MP Sachin Tendulkar gets five-bedroom house in Delhi, two escort cars

June 9, 2012

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Indian cricket legend Sachin Tendulkar has been offered a free five-bedroom house in the centre of New Delhi as a perk of his new post as a member of parliament, reports said on Friday.

Tendulkar, already a multi-millionaire due to his sporting success and lucrative sponsorship deals, was sworn into the upper house earlier this week, claiming a seat reserved for distinguished figures in Indian public life.

He has been offered a colonial-era bungalow with large lawns on one of the smartest streets in the capital, the Press Trust of India agency reported, adding he would be provided with 24-hour security and two escort vehicles.

"He has been allotted (a) bungalow allotted mostly to ministers and senior MPs," an unnamed official told the Times of India on Friday, though he said it was unclear whether Tendulkar would accept the free accommodation.

The paper said the house had five bedrooms and would be renovated before the next parliamentary session begins in about one month.

Tendulkar, who is worshipped by millions of avid cricket fans across India, is the first active sportsman to be nominated for the upper house.

The appointment attracted some criticism from the press and opposition lawmakers who described it as a crass populist move by a struggling government.

Tendulkar, 39, no longer plays international Twenty20 cricket but is still one of the world's leading one-day international and Test match players and competed in the recent Indian Premier League (IPL) season.

He has previously been careful to steer clear of politics and when he was sworn in on Monday he said that he would continue to concentrate on his playing career.

It remains unclear how involved he will become in parliament after his retirement.



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News Network
March 22,2024

IPL.jpg

The start of the world’s most lucrative cricket tournament in India is presenting investors with another big opportunity to cash in on the sport, months after the world’s most populous nation hosted the Cricket World Cup.

The eight-week long Indian Premier League begins March 22 for its 17th season. Since its inception, the fast-paced cricket tournament has become a corporate juggernaut to rival the National Football League in the US and the English Premier League in value.

Just as October’s Cricket World Cup boosted consumption in India for months, fans are expected to flock to restaurants, pubs and food delivery platforms over the duration of the tournament. This year’s IPL also coincides with general elections that will last for six weeks starting April 19, a period when companies are expecting higher food and drink sales as people flock to rallies and other events.

“There’s going to be a lot of spending,” said Madan Sabnavis, chief economist at Bank of Baroda. “IPL, as well as the election, gives a three-month corridor with enhanced economic activity.”

Stocks in India such as McDonald’s franchise operator Westlife Foodworld Ltd. and peer Sapphire Foods India Ltd. gained ahead of the first match on Friday, as well as hotels and beverage makers. Packaged-food companies could also stand to benefit from the IPL craze, said Sachil Bobade, an analyst at investment firm Dolat Capital Market.

The IPL ecosystem was valued at $11 billion (Rs 91,721 crores) in 2023, including the value of media rights and sponsorships, according to Indian valuation consulting firm D&P Advisory.

The league is also attracting record sums of money from sponsors and broadcasters. Conglomerate Tata Group won the title sponsorship rights of the tournament in January for a record 25 billion rupees ($300 million). Billionaire Mukesh Ambani’s media venture secured the digital streaming rights in 2022 for five years for $2.7 billion, while Walt Disney Co. paid roughly the same for TV rights.

“There was a serious amount of bidding even this year,” said Vinit Karnik, head of entertainment, esports and sports at media agency GroupM South Asia. “I see growth in IPL in double digits year-on-year,” he adds.

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