England Cricket Board and BCCI join hands to scuttle ambitious Saudi T20: Report
The ambitious Saudi T20 league, which is believed to be a USD 400 million project, won't be backed by the BCCI or the England and Wales Cricket Board as they try to protect their respective flagship tourneys from getting diluted, British newspaper The Guardian has reported."During discussions at the World Test Championship final at Lord's this month, the ECB and BCCI agreed to unite in opposing the new league. The boards agreed they would not issue "no objection certificates" to their players to sign up for the new competition, as well as lobbying the International Cricket Council (ICC) to withhold their endorsement," the newspaper wrote.advertisementApparently Cricket Australia (CA) was keen on partnering with Saudi investors in the league.
"Under plans that emerged in Australia this year, Saudi's SRJ Sports Investments has pledged to inject USD 400m to set up the new league, which would have eight teams playing four tournaments in different locations each year in a set-up that has been compared to tennis's Grand Slams," Guardian said.For CA, the main aim is to earn profit from the cash inflow by a private investor as the Big Bash League (BBL) franchises are owned by the governing body and the states.However, IPL is a USD 12 billion product and the ECB is all set to get richer by GBP 520m (USD 700 million) from the sale of 49% of the eight 'Hundred franhises'."Cricket South Africa raised more than GBP 100m (USD 136 million) by selling franchises in its SA20 competition to Indian Premier League owners three years ago."The paper also reported that the ICC, currently run by former BCCI secretary Jay Shah, is unlikely to go against the wishes of the Indian board.- EndsYou May Also Like
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Japan's SMBC seeks CCI nod to acquire 20 pc stake in Yes Bank
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Japan's Sumitomo Mitsui Banking Corporation (SMBC) has sought clearance from the fair trade regulator CCI to acquire a 20 per cent stake in private sector lender Yes Bank The development came after State Bank of India (SBI) and seven other lenders last month announced selling 20 per cent of their combined stakes in Yes Bank to SMBC for a consideration of Rs 13,483 crore, making it the largest cross-border investment in the Indian banking sector "The proposed combination relates to the acquisition of share capital and voting rights of Yes Bank by SMBC," a notice filed with the Competition Commission of India (CCI) said on June is a wholly-owned subsidiary of Sumitomo Mitsui Financial Group, Inc (SMFG). SMFG is the second-largest banking group in Japan with total assets of USD 2 trillion as of December 2024 with a strong global is among the leading foreign banks in India and SMFG's wholly-owned subsidiary SMFG India Credit Company is among the largest diversified NBFCs in proposed transaction does not raise any competition concerns, irrespective of how the relevant market is defined, the parties have said."To assist the CCI in its assessment, the parties have outlined potential overlaps in business activities across various segments, including lending, digital payments, deposit-taking, forex services, investment banking, loans against securities, and cash management," they the completion of the transaction, SMBC will become the single largest shareholder of Mumbai-based Yes Bank Of the 20 per cent stake, SBI would dilute a 13.19 per cent stake in Yes Bank in favour of SMBC for a consideration of Rs 8,889 crore, while 6.81 per cent shareholding will be offloaded by seven other lenders -- Axis Bank IDFC First Bank and Kotak Mahindra Bank -- for about Rs 4,594 and the seven investor lenders had invested in the bank as part of the Yes Bank reconstruction scheme in March 2020. The state-owned SBI currently holds a 24 per cent stake in Yes Bank, will be left with a little over 10 per cent stake after the the fourth quarter ended March 2025, Yes Bank reported a 63 per cent jump in standalone net profit at Rs 738 crore as compared to Rs 451.9 crore in the corresponding quarter a year FY25, the bank's net profit doubled to Rs 2,406 crore as compared to Rs 1,251 crore in the preceding fiscal year.
Time of India
an hour ago
- Time of India
MS Dhoni files trademark for 'CAPTAIN COOL'; he joins ICC Hall of Fame
MS Dhoni (Photo by) MS Dhoni , former captain of the Indian cricket team , has submitted a trademark application for 'CAPTAIN COOL', a nickname that reflects his composed leadership style on the cricket field. The Trade Marks Registry shows the application status as 'accepted and advertised', with publication in the official trademark journal on June 16. The filing was made on June 5. The trademark registration falls under categories covering sports training, facilities, coaching and related services. Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW! Dhoni was unavailable for immediate comment on this development. Another entity, Prabha Skill Sports (OPC) Pvt Ltd, had previously filed for the same phrase, with their application currently showing 'rectification filed' status. Dhoni has recently been selected for the ICC Hall of Fame class of 2025, joining notable cricketers like Matthew Hayden from Australia and Hashim Amla from South Africa. Poll Do you think MS Dhoni will be successful in trademarking 'CAPTAIN COOL'? Yes, it's a strong brand No, there are conflicts Undecided "Celebrated for his calm under pressure and unmatched tactical nous, but also a trailblazer in the shorter formats, MS Dhoni's legacy as one of the game's greatest finishers, leaders and wicketkeepers has been honoured with his induction into the ICC Cricket Hall of Fame," the ICC statement had said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo The ICC praised Dhoni's achievements, noting his excellence went beyond statistics to include "extraordinary consistency, fitness and longevity". MS Dhoni's captaincy of Team India marked a golden era defined by calm leadership, sharp instincts, and historic triumphs. MLC 2025: Unmukt Chand's road to redemption in America Taking over in 2007, Dhoni led India to victory in the inaugural T20 World Cup, followed by the 2011 ODI World Cup and the 2013 Champions Trophy — making him the only captain to win all three ICC white-ball trophies. Known for backing his players, trusting his gut in high-pressure moments, and maintaining an unflappable demeanour, Dhoni reshaped India's cricketing identity. Under his stewardship, India also briefly reached the No. 1 spot in Test rankings, cementing his legacy as one of the most successful and influential leaders in the game's history. Game On Season 1 continues with Mirabai Chanu's inspiring story. Watch Episode 2 here.
Time of India
an hour ago
- Time of India
US dollar's 10% fall in H1FY25 is its worst since 1973: Report
The dollar's sharp decline puts it on course for the the weakest showing over any six months since 2009. The US dollar has slumped over 10% in H1 2025, marking its worst first-half performance since 1973. Weighed down by Trump-era economic policies, rising US debt, and investor unease, the greenback's safe-haven status is under pressure. The dollar index (DXY) has fallen from a 52-week high of 110 to around 97. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads How have other currencies performed? The US dollar dropped over 10% in the first half of 2025 — its worst H1 performance since 1973 — as global investors weigh the impact of President Donald Trump's economic policies and remain uncertain about holding exposure to the world's dominant dollar index (DXY) which measures the strength of greenback against six major currencies including euro, Swiss franc, Japanese yen and British pound is hovering near the 97 mark. In 2025, so far it has declined by 10.4%. From a 52-week peak of 110, the fall has been to the tune of 13%.A Financial Times report said that the fall reflects the worst start to the year since the end of the gold-backed Bretton Woods system. The dollar's sharp decline puts it on course for its worst first half of the year since a 15 per cent loss in 1973 and the weakest showing over any six months since 2009, the report read: Reliance Power extends winning streak, up 13% in 5 sessions. What's fueling the surge? This system was a global monetary framework established in July 1944 at a conference in Bretton Woods, New Hampshire, USA. It created a system of fixed exchange rates, with the US dollar at the start-pause tariff war, differences with the Federal Reserve, and US' rising debt is undermining the safe haven appeal of the dollar for investors, Francesco Pesole, an FX strategist at ING said, while noting that the dollar has become the "whipping boy of Trump 2.0's erratic policies'.The currency was down 0.2% on Monday as the US Senate prepared to begin voting on amendments to Trump's 'big, beautiful' tax legislation, which is being described as a landmark by the Trump administration, is expected to add $3.2 trillion to the US debt pile over the coming decade, the FT report said. It has already fuelled concerns over the sustainability of Washington's borrowings, sparking an exodus from the US Treasury read: Raymond Realty's debut sparks 15% rally in parent Raymond, 16% in lifestyle arm Against the Wall Street banks' prediction of fall, the euro has risen 13% to above $1.17 as investors have focused on growth risks in the world's biggest economy — while demand has risen for safe assets elsewhere, such as German bonds. The euro was estimated to fall to parity with the dollar this has appreciated about a 7–8% against JPY while the British pound has gained nearly 3% against the dollar.
