‘Staggering’: Shane Warne blown away by $2.1 billion cricket mega deal

Cricket greats and commentators have been stunned by a jaw-dropping development that sets a new benchmark for cricket’s future.

Top Football, Cricket Ecosystem

25/10/2021 11:45:00 PM

Cricket greats and commentators have been stunned by a jaw-dropping development that sets a new benchmark for cricket’s future.

A controversial US capital venture fund and an Indian tycoon bid more than $AUD2.1 billion dollars between them to set up two new teams in the Indian Premier League , the world’s richest cricket tournament .

Catch all the ICC T20 World Cup action live & exclusive to Fox Cricket, available on Kayo. New to Kayo?Start your free trial todayCVC Capital partners promised more than $920 million to set up a team in Ahmedabad at the world’s biggest cricket stadium.

The IPL will increase from eight to 10 teams from 2022 as it seeks to capitalise on its growing international popularity with increased fees for its television and other rights.The winning bids beat 20 other top Indian conglomerates and international concerns such as the Glazer family, owners of English Premier League giants Manchester United, to secure the new teams.

Read more: news.com.au »

Australia's 'intentions clear' as China pushes sweeping Pacific security deal

Micronesia warns the agreement "threatens to bring a new Cold War era at best, and a world war at worst." Read more >>

Sets a new foundation for a sport similar to cricket and ideally suited to the entitled and concentration challenged generation of of snifters we’ve become🏏

Telstra secures deal to buy largest telecommunications company in the Pacific with Canberra's supportThe $2.1 billion deal to acquire and run Digicel Pacific will be largely funded by the Australian government, in a move widely seen as an attempt to counter China's influence in the region. why do we need to waste money on the Pacific? Let China funds it n we just cut off all routing from Pacific standards going down prices going up Telstra secures deal to buy largest telecommunications company in the Pacific with Canberra's MONEY would be a more accurate headline - 'support' inplies incidental impact, NOT 90% of the cost. 💰

Parts of regional Queensland won't hit vaccination target before borders reopen, authorities warnActing Deputy Police Commissioner Shane Chelepy, the man in charge of Queensland's vaccination rollout, says many regions — and Indigenous communities in particular — are not moving fast enough to get the COVID jab. Oh look, the seat of Dawson (George Christensen) is lagging well behind the state in vaccinations. What a surprise. we can all be replaced with visa workers And no one cares, not even the people who may die from it

‘I wanted white skin’: Why Khawaja went from changing himself to game changerWhen he was younger, Usman Khawaja wanted to change himself to fit in. Now, he wants to change cricket | danbrettig danbrettig Aren’t the majority of the world’s cricket players South Asian (India, Pakistan, Bangladesh), with a lot more of them Muslim than Christian (Pakistan, Bangladesh)? This is a country with a white majority so why does it surprise you the players and admins are likewise mostly white

Usman Khawaja on race and Australian cricketWhen he was younger, Usman Khawaja wanted to change himself to fit in. Now, he wants to change cricket. Everything is political now - even washed up cricketers seem to remember the don was a tea totaller ... and dav whatmore wasnt anglo saxon nor the agar brothers ...but hey its a good article as long as you give it some leeway .....seems AFL and NRL have been more multi cultural is that due to talent or a deliberate program 🤔🤔🤔

Colombia's most wanted drug lord captured in jungle raidColombia's president says the capture of Dairo Antonio Úsuga is 'the biggest blow against drug trafficking in our country this century'. Don't hold your breath. The replacement has already happened. 'A blow against drugs', what crap. ChigerwePrinx One down someone will simply step into his shoes

Car seen leaving Blow Holes area around time Cleo went missingThe small town community of missing girl Cleo will be invited to write messages of love and support to the four-yearold and her family at a community vigil to be held in the town on Sunday night CleoSmith missing What evidence would they have? Police wouldn't even know if I crossed the border. Police wouldn't even know how to find their missing keys...

Sanjiv Goenka, whose RPSG conglomerate includes power, music and plantation concerns, offered more than $1.24 billion at an auction in Dubai to set up a team in the Indian city of Lucknow, the IPL said. Catch all the ICC T20 World Cup action live & exclusive to Fox Cricket, available on Kayo. New to Kayo? Start your free trial today CVC Capital partners promised more than $920 million to set up a team in Ahmedabad at the world’s biggest cricket stadium. The IPL will increase from eight to 10 teams from 2022 as it seeks to capitalise on its growing international popularity with increased fees for its television and other rights. The winning bids beat 20 other top Indian conglomerates and international concerns such as the Glazer family, owners of English Premier League giants Manchester United, to secure the new teams. Cricket greats were blown away by the size of the winning bids. Aussie legend Shane Warne tweeted: “Wow! Congratulations to both of the new franchise owners. Staggering amounts of money for each team & shows why cricket has become the 2nd most popular & biggest sport on the planet.” Ashes-winning England captain Michael Vaughan wrote: “With the 2 new franchises going for huge numbers it’s now very clear the IPL is the most powerful aspect of game now. It’s inevitable that we will see more games & longer tournaments.” Ex-Indian opener turned pundit Aakash Chopra said on social media “the valuation of the new teams has taken the #IPL to a whole new level” while respected Indian broadcaster Harsha Bhogle added: “I must admit I am blown away by the size of the bids. The cricket economy just gets more buoyant and I don’t see how it can stop at 74 games a year. This is a huge vote of confidence in the Indian consumer’s willingness to watch the IPL.” The IPL has become the biggest cricket show on the planet. (Photo by Sajjad Hussain/AFP) The Luxembourg based CVC has a cash chest of more than $130 billion which it has used in recent years to change international sport. CVC has already spent several billion dollars to take major stakes in international rugby union and top football properties such as Spain’s La Liga championship. It has also bought into the International Volleyball Federation, previously owned Formula One and has been in talks in recent months to merge the men’s and women’s international tennis tours and to take a stake in the San Antonio Spurs NBA franchise. Sourav Ganguly, president of the Board of Control for Cricket in India, which runs the IPL, said it was “heartening” to see the teams sold for “such a high valuation”. “It reiterates the cricketing and financial strength of our cricket ecosystem,” Ganguly said. He added the involvement of two foreign bidders, CVC and the Glazers, “strongly emphasises the global appeal of the IPL as a sports property. The IPL is proving to be a wonderful instrument in globalising the game of cricket”. RPGS owns one of India’s top football teams, Mohun Bagan, and used to be part of the IPL with the Rising Pune Supergiants, which took part in the tournament when two teams were banned in 2016-2017 over a corruption scandal. Members of the two teams were charged with illegal betting and spot-fixing. The IPL has been dogged by other corruption and gambling scandals. But it attracts huge TV audiences in India, and has spawned T20 tournaments around the globe. Its brand value was estimated at nearly $9 billion in 2019 by the Duff and Phelps financial consultancy. Before the coronavirus pandemic, it was estimated to generate more than $14.6 billion for the Indian economy each year. With AFP