Annual global carbon dioxide emissions from
fossil fuels could drop slightly in 2015, according to a report from the
Global Carbon Project led by a Stanford University researcher. This
surprising result contrasts with the rapid growth in emissions before
2014, underlining the need for action to stabilize and permanently lower
global CO2 emissions, the researchers conclude.
"In 2014, global CO2 emissions from burning fossil fuels
grew by just 0.6 percent," said lead author Rob Jackson, a professor of
Earth system science at Stanford. "This year we expect total emissions
to flatten or drop slightly, despite strong growth in gross domestic
product worldwide."
While CO2 emissions have slowed during times of economic recession, this would be the first decline during a period of strong global economic growth, Jackson said.
The new report, titled "Reaching Peak Emissions," was published on Dec. 7 in the journal Nature Climate Change, with detailed data published simultaneously in Earth System Science Data.
"Decreased coal use in China was largely responsible for the decline in global CO2 emissions," said report co-author Corinne Le Quéré of the University of East Anglia in the United Kingdom. "After a decade of rapid growth, China's emissions rate slowed to 1.2 percent in 2014 and is expected to drop by 3.9 percent in 2015."
The researchers identified China as the world's top CO2 emitter in 2014, responsible for 27 percent of global emissions, followed by the United States (15.5 percent), the European Union (9.5 percent) and India (7.2 percent).
"Whether a slower growth in emissions will be sustained depends on the use of coal in China and elsewhere, and where new sources of energy will come from," said co-author Pep Canadell of Australia's Commonwealth Scientific and Industrial Research Organization (CSIRO). "In 2014, more than half of new energy needs in China were met from non-fossil fuel sources, such as hydro, nuclear, wind and solar power."
This trend was also accompanied by slower global growth in petroleum use and faster growth in renewables, with wind and solar capacities achieving record increases in 2014.
"The most promising finding in our report is the coupling of lower carbon emissions with a strong economic growth of more than 3 percent," said Jackson, a senior fellow at the Stanford Woods Institute for the Environment and at the Precourt Institute for Energy. "But even if we reach peak global emissions within a decade or two, we'll still be emitting massive amounts of CO2 from burning fossil fuels."
Achieving climate stabilization will require reducing emissions to near zero, he added.
"Reaching zero emissions will require long-term commitments from countries attending the climate meeting in Paris this week and beyond," Jackson said.
Other co-authors of the report are Robbie Andrew, Jan Ivar Korsbakken and Glen Peters, Center for International Climate and Environmental Research (Norway); and Nebojsa Nakicenovic, International Institute for Applied Systems Analysis (Austria).
The Global Carbon Project, part of the International Council for Science and Future Earth, addresses climate change by providing regular analyses of the global carbon cycle.
While CO2 emissions have slowed during times of economic recession, this would be the first decline during a period of strong global economic growth, Jackson said.
The new report, titled "Reaching Peak Emissions," was published on Dec. 7 in the journal Nature Climate Change, with detailed data published simultaneously in Earth System Science Data.
"Decreased coal use in China was largely responsible for the decline in global CO2 emissions," said report co-author Corinne Le Quéré of the University of East Anglia in the United Kingdom. "After a decade of rapid growth, China's emissions rate slowed to 1.2 percent in 2014 and is expected to drop by 3.9 percent in 2015."
The researchers identified China as the world's top CO2 emitter in 2014, responsible for 27 percent of global emissions, followed by the United States (15.5 percent), the European Union (9.5 percent) and India (7.2 percent).
"Whether a slower growth in emissions will be sustained depends on the use of coal in China and elsewhere, and where new sources of energy will come from," said co-author Pep Canadell of Australia's Commonwealth Scientific and Industrial Research Organization (CSIRO). "In 2014, more than half of new energy needs in China were met from non-fossil fuel sources, such as hydro, nuclear, wind and solar power."
This trend was also accompanied by slower global growth in petroleum use and faster growth in renewables, with wind and solar capacities achieving record increases in 2014.
"The most promising finding in our report is the coupling of lower carbon emissions with a strong economic growth of more than 3 percent," said Jackson, a senior fellow at the Stanford Woods Institute for the Environment and at the Precourt Institute for Energy. "But even if we reach peak global emissions within a decade or two, we'll still be emitting massive amounts of CO2 from burning fossil fuels."
Achieving climate stabilization will require reducing emissions to near zero, he added.
"Reaching zero emissions will require long-term commitments from countries attending the climate meeting in Paris this week and beyond," Jackson said.
Other co-authors of the report are Robbie Andrew, Jan Ivar Korsbakken and Glen Peters, Center for International Climate and Environmental Research (Norway); and Nebojsa Nakicenovic, International Institute for Applied Systems Analysis (Austria).
The Global Carbon Project, part of the International Council for Science and Future Earth, addresses climate change by providing regular analyses of the global carbon cycle.
He
has no qualms in admitting that football is nowhere near cricket on the
popularity chart in India but the iconic Sachin Tendulkar says the
country cannot wait to host the U-17 FIFA World Cup as the sport’s
following has increased post the Indian Super League.
Tendulkar, who co-owns the Kerala Blasters team in the ISL, asserted that football’s popularity is on the upswing in the cricket-obsessed country.
“Absolutely massive. Everyone is looking forward to it, everyone is
excited and the guys are waiting to welcome the World Cup to India. It’s
going to be massive, it’s good for India because people are
appreciating ISL and FIFA coming to India is a big, big thing,”
Tendulkar was quoted as saying by ‘fifa.com’.
Tendulkar said the ISL has helped in creating a new fan base for football.
“Football is getting popular – it’s nowhere near cricket, but I don’t like comparisons. It’s about appreciating each and every sport – the skills, the hard work and the sacrifices the players make. Each individual should be respected for that and Indian people are appreciating ISL in a big way,” he said.
“I’m thrilled that their response has been special and people are following not only the foreign players but the domestic players too…overall that is how football in India is going to grow. With India’s billion-plus population, if it grows it’s definitely going to have a positive impact on football all over the world,” he said.
Asked why he chose to involve himself in football, Tendulkar said, “I feel India is embracing other sports in a big away and this was a great opportunity to be involved with football and contribute in whatever possible manner in Kerala and then promote football there. The response has been phenomenal – we have had huge average crowds – so it’s been fabulous.”
Tendulkar said football has the potential to be a big sport in India.
“I think the infrastructure of how football is run in India is going to become critical. How the season is played also becomes very important — you want to try to make your domestic season as competitive as possible and then find the best talent who are part of the ISL.
“With the exposure of having rubbed shoulders with some of the top footballers from all parts of the world, the Indian team will eventually benefit as well. I have no doubts that the change is going to happen and happen for the better,” he said.
Tendulkar, who co-owns the Kerala Blasters team in the ISL, asserted that football’s popularity is on the upswing in the cricket-obsessed country.
Tendulkar said the ISL has helped in creating a new fan base for football.
“Football is getting popular – it’s nowhere near cricket, but I don’t like comparisons. It’s about appreciating each and every sport – the skills, the hard work and the sacrifices the players make. Each individual should be respected for that and Indian people are appreciating ISL in a big way,” he said.
“I’m thrilled that their response has been special and people are following not only the foreign players but the domestic players too…overall that is how football in India is going to grow. With India’s billion-plus population, if it grows it’s definitely going to have a positive impact on football all over the world,” he said.
Asked why he chose to involve himself in football, Tendulkar said, “I feel India is embracing other sports in a big away and this was a great opportunity to be involved with football and contribute in whatever possible manner in Kerala and then promote football there. The response has been phenomenal – we have had huge average crowds – so it’s been fabulous.”
Tendulkar said football has the potential to be a big sport in India.
“I think the infrastructure of how football is run in India is going to become critical. How the season is played also becomes very important — you want to try to make your domestic season as competitive as possible and then find the best talent who are part of the ISL.
“With the exposure of having rubbed shoulders with some of the top footballers from all parts of the world, the Indian team will eventually benefit as well. I have no doubts that the change is going to happen and happen for the better,” he said.
Do you like this story
- See more at:
http://indianexpress.com/article/sports/football/everyone-is-waiting-to-welcome-the-u-17-world-cup-to-india-sachin-tendulkar/#sthash.aprouRIa.dpuf
He
has no qualms in admitting that football is nowhere near cricket on the
popularity chart in India but the iconic Sachin Tendulkar says the
country cannot wait to host the U-17 FIFA World Cup as the sport’s
following has increased post the Indian Super League.
Tendulkar, who co-owns the Kerala Blasters team in the ISL, asserted that football’s popularity is on the upswing in the cricket-obsessed country.
“Absolutely massive. Everyone is looking forward to it, everyone is
excited and the guys are waiting to welcome the World Cup to India. It’s
going to be massive, it’s good for India because people are
appreciating ISL and FIFA coming to India is a big, big thing,”
Tendulkar was quoted as saying by ‘fifa.com’.
Tendulkar said the ISL has helped in creating a new fan base for football.
“Football is getting popular – it’s nowhere near cricket, but I don’t like comparisons. It’s about appreciating each and every sport – the skills, the hard work and the sacrifices the players make. Each individual should be respected for that and Indian people are appreciating ISL in a big way,” he said.
“I’m thrilled that their response has been special and people are following not only the foreign players but the domestic players too…overall that is how football in India is going to grow. With India’s billion-plus population, if it grows it’s definitely going to have a positive impact on football all over the world,” he said.
Asked why he chose to involve himself in football, Tendulkar said, “I feel India is embracing other sports in a big away and this was a great opportunity to be involved with football and contribute in whatever possible manner in Kerala and then promote football there. The response has been phenomenal – we have had huge average crowds – so it’s been fabulous.”
Tendulkar said football has the potential to be a big sport in India.
“I think the infrastructure of how football is run in India is going to become critical. How the season is played also becomes very important — you want to try to make your domestic season as competitive as possible and then find the best talent who are part of the ISL.
“With the exposure of having rubbed shoulders with some of the top footballers from all parts of the world, the Indian team will eventually benefit as well. I have no doubts that the change is going to happen and happen for the better,” he said.
Tendulkar, who co-owns the Kerala Blasters team in the ISL, asserted that football’s popularity is on the upswing in the cricket-obsessed country.
Tendulkar said the ISL has helped in creating a new fan base for football.
“Football is getting popular – it’s nowhere near cricket, but I don’t like comparisons. It’s about appreciating each and every sport – the skills, the hard work and the sacrifices the players make. Each individual should be respected for that and Indian people are appreciating ISL in a big way,” he said.
“I’m thrilled that their response has been special and people are following not only the foreign players but the domestic players too…overall that is how football in India is going to grow. With India’s billion-plus population, if it grows it’s definitely going to have a positive impact on football all over the world,” he said.
Asked why he chose to involve himself in football, Tendulkar said, “I feel India is embracing other sports in a big away and this was a great opportunity to be involved with football and contribute in whatever possible manner in Kerala and then promote football there. The response has been phenomenal – we have had huge average crowds – so it’s been fabulous.”
Tendulkar said football has the potential to be a big sport in India.
“I think the infrastructure of how football is run in India is going to become critical. How the season is played also becomes very important — you want to try to make your domestic season as competitive as possible and then find the best talent who are part of the ISL.
“With the exposure of having rubbed shoulders with some of the top footballers from all parts of the world, the Indian team will eventually benefit as well. I have no doubts that the change is going to happen and happen for the better,” he said.
Do you like this story
- See more at:
http://indianexpress.com/article/sports/football/everyone-is-waiting-to-welcome-the-u-17-world-cup-to-india-sachin-tendulkar/#sthash.aprouRIa.dpufv
He
has no qualms in admitting that football is nowhere near cricket on the
popularity chart in India but the iconic Sachin Tendulkar says the
country cannot wait to host the U-17 FIFA World Cup as the sport’s
following has increased post the Indian Super League.
Tendulkar, who co-owns the Kerala Blasters team in the ISL, asserted that football’s popularity is on the upswing in the cricket-obsessed country.
“Absolutely massive. Everyone is looking forward to it, everyone is
excited and the guys are waiting to welcome the World Cup to India. It’s
going to be massive, it’s good for India because people are
appreciating ISL and FIFA coming to India is a big, big thing,”
Tendulkar was quoted as saying by ‘fifa.com’.
Tendulkar said the ISL has helped in creating a new fan base for football.
“Football is getting popular – it’s nowhere near cricket, but I don’t like comparisons. It’s about appreciating each and every sport – the skills, the hard work and the sacrifices the players make. Each individual should be respected for that and Indian people are appreciating ISL in a big way,” he said.
“I’m thrilled that their response has been special and people are following not only the foreign players but the domestic players too…overall that is how football in India is going to grow. With India’s billion-plus population, if it grows it’s definitely going to have a positive impact on football all over the world,” he said.
Asked why he chose to involve himself in football, Tendulkar said, “I feel India is embracing other sports in a big away and this was a great opportunity to be involved with football and contribute in whatever possible manner in Kerala and then promote football there. The response has been phenomenal – we have had huge average crowds – so it’s been fabulous.”
Tendulkar said football has the potential to be a big sport in India.
“I think the infrastructure of how football is run in India is going to become critical. How the season is played also becomes very important — you want to try to make your domestic season as competitive as possible and then find the best talent who are part of the ISL.
“With the exposure of having rubbed shoulders with some of the top footballers from all parts of the world, the Indian team will eventually benefit as well. I have no doubts that the change is going to happen and happen for the better,” he said.
Tendulkar, who co-owns the Kerala Blasters team in the ISL, asserted that football’s popularity is on the upswing in the cricket-obsessed country.
Tendulkar said the ISL has helped in creating a new fan base for football.
“Football is getting popular – it’s nowhere near cricket, but I don’t like comparisons. It’s about appreciating each and every sport – the skills, the hard work and the sacrifices the players make. Each individual should be respected for that and Indian people are appreciating ISL in a big way,” he said.
“I’m thrilled that their response has been special and people are following not only the foreign players but the domestic players too…overall that is how football in India is going to grow. With India’s billion-plus population, if it grows it’s definitely going to have a positive impact on football all over the world,” he said.
Asked why he chose to involve himself in football, Tendulkar said, “I feel India is embracing other sports in a big away and this was a great opportunity to be involved with football and contribute in whatever possible manner in Kerala and then promote football there. The response has been phenomenal – we have had huge average crowds – so it’s been fabulous.”
Tendulkar said football has the potential to be a big sport in India.
“I think the infrastructure of how football is run in India is going to become critical. How the season is played also becomes very important — you want to try to make your domestic season as competitive as possible and then find the best talent who are part of the ISL.
“With the exposure of having rubbed shoulders with some of the top footballers from all parts of the world, the Indian team will eventually benefit as well. I have no doubts that the change is going to happen and happen for the better,” he said.
Do you like this story
- See more at:
http://indianexpress.com/article/sports/football/everyone-is-waiting-to-welcome-the-u-17-world-cup-to-india-sachin-tendulkar/#sthash.aprouRIa.dpuf
The
owner of new Pune franchise Sanjiv Goenka’s business links with former
India captain Sourav Ganguly has inadvertently raised the issue of
conflict of interest, which has been high on BCCI’s agenda since the IPL
spot-fixing case. Ganguly, a member of the IPL governing council, is
the co-owner of Indian Super League side Atletico Kolkata along with
Goenka. The other members of the consortium that owns the team are Utsav
Parekh, Harsh Neotia and Spanish club Atletico Madrid. The association
of Ganguly and Goenka, however, is seen as a potential conflict.
BCCI president Shashank Manohar, however, disagreed at the post-auction press conference, insisting people ‘have not understood the meaning of the word conflict.’ At the same time, he said the BCCI-appointed independent ombudsman Retd Justice AP Shah will have the last word on this. It does not (result in conflict). These two teams are different. Everyday I get questions from various partners over the issue. People have not understood the meaning of the word conflict. It means where there could be a obvious bias regard to the decision making process. When a person can influence the decision making,” Manohar said. “You can’t stretch conflict to absurdity levels. Unless and until there is something to show that I have influenced the decision making process. These were close bids submitted and Sourav Ganguly had nothing to do. We have appointed an ombudsman to check if there is a conflict or there is no conflict.”
Former BCCI secretary Niranjan Shah concurred. “Yes, Ganguly is a
member of the IPL governing council. But the bidding took place before
everyone, so how could he influence it? In fact, he arrived late,
returning from London. Also, there’s no money or commercial interests
involved as Ganguly is not on the pay roll of any IPL franchise. So I
can’t see any potential conflict of interest as far as his case is
concerned,” he told The Indian Express.
Ganguly’s colleague in the governing council Ajay Shirke was more forthright. “There has to be some understanding of the conflict of interest issue. Conflict arises when somebody is in a position to grant someone an undue favour. In what capacity Ganguly can do that? I don’t see any merit in this argument but if someone still feels he is conflicted, we now have a forum (ombudsman) for redressal,” he said.
Apart from being a governing council member, Ganguly also heads the BCCI technical committee and is the president of the Cricket Association of Bengal (CAB). The cricket board’s rules on conflict of interest says: “A. An Administrator or his near relative, shall not have any commercial interest in any activities/tournaments of the BCCI including Indian Premier League. B. An Administrator or his near relative shall not be on the pay roll of an IPL Franchise.”
The guidelines, however, don’t offer much clarity on what will happen if a business partner of a BCCI official or functionary enters into a commercial agreement with the cricket board. Goenka believes there cannot be any conflict of interest for Ganguly. “He’s not involved in our cricket franchise. As for his association with Atletico de Kolkata, football is a different sport and doesn’t have any connection with the IPL. Also, two separate companies are involved here. The company that owns the ISL franchise and the one that owns the Pune team in the IPL are two completely separate entities. So how can there be a conflict of interest for Sourav Ganguly?,” Goenka said.
- See more at: http://indianexpress.com/article/sports/cricket/sourav-gangulys-isl-role-raises-conflict/#sthash.S5UyIJjW.dpuf
BCCI president Shashank Manohar, however, disagreed at the post-auction press conference, insisting people ‘have not understood the meaning of the word conflict.’ At the same time, he said the BCCI-appointed independent ombudsman Retd Justice AP Shah will have the last word on this. It does not (result in conflict). These two teams are different. Everyday I get questions from various partners over the issue. People have not understood the meaning of the word conflict. It means where there could be a obvious bias regard to the decision making process. When a person can influence the decision making,” Manohar said. “You can’t stretch conflict to absurdity levels. Unless and until there is something to show that I have influenced the decision making process. These were close bids submitted and Sourav Ganguly had nothing to do. We have appointed an ombudsman to check if there is a conflict or there is no conflict.”
Ganguly’s colleague in the governing council Ajay Shirke was more forthright. “There has to be some understanding of the conflict of interest issue. Conflict arises when somebody is in a position to grant someone an undue favour. In what capacity Ganguly can do that? I don’t see any merit in this argument but if someone still feels he is conflicted, we now have a forum (ombudsman) for redressal,” he said.
Apart from being a governing council member, Ganguly also heads the BCCI technical committee and is the president of the Cricket Association of Bengal (CAB). The cricket board’s rules on conflict of interest says: “A. An Administrator or his near relative, shall not have any commercial interest in any activities/tournaments of the BCCI including Indian Premier League. B. An Administrator or his near relative shall not be on the pay roll of an IPL Franchise.”
The guidelines, however, don’t offer much clarity on what will happen if a business partner of a BCCI official or functionary enters into a commercial agreement with the cricket board. Goenka believes there cannot be any conflict of interest for Ganguly. “He’s not involved in our cricket franchise. As for his association with Atletico de Kolkata, football is a different sport and doesn’t have any connection with the IPL. Also, two separate companies are involved here. The company that owns the ISL franchise and the one that owns the Pune team in the IPL are two completely separate entities. So how can there be a conflict of interest for Sourav Ganguly?,” Goenka said.
- See more at: http://indianexpress.com/article/sports/cricket/sourav-gangulys-isl-role-raises-conflict/#sthash.S5UyIJjW.dpuf
The
owner of new Pune franchise Sanjiv Goenka’s business links with former
India captain Sourav Ganguly has inadvertently raised the issue of
conflict of interest, which has been high on BCCI’s agenda since the IPL
spot-fixing case. Ganguly, a member of the IPL governing council, is
the co-owner of Indian Super League side Atletico Kolkata along with
Goenka. The other members of the consortium that owns the team are Utsav
Parekh, Harsh Neotia and Spanish club Atletico Madrid. The association
of Ganguly and Goenka, however, is seen as a potential conflict.
BCCI president Shashank Manohar, however, disagreed at the post-auction press conference, insisting people ‘have not understood the meaning of the word conflict.’ At the same time, he said the BCCI-appointed independent ombudsman Retd Justice AP Shah will have the last word on this. It does not (result in conflict). These two teams are different. Everyday I get questions from various partners over the issue. People have not understood the meaning of the word conflict. It means where there could be a obvious bias regard to the decision making process. When a person can influence the decision making,” Manohar said. “You can’t stretch conflict to absurdity levels. Unless and until there is something to show that I have influenced the decision making process. These were close bids submitted and Sourav Ganguly had nothing to do. We have appointed an ombudsman to check if there is a conflict or there is no conflict.”
Former BCCI secretary Niranjan Shah concurred. “Yes, Ganguly is a
member of the IPL governing council. But the bidding took place before
everyone, so how could he influence it? In fact, he arrived late,
returning from London. Also, there’s no money or commercial interests
involved as Ganguly is not on the pay roll of any IPL franchise. So I
can’t see any potential conflict of interest as far as his case is
concerned,” he told The Indian Express.
Ganguly’s colleague in the governing council Ajay Shirke was more forthright. “There has to be some understanding of the conflict of interest issue. Conflict arises when somebody is in a position to grant someone an undue favour. In what capacity Ganguly can do that? I don’t see any merit in this argument but if someone still feels he is conflicted, we now have a forum (ombudsman) for redressal,” he said.
Apart from being a governing council member, Ganguly also heads the BCCI technical committee and is the president of the Cricket Association of Bengal (CAB). The cricket board’s rules on conflict of interest says: “A. An Administrator or his near relative, shall not have any commercial interest in any activities/tournaments of the BCCI including Indian Premier League. B. An Administrator or his near relative shall not be on the pay roll of an IPL Franchise.”
The guidelines, however, don’t offer much clarity on what will happen if a business partner of a BCCI official or functionary enters into a commercial agreement with the cricket board. Goenka believes there cannot be any conflict of interest for Ganguly. “He’s not involved in our cricket franchise. As for his association with Atletico de Kolkata, football is a different sport and doesn’t have any connection with the IPL. Also, two separate companies are involved here. The company that owns the ISL franchise and the one that owns the Pune team in the IPL are two completely separate entities. So how can there be a conflict of interest for Sourav Ganguly?,” Goenka said.
- See more at: http://indianexpress.com/article/sports/cricket/sourav-gangulys-isl-role-raises-conflict/#sthash.S5UyIJjW.dpuf
BCCI president Shashank Manohar, however, disagreed at the post-auction press conference, insisting people ‘have not understood the meaning of the word conflict.’ At the same time, he said the BCCI-appointed independent ombudsman Retd Justice AP Shah will have the last word on this. It does not (result in conflict). These two teams are different. Everyday I get questions from various partners over the issue. People have not understood the meaning of the word conflict. It means where there could be a obvious bias regard to the decision making process. When a person can influence the decision making,” Manohar said. “You can’t stretch conflict to absurdity levels. Unless and until there is something to show that I have influenced the decision making process. These were close bids submitted and Sourav Ganguly had nothing to do. We have appointed an ombudsman to check if there is a conflict or there is no conflict.”
Ganguly’s colleague in the governing council Ajay Shirke was more forthright. “There has to be some understanding of the conflict of interest issue. Conflict arises when somebody is in a position to grant someone an undue favour. In what capacity Ganguly can do that? I don’t see any merit in this argument but if someone still feels he is conflicted, we now have a forum (ombudsman) for redressal,” he said.
Apart from being a governing council member, Ganguly also heads the BCCI technical committee and is the president of the Cricket Association of Bengal (CAB). The cricket board’s rules on conflict of interest says: “A. An Administrator or his near relative, shall not have any commercial interest in any activities/tournaments of the BCCI including Indian Premier League. B. An Administrator or his near relative shall not be on the pay roll of an IPL Franchise.”
The guidelines, however, don’t offer much clarity on what will happen if a business partner of a BCCI official or functionary enters into a commercial agreement with the cricket board. Goenka believes there cannot be any conflict of interest for Ganguly. “He’s not involved in our cricket franchise. As for his association with Atletico de Kolkata, football is a different sport and doesn’t have any connection with the IPL. Also, two separate companies are involved here. The company that owns the ISL franchise and the one that owns the Pune team in the IPL are two completely separate entities. So how can there be a conflict of interest for Sourav Ganguly?,” Goenka said.
- See more at: http://indianexpress.com/article/sports/cricket/sourav-gangulys-isl-role-raises-conflict/#sthash.S5UyIJjW.dpuf
Pune
and Rajkot have emerged as the new franchises in the Indian Premier
League for the next two years, the BCCI announced Tuesday. They will
replace Chennai Super Kings and Rajasthan Royals, who are currently
facing two-year suspensions imposed by the Supreme Court-mandated R M
Lodha panel following the 2013 IPL corruption scandal.
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
The teams were sold through the reverse bidding process for which the
base price was set at Rs 40 crore, and bidders had to quote an amount
less than the base price. According to the BCCI, New Rising and Intex
were picked as they submitted the only “negative bids” — they won’t
avail of BCCI funding. Goenka will pay Rs 16 crore for the franchise,
while Intex will pay Rs 10 crore per year.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpuf
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpuf
Pune
and Rajkot have emerged as the new franchises in the Indian Premier
League for the next two years, the BCCI announced Tuesday. They will
replace Chennai Super Kings and Rajasthan Royals, who are currently
facing two-year suspensions imposed by the Supreme Court-mandated R M
Lodha panel following the 2013 IPL corruption scandal.
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
The teams were sold through the reverse bidding process for which the
base price was set at Rs 40 crore, and bidders had to quote an amount
less than the base price. According to the BCCI, New Rising and Intex
were picked as they submitted the only “negative bids” — they won’t
avail of BCCI funding. Goenka will pay Rs 16 crore for the franchise,
while Intex will pay Rs 10 crore per year.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpuf
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpuf
Pune
and Rajkot have emerged as the new franchises in the Indian Premier
League for the next two years, the BCCI announced Tuesday. They will
replace Chennai Super Kings and Rajasthan Royals, who are currently
facing two-year suspensions imposed by the Supreme Court-mandated R M
Lodha panel following the 2013 IPL corruption scandal.
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
The teams were sold through the reverse bidding process for which the
base price was set at Rs 40 crore, and bidders had to quote an amount
less than the base price. According to the BCCI, New Rising and Intex
were picked as they submitted the only “negative bids” — they won’t
avail of BCCI funding. Goenka will pay Rs 16 crore for the franchise,
while Intex will pay Rs 10 crore per year.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpuf
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpuf
Pune
and Rajkot have emerged as the new franchises in the Indian Premier
League for the next two years, the BCCI announced Tuesday. They will
replace Chennai Super Kings and Rajasthan Royals, who are currently
facing two-year suspensions imposed by the Supreme Court-mandated R M
Lodha panel following the 2013 IPL corruption scandal.
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
The teams were sold through the reverse bidding process for which the
base price was set at Rs 40 crore, and bidders had to quote an amount
less than the base price. According to the BCCI, New Rising and Intex
were picked as they submitted the only “negative bids” — they won’t
avail of BCCI funding. Goenka will pay Rs 16 crore for the franchise,
while Intex will pay Rs 10 crore per year.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpuf
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpuf
Pune
and Rajkot have emerged as the new franchises in the Indian Premier
League for the next two years, the BCCI announced Tuesday. They will
replace Chennai Super Kings and Rajasthan Royals, who are currently
facing two-year suspensions imposed by the Supreme Court-mandated R M
Lodha panel following the 2013 IPL corruption scandal.
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
The teams were sold through the reverse bidding process for which the
base price was set at Rs 40 crore, and bidders had to quote an amount
less than the base price. According to the BCCI, New Rising and Intex
were picked as they submitted the only “negative bids” — they won’t
avail of BCCI funding. Goenka will pay Rs 16 crore for the franchise,
while Intex will pay Rs 10 crore per year.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpuf
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpuf
Pune
and Rajkot have emerged as the new franchises in the Indian Premier
League for the next two years, the BCCI announced Tuesday. They will
replace Chennai Super Kings and Rajasthan Royals, who are currently
facing two-year suspensions imposed by the Supreme Court-mandated R M
Lodha panel following the 2013 IPL corruption scandal.
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
The teams were sold through the reverse bidding process for which the
base price was set at Rs 40 crore, and bidders had to quote an amount
less than the base price. According to the BCCI, New Rising and Intex
were picked as they submitted the only “negative bids” — they won’t
avail of BCCI funding. Goenka will pay Rs 16 crore for the franchise,
while Intex will pay Rs 10 crore per year.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpuf
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpuf
Pune
and Rajkot have emerged as the new franchises in the Indian Premier
League for the next two years, the BCCI announced Tuesday. They will
replace Chennai Super Kings and Rajasthan Royals, who are currently
facing two-year suspensions imposed by the Supreme Court-mandated R M
Lodha panel following the 2013 IPL corruption scandal.
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
The teams were sold through the reverse bidding process for which the
base price was set at Rs 40 crore, and bidders had to quote an amount
less than the base price. According to the BCCI, New Rising and Intex
were picked as they submitted the only “negative bids” — they won’t
avail of BCCI funding. Goenka will pay Rs 16 crore for the franchise,
while Intex will pay Rs 10 crore per year.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpufv
Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15.
- See more at: http://indianexpress.com/article/sports/cricket/pune-rajkot-set-to-replace-csk-rr-in-ipl-9/#sthash.aHvTdgg8.dpufv
By: Express News Service | New Delhi |
Updated: December 9, 2015 5:02 am
BCCI’s Shashank Manohar and Anurag Thakur.
Pune and Rajkot have emerged as the new franchises in the Indian
Premier League for the next two years, the BCCI announced Tuesday. They
will replace Chennai Super Kings and Rajasthan Royals, who are currently
facing two-year suspensions imposed by the Supreme Court-mandated R M
Lodha panel following the 2013 IPL corruption scandal.Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15
By: Express News Service | New Delhi |
Updated: December 9, 2015 5:02 am
BCCI’s Shashank Manohar and Anurag Thakur.
Pune and Rajkot have emerged as the new franchises in the Indian
Premier League for the next two years, the BCCI announced Tuesday. They
will replace Chennai Super Kings and Rajasthan Royals, who are currently
facing two-year suspensions imposed by the Supreme Court-mandated R M
Lodha panel following the 2013 IPL corruption scandal.Sanjeev Goenka’s New Rising won the bid for Pune, while Intex will represent Rajkot. Goenka owns the power and retail giant CESC Ltd while Intex makes mobile handsets and IT accessories.
“They won’t take a single penny from the BCCI. In fact, they will pay the BCCI,” said BCCI secretary Anurag Thakur.
BCCI president Shashank Manohar said since the two new franchises declined to accept money from the central revenue pool, it will help the board earn profits in excess of Rs 300 crore.
“What we had calculated was that BCCI pays franchises around Rs 70 crore in the first year out of the central revenue and Rs 75 crore in the next year. So that makes it Rs 145 crore for one team. Now that Rs 145 crore is going to be safe because they are not accepting that central revenue. In addition, they are paying us Rs 26 crore for two years,” Manohar told reporters in Delhi.
Sources told The Indian Express that these two franchises have “in a way, bailed out the BCCI at a crucial time”. According to conservative estimates, the two franchises will spend close to Rs 100 crore on the IPL every year for the next two years.
The owners of both these teams said that they hope to be associated with the IPL post-2017, too, once their two-year terms expire. This is, perhaps, the biggest motivation for these two interim franchisees, sources said.
Asked whether New Rising was willing to suffer losses and look at the IPL as an investment, Subhashish Mitra, the executive director, said “We have done our arithmetic.”
Intex owner Keshav Bansal, on the other hand, reckons that the basic idea is to be associated with IPL and see the whole venture as a brand-building exercise.
“Look, getting associated with the IPL is really great for us in terms of the brand-building exercise. But to be fair, it will be tough for us to break even in two years,” Bansal said.
The interim franchisees will select the players of CSK and RR through a draft system. The players will be divided into two groups —capped and uncapped — the top names will be sold through the draft system. The draft pick will be held on December 15