I am not sure if it is a good news or bad news for Indian Cricket League (ICL). Essel Sports is planning to sell 25% of ICL to get some healthy amount of money so that they can run ICL better. The interesting thing is that the initial impression about ICL was that money was no problem and Subhash Chandra would spend as much money needed to make ICL a grand success.
Business Standard reported:
Subhash Chandra's Essel Sports is looking at raising up to Rs 200 crore by divesting 25 per cent to private equity companies to finance its troubled Indian Cricket League (ICL) and other domestic cricket projects.
Confirming this, Asish Kaul, executive vice-president of Zee Entertainment Enterprise Ltd and Essel Group spokesperson, said: "Several companies have come forward to associate themselves with Essel Sports. Indian and foreign institutional investors have also shown interest in being equity partners.”
He added that no decision has been taken yet since “the company’s focus has been to get ICL off the ground”.
Well, I think that ICL is trying to get some more companies on board so that it can form some sort of an alliance and fight against mighty BCCI. You know that BCCI bosses have not left any stone unturned to ensure that ICL cannot become a success story. I feel that ICL bosses should focus more on media publicity. Ultimately, it is the TV viewers who can make or break ICL not BCCI or any business company.
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i don't know selling 25% share is good or not for ICL. But i think it can help ICL organizers to continue their job easily.
Posted by: kamrul hasan | November 21, 2007 3:00 PM | Permalink to Comment