Sahara in Rs 400 mn sponsorship deal with Hockey India
MUMBAI: Business conglomerate Sahara India, which has interests in finance, real estate and media, has renewed its sp
MUMBAI: The impasse between the BCCI and Subroto Roy?s company Sahara walking out of the IPL and the Indian cricket team?s sponsorship continues.
After the Working Committee meeting, the Board of Control for Cricket in India (BCCI) president N Srinivasan said Monday that the board is not ready to make an exception for Sahara?s demand that the money spent on an ailing Yuvraj Singh be part of the Pune Warriors? auction purse. However Sahara can get a replacement for Singh who is in the US undergoing treatment for cancer.
India?s cricket board has said that exceptions cannot be made for the company. Srinivasan clarified that the ball is now in Sahara?s court.
"The BCCI has responded positively within the framework of its rules but it is not possible to create an exception because observance of the regulations is important for the integrity of the league. The issues raised by Sahara were placed before the Working Committee today and we have communicated our response to Sahara. We hope that their response will be favourable. It is now up to them and we?ll wait to see what their reaction is," Srinivasan asserted.
MUMBAI: Cricket?s loss might be Hockey?s gain as disgruntled Sahara Group is mulling renewing its agreement with Hockey India, which ended last month with a hefty increase in sponsorship fee.
The development comes even as the two parties are planning to engage in back-room parleys to hammer out a solution over several vexed issues like replacement player for Yuvraj Singh and reduction in franchise fee topping the agenda.
According to newswire PTI, Sahara and cash-strapped Hockey India will sign a new five-year deal worth around Rs 150-170 million.
The agreement would include men?s and woman?s team at both senior as well as junior level till 2017.
"More or less everything has been finalised. Most probably tomorrow, the agreement would be signed. We are hoping for a deal worth between Rs. 15 to 17 crore (Rs 150-170 million) because we need more money to promote the sport," an HI official has been quoted as saying.
Sahara India head of corporate communications Abhijit Sarkar said a decision will be taken in next two-three days.
"Nothing has been finalised as yet. Talks are on with Hockey India and within next 2-3 days we are expecting to take a decision," Sarkar said. "Our sponsorship deal with Indian hockey ended last month after and Hockey India has approached us to renew the contract," he added.
Sahara recently announced its decision to pull out of all cricketing activities which included franchise ownership of IPL team Pune Warriors India and shirt sponsorship of the Indian men?s and women?s team.
The company had indicated that it might step-up investments in other sports that it supports which includes Hockey, Boxing, Archery, and Shooting among others.
MUMBAI: BCCI president N. Srinivasan has said that cricket?s richest board is willing to meet with Sahara and have have discussions to resolve contentious issues.
On Saturday Sahara had announced that it was cutting off ties to cricket, including the IPL where it owned a franchise.
Srnivasan said Monday BCCI has had a good relationship with Sahara. "Most certainly, we are ready to meet and sort out the matters. We have no problems with that. We do appreciate what Sahara has done. I am open to dialogue and BCCI is open to dialogue. We recognise there were grievances on their part but there was no reason to break suddenly."
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