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I-T conducts enquiry at Pune Warriors office

News4u-News Desk- Pune,  The Income-Tax Department on Wednesday conducted an enquiry at the Pune Warriors office and Subrata Roy Sahara Stadium in Pune.

The enquiry followed a sting operation where franchise players allegedly took a bribe for spot-fixing.

Players could be individually quizzed by the I-T team in the enquiry.

Pune Warriors could not do much in the league but remain in controversy , at times by Sourav Ganguly’s exclusion from the team and later on its two players attended the infamous rave party in Mumbai .

Sahara Pune Warriors - Subrata Roy

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Sahara bags Team India sponsorship rights

News4u - Sports Desk : The Sahara Group outbid telecom giants Bharti Airtel to retain the sponsorship rights of the Indian men’s cricket team till the end of 2013.

The Subrato Roy-headed industrial conglomerate will pay Rs 3.34 crore per international match to have their logo displayed on the Team India jersey.

“Sahara India Financial Corporation has been awarded the Indian team (Seniors) Title Sponsorship Rights, for the period1 July 2010 to 31 December 2013,” BCCI Secretary N Srinivasan said in a statement in Mumbai on Monday.

“The BCCI will be paid Rs. 3.34 crore per Test/ODI/T20 International during this period,” the statement added.

Sahara Group’s original contract with the BCCI expired last year. The company spent Rs 400 crore over a four-year period for team sponsorship.

They came to the BCCI’s rescue when no bids were received for the team sponsorship six months ago and continued their support for the period. Their renewed contract was to expire next month.

Under the existing contract, Sahara was paying Rs 1.9 crore per Test, Rs 2.08 crore per ODI and Rs 1.56 crore per Twenty20 International, the BCCI said.

The group was locked in a two-way race for the renewed rights with Bharti Airtel.
The two were the only firms left in the fray, although four others including electronic giants Videocon, had also purchased the bid form.

Sahara and Airtel submitted the requisite security deposit of Rs 50 crore along with the form at the end of deadline while the other firms excused themselves from the race due to the steep base price of Rs 2.5 crore per match.

The Cricket Board had published a tender notice calling for bids for the Indian men’s team, women’s team, India A squad and the under 19 squad and the deadline to submit security deposit ended on Sunday.

TEAM INDIA

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BCCI to choose from Airtel andSahara for team sponsorship

News4u-News Desk-Industrial conglomerateSahara India and telecom giants Bharti Airtel are locked in a two-way race to bag the sponsorship rights for the Indian cricket team, which would be announced by the BCCI in Mumbai on Monday.

Only these two firms are left in the fray, although four others including electronic giants Videocon had also purchased the form.
Sahara India and Airtel submitted the security deposit of Rs 50 crore along with the form at the end of deadline while the other firms excused themselves from the race due to steep base price of Rs 2.5 crore per match.
“Six took the forms but only Bharti Airtel and Sahara have sent the security deposit (Rs 50 crore). They will submit the financial bids tomorrow to the BCCI marketing committee that is meeting tomorrow,” the sources said on Sunday.
The Cricket Board had published a tender notice calling for bids for the Indian men’s team, women’s team, India A squad and the under 19 squad and the deadline to submit security deposit ended on Saturday.
BCCI President Shashank Manohar is to chair the marketing committee meeting that is to be convened at the Board’s headquarters in Mumbai at 11 am.
The base price was kept at Rs 2.5 crore by the BCCI for each Test, ODI and T20 International, the sources added.

Sahara, are, incidentally the existing sponsors who spent Rs 400 crore over a four-year period for team sponsorship.
They came to the BCCI’s rescue when no bids were received for the team sponsorship six months ago and continued the sponsorship for six months which is coming to an end at the end of June.

sahara & Airtel

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Sahara to review sponsorship to Team India; IPO for IPL likely

News4u-Sports Desk-Having bid a staggering over Rs 1,700 crore for buying an IPL team, Sahara will review its sponsorship to the Indian cricket team, Group chief Subroto Roy has said.

Sahara had bagged the sponsorship for the Indian cricket team for Rs 400 crore for a four-year period ending December 2009, and had agreed to continue for six more months as Board for Cricket Control in India could not find any sponsors.

In the eventuality of Sahara discontinuing the sponsorship, BCCI may find it difficult to rope in a new patron given the mad rush for the Indian Premier League.

“No, it will not. Only thing we will see is our continuation of sponsorship to the Indian cricket team. We will sit on that and we will discuss on that. But on all other sports nothing will be affected,” Roy said.

Asserting that the Group, which is also sponsoring the Hockey team, would seriously consider (limiting) exposure to the BCCI and the women’s cricket, he said, “We will take a conscious decision about it.”

On financing the 10-year bid, he said there were variousoptions and many Indian companies as also British Clubs haveevinced interest in becoming our partners, adding that goingpublic through an initial public offer in a year or two was also a possibility.

“We are paying every year advance to acquire a property. So if you are paying advance, it is not a profit or loss account factor. So we can go even for an IPO  in a year or two years.

“There are approaches from not only Indian companies, butwithin 24 hours we got proposals from some very big club ofthe UK. They want to join hands with us. There are many kindof opportunities,” he said.

Roy, however, made it clear that Sahara group would keepthe majority stake.

He said the Pune team would not be a loss making proposition and it would generate operating profits from year one.

Sahara Group chief Subroto Roy

Sahara Group chief Subroto Roy

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Sahara to review sponsorship to Team India; IPO for IPL likely

News4u-News Desk- Having bid a staggering over Rs 1,700 crore for buying an IPL team, Sahara will review its sponsorship to the Indian cricket team, Group chief Subroto Roy has said.

Sahara had bagged the sponsorship for the Indian cricket team for Rs 400 crore for a four-year period ending December 2009, and had agreed to continue for six more months as Board for Cricket Control in India could not find any sponsors.

In the eventuality of Sahara discontinuing the sponsorship, BCCI may find it difficult to rope in a new patron given the mad rush for the Indian Premier League.

“No, it will not. Only thing we will see is our continuation of sponsorship to the Indian cricket team. We will sit on that and we will discuss on that. But on all other sports nothing will be affected,” Roy said.

Asserting that the Group, which is also sponsoring the Hockey team, would seriously consider (limiting) exposure to the BCCI and the women’s cricket, he said, “We will take a conscious decision about it.”

On financing the 10-year bid, he said there were variousoptions and many Indian companies as also British Clubs haveevinced interest in becoming our partners, adding that goingpublic through an initial public offer in a year or two was also a possibility.

“We are paying every year advance to acquire a property. So if you are paying advance, it is not a profit or loss account factor. So we can go even for an IPO  in a year or two years.

“There are approaches from not only Indian companies, butwithin 24 hours we got proposals from some very big club ofthe UK. They want to join hands with us. There are many kindof opportunities,” he said.

Roy, however, made it clear that Sahara group would keepthe majority stake.

He said the Pune team would not be a loss making proposition and it would generate operating profits from year one.

Subroto Roy

Subroto Roy

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