Covering of Imran pictures in India regrettable: PCB

Agencies
February 18, 2019

Karachi, Feb 18: The Pakistan Cricket Board has said it will take up with the BCCI the "regrettable" removal of pictures of its former players at a couple of venues in India, owing to the Pulwama terror attack, during an ICC meeting this month.

In a statement issued late Sunday night, the PCB's Managing Director Wasim Khan said the PCB Wasim Khan said sports has always played a key role in defusing political tensions. The ICC meeting is scheduled to be held in Dubai from February 28.

"...we have always believed and emphasised that sports and politics should be kept separate. History tells us that sports, particularly cricket, have always played a key role in building bridges between people and countries," Khan said in the statement.

"... covering or removing portrait of former Pakistan cricket captain and Prime Minister Imran Khan and other legendary cricketers from one of the most historic cricket clubs and venues are highly regrettable actions," he added.

The terror attack in Pulwama killed at least 40 CRPF Jawans.

In the aftermath, the Cricket Club of India in Mumbai covered a portrait of Pakistan Prime Minister and former captain Imran Khan, while the Punjab Cricket Association removed photographs of Pakistani cricketers from various points inside the Mohali stadium.

The PCB Managing Director also confirmed that Indian production company IMG Reliance pulled out of producing the Pakistan Super League matches.

"We have been informed by IMG Reliance that they will be unable to partner with us for the remaining PSL 2019 and PCB has reserved all its rights. The PCB always had a contingency plan in place...," Khan said.

IMG Reliance had announced its withdrawal as official production partner for PSL as a mark of protest against the Pulwama attack.

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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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