’s most lucrative cricket tournament in India is presenting investors with another big opportunity to cash in on the sport, months after the world’s most populous nation hosted the Cricket World Cup.

The eight-week long Indian Premier League begins March 22 for its 17th season. Since its inception, the fast-paced cricket tournament has become a corporate juggernaut to rival the National Football League in the US and the English Premier League in value.

Just as October’s Cricket World Cup boosted consumption in India for months, fans are expected to flock to restaurants, pubs and food delivery platforms over the duration of the tournament. This year’s IPL also coincides with general elections that will last for six weeks starting April 19, a period when companies are expecting higher food and drink sales as people flock to rallies and other events.

“There’s going to be a lot of spending,” said Madan Sabnavis, chief economist at Bank of Baroda. “IPL, as well as the election, gives a three-month corridor with enhanced economic activity.”

Stocks in India such as McDonald’s franchise operator Westlife Foodworld Ltd. and peer Sapphire Foods India Ltd. gained ahead of the first match on Friday, as well as hotels and beverage makers. Packaged-food companies could also stand to benefit from the IPL craze, said Sachil Bobade, an analyst at investment firm Dolat Capital Market.

The IPL ecosystem was valued at $11 billion (Rs 91,721 crores) in 2023, including the value of media rights and sponsorships, according to Indian valuation consulting firm D&P Advisory.

The league is also attracting record sums of money from sponsors and broadcasters. Conglomerate Tata Group won the title sponsorship rights of the tournament in January for a record 25 billion rupees ($300 million). Billionaire Mukesh Ambani’s media venture secured the digital streaming rights in 2022 for five years for $2.7 billion, while Walt Disney Co. paid roughly the same for TV rights.

“There was a serious amount of bidding even this year,” said Vinit Karnik, head of entertainment, esports and sports at media agency GroupM South Asia. “I see growth in IPL in double digits year-on-year,” he adds.

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