Modi govt says 'No' to bilateral cricket with Pakistan

May 29, 2017

New Delhi, May 29: Sports Minister Vijay Goel today made it clear that the government will not allow any bilateral cricket between India and Pakistan until the time "cross-border terrorism" does not stop.

pakindia

The minister's firm statement comes on a day the BCCI and the Pakistan Cricket Board are meeting in Dubai to discuss their bilateral ties, which have remained suspended since 2012 due to diplomatic tensions after terror attacks in India.

"BCCI should speak to the government before giving any proposal to Pakistan. I have made it clear that bilateral cricket with Pakistan is not possible till the time there is cross-border terror. We have, however, no say on multilateral events (ICC tournaments)," Goel told reporters here.

The PCB has already sent a legal notice to BCCI claiming damages in tune of USD 60 million (Rs 387 crore approx) for allegedly not honouring the MoU that had stated five bilateral series in the cycle between 2015-2023.

It is learnt that the BCCI officials led by joint secretary Amitabh Chaudhary will explain to their PCB counterparts that the series can't be held without government permission and would also request them to withdraw the case.

If Pakistan refuses to budge, it is learnt that now way will BCCI pay any compensation in this case.

The cash-strapped PCB's finances heavily depend on a series with India which would mean a financial windfall for the nation, where no international cricketing activity has taken place since terrorist attack on Sri Lankan cricket team.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.