Setback for RCB after Dale Steyn injury rules him out of IPL

Agencies
April 25, 2019

Bengaluru, Apr 25: Royal Challengers Bangalore (RCB) received a major setback on Thursday as their pace spearhead Dale Steyn was ruled out of the remainder of the Indian Premier League (IPL) season due to a shoulder injury.

Steyn had replaced an injured Nathan Coulter-Nile in the squad. The South African pacer featured in only two matches for his team. RCB won both matches Steyn featured in.

"Dale Steyn has been prescribed with ample rest due to inflammation in his shoulder. On account of the state of his health, Dale will not be available to take part further in the ongoing season of IPL," RCB Chairman Sanjeev Churiwala said in a statement.

"His presence has helped the team immensely and we are very thankful for the inspiration and passion that he brought to the squad. The team will deeply miss his energy and presence around. We wish him a speedy recovery and all the luck for all future endeavours," he added.

Before Steyn's arrival, RCB had lost the first six games of the season. His introduction to the team saw RCB's fortunes change and the Bengaluru side has now won three games in a row and is in contention to make it to the playoffs stage in the tournament. 

The South African speedster added pace to the Bengaluru bowling attack and picked up four wickets at an economy rate of 8.69. He picked up 2 for 40 against Kolkata Knight Riders and 2 for 29 against Chennai Super Kings.

Steyn previously represented RCB in the first three editions of the IPL. He has been named in South Africa's 15-member World Cup 2019 squad and will hope for a speedy recovery with the showpiece event, slated to be held in England and Wales, just around a month away.

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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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