Latest news with #LalitModi
India.com
3 days ago
- Business
- India.com
Bad news for BCCI, set to pay Rs 5380000000 to this IPL team due to...
In these collection of pictures, we find out the reason why the BCCI has suffered a massive financial loss after the decision by Bombay High Court. Image credit: X (Formerly Twitter) Kochi Tuskers Kerala participated in IPL 2011 season. Kochi Cricket Pvt. Ltd. was a consortium of multiple owners. Image credit: X (Formerly Twitter) Former IPL chairman Lalit Modi and BCCI terminated Kochi Tuskers Kerala contract in 2012 due to alleged breach in contract. Image credit: X (Formerly Twitter) Arbital Tribunal had ordered BCCI to pay Rs 538 crore to Kochi Tusker Kerala owners KCPL. It awarded over Rs 384 crore to KCPL and ordering the return of over Rs 153 crore to RSW along with interest and costs. Rendezvous Sports World (RSW) was consortium who had bought the IPL team. Image credit: X (Formerly Twitter) BCCI had challenged the order of Artbital Tribunal. arguing that the tribunal had acted beyond its powers and misapplied the law. It maintained that KCPL's failure to submit the bank guarantee was a fundamental breach of the agreement, justifying termination. Image credit: X (Formerly Twitter) Bombay High Court held that the arbitrator's findings were well-reasoned and supported by records. It ruled that BCCI had, by its conduct, waived the strict requirement for furnishing the guarantee by March 2011. Image credit: X (Formerly Twitter) Single-judge Justice RI Chagla rejected BCCI's challenge on Wednesday to the Rs 538 crore award and said that the Bombay High Court cannot sit in appeal over the arbitrator's findings.
Hindustan Times
5 days ago
- Sport
- Hindustan Times
Rugby's IPL moment? Derek Jones happy to be at forefront as Rugby Premier League touted as launchpad to Olympic dream
India has increasingly grown into a market for diverse sports leagues. What Lalit Modi conceptualized 17 years ago with the razzmatazz of the Indian Premier League not only changed the landscape of cricket globally, but also paved the way for other sports to follow suit. After the success of tournaments like the Pro Kabaddi League, India, on Sunday, uncorked another fresh bottle of wine — the Rugby Premier League (RPL). Like cricket, rugby too was introduced to India by the British in the 1870s, although it initially involved only a few scratch matches played in Calcutta and Madras. It wasn't until 1998 that the sport got its own governing body in the country, which later became a full member of World Rugby. The national team made their first attempt to qualify for the Rugby World Cup in 2005. While that dream still stands, this could well be the breakout moment that gives the sport the momentum it needs. Bollywood actor Rahul Bose, president of Rugby India, believes: why not now? After years of fine-tuning the idea, Bose eventually launched the RPL, which was granted a 15-day window by the world body. Legendary player Derek Jones feels this could be the first step toward India establishing themselves on the global rugby map. Speaking to Hindustan Times, the former New Zealand captain and Hall of Famer—now head coach of the Hyderabad Heroes—opened up about the brand-new concept and how it could potentially pave the way for India's first Olympic medal in the sport. Jones also touched on his own playing career and transition into coaching after retiring in 2017. Here are the excerpts… It's been good. The last time I was here was as a player, and under different circumstances, we didn't really get to see much of India. We only had a few days where we managed to get out and do a little bit of sightseeing, but I think the experience was good. I'm still pretty close to the ground when it comes to rugby because I'm sort of recently retired. Good to see some familiar faces and some of the international players that are here—some of them I've actually played against. It's also awesome to see the bridge players and the local Indians really mixing it up. It's been a fun two weeks of mixing cultures and personalities, and hopefully we get to showcase a little bit of that over the next couple of weeks when the competition starts. I think rugby culture in India is definitely heading in the right direction. Organisations and franchise owners have put their hands up to support the competition. Moreover, the quality of players I've seen and the experience across different teams is really exciting for the future of rugby in India. Hopefully, over the next couple of weeks, with the addition of international and bridge players, and with some good support, the product will inspire a lot of youngsters in India to pick up a rugby ball. It's exciting. Sevens has kind of been waiting for something like this. There have always been talks about other countries wanting to do something similar or run massive tournaments, but India has taken it to another level. Franchises have stepped up, creating its own league and bringing in international players and coaches from around the world to really showcase it. Hopefully, this is just the start of many years to come. I think this is key to where Sevens is potentially heading. It's part and parcel of what Sevens wants to do—growing the sport globally. It fits nicely in terms of expanding to different regions. There's a massive population here, and within that, there are some rugby followers. I think India is looking for more sports and an opportunity to aim for an Olympic medal. That's something countries like India definitely aspire to. So this is a great start, and hopefully we can be a part of that first piece of history to help them get there. I think it's a great mix. The opportunity to go through the draft process, the picks, and the auctions was a really cool concept. I was obviously on the other side of the world and didn't really have a chance to look deeper into the local Indian players, but we've got an assistant coach, Te-Luke, who provided advice from the ground here. They gave us as much information as they could. The picks came down to making sure we had forwards, backs, and specialists in different positions. At the end of the day, the proof will be in the pudding tomorrow as we start the competition and see how it all comes together. There's still a lot of learning to be done, and I think a lot of learning on the fly—game by game. Coaches and players will look to tweak things and change things as needed. I'd love to say all our players! We've got some local Indian boys who were part of the Nationals final—some from the winning team—and obviously Prince Khatri is well known in Indian rugby. Then we've got Moreno and Nasova from the Dream Team in the World Series. So, there's excitement across the board. But again, it's a team sport—it's not about individuals. The team that connects the best and the fastest, given the short turnaround, will be the real test. Oh, I mean, yeah—you've got to look at it differently. There's a lot more work going on behind the scenes. I'm still a young, new coach, so I'm looking to do a lot of learning here. It's been one of those environments where I've had to learn the hard way. The organisation is new to rugby—there's a massive pickleball following, cricket obviously, and other sports—but hopefully I can share as much knowledge as I can so rugby can grow as one of their other sports. I'm really grateful for the opportunity to be cutting my teeth here. India is one of the first stops for me in terms of my international coaching career. Coaching can be done in many ways, and at the end of the day, it's about coaching or managing people. So I dove a bit deeper into that side. My studies were to give me the best opportunity—when I had the chance to coach a team or the next generation—that I'd have a few more tricks up my sleeve for getting the best out of individuals. This is now a great opportunity for me to put my Master's to work and use the research I've done, along with my coaching philosophies and methods. Hopefully, if all goes well, we'll get some good results from it. I don't think it's tougher, but the game's definitely changing, and there's a big demand on players. On the other hand, there were a lot more tournaments when I was playing, and games were longer. So, there are different dynamics now. Players today are absolute specimens—fast runners, big boys who can tackle hard. It's not just what they do on the field, but also mentally—how they manage themselves off it. If we're talking about the World Series now, the format has changed. It's really hard to win, whether in the World Series, Challenger Series, or other tiers. So in terms of Sevens as a sport, it's definitely one of the most competitive out there. That was more when I was doing my current job, focusing on athlete advocacy and ambassadorial work. Going to different tournaments was my way of staying connected to the sport. Hong Kong Rugby Union, in particular, was always great in inviting me back to be part of their events. That was my way of staying in touch—being on the ground and seeing where the game was. I'm grateful for those opportunities, but now, I think I've been out of the game long enough, and it feels like the right window to start building my coaching CV. Hopefully, this is a good start and leads to many more years to come. Well, I think the country is getting excited about other sports and newer generational sports. I'm pretty sure there'll be a lot of interest around this new game in town being played in Mumbai. Since rugby is an Olympic sport, there's genuine global interest. Hopefully, if we showcase a good product, we'll see excited boys and girls in India wanting to play rugby sevens very soon. I think part and parcel of professional sport is professional resources—getting the right people in. That means coaches, strength and conditioning trainers, medical staff, managers, and more. All of these bring valuable insights into how the rugby community functions. A lot of these professionals would have experience with different organisations and sports and know how to manage things at that level. Rugby has its own intricacies, and the more we share that knowledge and get these people involved, the better it will be for everyone.
India.com
11-06-2025
- Business
- India.com
Plan to sell IPL 2025 champions RCB only..., Kohli's team reveal truth to BSE, they said...
RCB won the IPL 2025 title after wait of 18 years. They beat PBKS by six runs in IPL 2025 final last week. Media reports stated that RCB owners Diageo India are planning to sell a stake in the team after their IPL 2025 win. RCB could become 2nd IPL team after Gujarat Titans to sell a stake, according to a report in Bloomberg. RCB owners Diageo India are looking at valuation of $2 billion, according to the report in Bloomberg. RCB owners Diageo have confirmed their stand in statement to the Bombay Stock Exchange. "The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion," Mital Sanghvi, the company secretary, informed the regulating body of the Indian Stock Market. "This is for your information and records." Diageo-owned United Spirits stock prices increased after new of RCB stake sale. Diageo India had to respond to a mail from BSE. Former IPL chairman Lalit Modi is not surprised at RCB valuation of $2 billion, according to report in Cricbuzz website. "I will not be surprised if it is sold for a higher price," Lalit Modi said. RCB official have no been available since deadly Bengaluru stampede last week which led to death of 11 people amid Virat Kohli's team felicitation.
India.com
11-06-2025
- Business
- India.com
Royal Challengers Bengaluru owners respond to buzz around potential team sale, 'like to clarify...'
RCB cricketers after winning the IPL 2025 title New Delhi: Following reports that Diageo, its parent company, might sell its stake in the Royal Challengers Bangalore IPL team, United Spirits' stock rose over 3% on Tuesday. While social media speculated this was a response to RCB's 2025 IPL victory, United Spirits subsequently denied these reports. 'This has reference to your email communication dated 10 June 2025 seeking clarification from the Company on media reports in relation to potential stake sale of RCB. The Company would like to clarify that aforesaid media reports are speculative in nature and it is not pursuing any such discussions,' United Spirits told the Bombay Stock Exchange and BSE Surveillance Department. Lalit Modi, the former IPL chairman, has sharply criticized the Royal Challengers Bangalore and the Karnataka government following a deadly stampede at the team's victory parade in Bengaluru. The incident resulted in eleven fatalities and numerous injuries. Following Royal Challengers Bangalore's first IPL victory, a large celebratory crowd outside the M. Chinnaswamy Stadium on June 4th resulted in a tragic stampede. Overcrowding caused a surge of people attempting to enter the stadium, leading to fatalities. Lalit Modi offered his condolences to the victims' families and criticized the incident as severely mismanaged, according to an interview with IANS. 'First and foremost, my condolences to the families of those who lost their lives in the stampede. This should never have happened. The entire event was poorly planned and executed,' Modi said. 'There is so much mudslinging and finger-pointing going on, but the issue is simple — the event should never have been allowed without proper arrangements in place. The authorities failed, and the team management should also have ensured fan safety before participating in the so-called celebrations.'
NDTV
10-06-2025
- Business
- NDTV
RCB Owners Break Silence On Reports Of Potential Sale: "Like To Clarify..."
The share prices of United Sprits went up by over 3 per cent on Tuesday after reports surfaced that its parent company - Diageo - was looking to sell stakes in IPL franchise Royal Challengers Bengaluru. Social media was abuzz with rumours with many suggesting that company was looking to capitalise on RCB's victory in IPL 2025. However, United Spirits issued a clarification denying any such reports. 'This has reference to your email communication dated 10th June 2025 seeking clarification from the Company on media reports in relation to potential stake sale of RCB. The Company would like to clarify that aforesaid media reports are speculative in nature and it is not pursuing any such discussions,' United Spirits told the Bombay Stock Exchange and BSE Surveillance Department. Meanwhile, former Indian Premier League (IPL) chairman Lalit Modi has strongly criticised the Royal Challengers Bengaluru (RCB) franchise and the Karnataka state government for the tragic stampede that claimed 11 lives and left several others injured during the team's victory parade in Bengaluru earlier this month. Following RCB's maiden IPL title win, thousands of jubilant fans gathered outside the M. Chinnaswamy Stadium on June 4, where the official celebrations were held. However, the event took a devastating turn as the overcrowded venue led to chaos when fans attempted to forcefully enter the stadium, resulting in a deadly stampede. Speaking exclusively to IANS, Lalit Modi expressed deep condolences to the families of the victims and labelled the incident as a case of gross mismanagement. "First and foremost, my condolences to the families of those who lost their lives in the stampede. This should never have happened. The entire event was poorly planned and executed," Modi said. "There is so much mudslinging and finger-pointing going on, but the issue is simple — the event should never have been allowed without proper arrangements in place. The authorities failed, and the team management should also have ensured fan safety before participating in the so-called celebrations." (With IANS inputs) Listen to the latest songs, only on
