Saina Nehwal appointed member of IOC's Athletes' Commission

October 18, 2016

Hyderabad, Oct 18: In a rare honour for an Indian sportsperson, star shuttler Saina Nehwal has been appointed as a member of the International Olympic Committee's (IOC) Athletes' Commission.

Saina
Saina has received a letter to the effect from the IOC President Thomas Bach last night.

"Following your candidature for the elections of the IOC Athletes' Commission during the Olympic Games Rio 2016, it is with great pleasure to appoint you in consultation with the Chair, as Member of the Athletes' Commission," the letter said.

The Athletes' Commission is chaired by Angela Ruggiero and it comprises nine vice presidents and 10 other members. The next meeting of the Commission is scheduled for November 6.

Saina's appointment to the prestigious panel has come just when she is set to resume practice after recovering from a knee injury.

Saina, who sustained an intra-articular injury (inside the joint) to her right knee, had said in an interview to PTI last month that she hoped play in tournaments in November if everything went well.

Saina's father Harvir Singh expressed happiness over her appointment to the Olympic panel.

"I have become very emotional. It is a matter of great privilege for us that they recognised her and to be a part of the IOC. They thought that she could be of some use. She lost (a medal in the Olympics) because of the injury. We are proud of her," Harvir Singh said.

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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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