Saudi Arabia eyes $5 billion stake in $30 billion Indian Premier League

News Network
November 3, 2023

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Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the Indian Premier League (IPL), the world's richest cricket league, Bloomberg News reported on Friday, citing people familiar with the matter.

Saudi Arabian Crown Prince Mohammed bin Salman's advisers have spoken to Indian government officials about moving the IPL into a holding company valued at as much as $30 billion, the report said.

The talks were held when the crown prince visited India in September, the report said, adding that the kingdom proposed investing as much as $5 billion into the league and help lead an expansion into other countries.

The Board of Control for Cricket in India (BCCI), the custodian of the IPL, did not immediately respond to Reuters' request for a comment.

IPL is one of the richest leagues in the world and has been attracting top players and coaches to India since its inaugural edition in 2008. 

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News Network
January 3,2025

Mangaluru: The long-awaited DC office complex in Padil is nearing completion, with plans underway to inaugurate the facility during Chief Minister Siddaramaiah’s visit to Mangaluru for the State Olympics meet on January 17. Karnataka Legislative Assembly Speaker U T Khader inspected the site and emphasized the urgency of completing the ₹75 crore project within the set deadline.

“We aim to finish the work by January 10 so that the inauguration can align with the Chief Minister’s visit. However, the final decision will depend on the project’s readiness by then,” Khader stated during his site inspection.

The ambitious project, reflecting the rich Tulu Nadu heritage in its design, received administrative approval on April 28, 2015. Following delays, the work order was issued on February 3, 2018, and construction began on March 17, 2018. Khader assured that the building's traditional architecture will extend to its surroundings, including an aesthetically designed entrance gate.

Spread across 5.89 acres, the complex boasts a total plinth area of 21,054.88 sq m, encompassing multiple levels:

Basement: 4043.88 sq m
Ground Floor: 7553.36 sq m
First Floor: 4158.94 sq m
Second and Third Floors: 2561.28 sq m each
Roof 1 and 2: 88.07 sq m each

The facility aims to centralize government services by housing most departments—except Revenue and RDPR—under one roof. This initiative, Khader highlighted, will streamline operations, save time, and enhance convenience for both officials and the public.

"Officials have been directed to expedite the remaining work, ensuring its timely completion," he added, reaffirming the government’s commitment to creating a functional and visually iconic administrative hub for the region.

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News Network
January 8,2025

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Mangaluru: The Tannirbhavi beach stretch up to the forest department's Tree Park is on the brink of a remarkable transformation under the ‘One Beach, One Destination’ initiative. This ambitious project aims to elevate the beach into a top-tier tourist hotspot through comprehensive upgrades and strategic developments.

Deputy Commissioner Mullai Muhilan MP shared updates during a press briefing on Tuesday, revealing that fresh tenders have been floated for maintaining the main beach. The technical evaluation of tenders for the Tannir Bhavi Blue Flag Beach is nearing completion, with the financial bids set to open shortly. “We are pleased to see major players participating in the tender process,” the DC remarked.

For the main beach, the maintenance contract will span 10 years. Meanwhile, the Blue Flag Beach’s successful bidder will face a progressive financial model—starting with a Rs 50 lakh payment in the first year, escalating to Rs 2 crore by the 10th year, alongside a minimum 5% revenue share for the administration. “Upon completion of the development, the beach will feature continuous activities to enhance its appeal,” he added.

Approximately 90% of the beach’s development work is already complete. Eco-friendly initiatives such as waste management systems and solar installations are operational at the Blue Flag Beach. While entrance work by Mangaluru Smart City Limited is ongoing, the beach remains accessible to the public. Entry fees, set in accordance with Blue Flag guidelines, aim to support sustainable maintenance efforts.

The ‘Blue Flag’ certification represents a global standard in eco-tourism, ensuring clean bathing water, state-of-the-art amenities, safety measures, and sustainable development. Karnataka’s Padubidri and Kasarkod beaches are among the few in India to hold this prestigious certification.

Mangaluru Smart City Limited is spearheading the development of the 1.8-acre area, with an investment of approximately Rs 16 crore. Once completed, the Tannirbhavi Beach is expected to stand out as a vibrant and eco-friendly destination, drawing tourists and locals alike.

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News Network
January 9,2025

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Who will be the next captain of the Indian cricket team? After India's 1-3 loss in the Border-Gavaskar Trophy, this question has become the hottest topic in Indian cricket circles. Current skipper Rohit Sharma, despite stepping aside for the final Test, has confidently declared that he is not stepping down as captain. However, with India not playing another Test until June (in England), questions loom over whether the BCCI selectors will retain Rohit for the next World Test Championship cycle.

Amid the debate, former Indian cricketer Mohammad Kaif has cautioned against appointing star pacer Jasprit Bumrah as the full-time captain. Kaif emphasized that Bumrah’s primary focus should remain on taking wickets and maintaining his fitness. “BCCI should think twice before appointing Bumrah as a full-time captain. He needs to solely focus on taking wickets and staying fit. Added leadership responsibility and heat-of-the-moment decisions can lead to injuries and shorten an outstanding career. Don’t kill the golden goose,” Kaif posted on X (formerly Twitter).

However, legendary Indian batter Sunil Gavaskar has offered a contrasting perspective. Gavaskar recently expressed confidence in Bumrah’s ability to lead the Indian Test team in the near future. Speaking on Channel Seven, Gavaskar praised Bumrah’s calm demeanor and leadership qualities. “He will be the next man because he leads from the front. He has an aura of leadership but doesn’t pressurize players. Some captains put undue pressure on their teammates, but Bumrah allows others to perform their roles without micromanagement,” Gavaskar remarked.

Bumrah showcased his leadership skills during the Border-Gavaskar Trophy, where he captained India in two Tests, including the series-opening match in Perth, which India lost by 295 runs. Despite the series defeat, Bumrah’s individual performance stood out. He claimed 32 wickets in five matches at an impressive average of 13.06 and a strike rate of 28.37, earning him the Player of the Series award.

Gavaskar highlighted Bumrah’s brilliant handling of the fast-bowling unit, often seen guiding them from mid-off or mid-on. “With the fast bowlers, he’s been absolutely brilliant. He’s always at hand to provide advice without overwhelming them. I wouldn’t be surprised if he takes over the captaincy very soon,” Gavaskar added.

India’s bowling attack, however, suffered in crucial moments during the series. In the Sydney Test, Bumrah’s absence in the fourth innings due to a back spasm proved costly. India was defending a modest target of 162 but lacked the firepower to challenge Australia’s batting lineup. Gavaskar lamented Bumrah’s unavailability, noting the impact he could have had. “What a difference it would have made if Bumrah was available to bowl in that final innings. Even an early spell of four or five overs could have turned the match in India’s favor,” he observed.

As India gears up for its next phase in Test cricket, the debate over captaincy intensifies. While some caution against burdening Bumrah with added responsibility, others see his leadership as a natural progression for the team’s future.

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