Saturday, 1 November 2014

BCCI claims damages worth Rs 250 crore from WICB

revenue will go to BCCI.
The dispute surfaced at the start of the tour when West Indies played the first ODI at Kochi. The match though took place after the BCCI intervened.
West Indies captain Dwayne Bravo, unhappy after the West Indies Players Association representative Wavell Hinds failed to solve the stalemate related to payment, had indicated the loss of faith in the WIPA.
The BCCI had earlier announced that it would seek compensation from the WICB for losses sustained as a result of the cancelled tour.
Media rights make up the bulk of the losses with the BCCI estimating them at over 215 million (INR) while ticket sales account for 12.5 million and the title sponsorship from Micromax estimated at 10.01 million.
The BCCI also factored in losses incurred in kit sponsorship from Nike (3.05m), team sponsorship (9.6m) and in-stadia sponsorship (7.5m), in the compensation package.
The WICB confirmed it had received the BCCI letter.
The BCCI letter further said: “The consequences on the BCCI of not delivering a scheduled home tour to its members, sponsors, broadcasters and the fans are multi-fold and crippling.
“The BCCI is faced with huge revenue losses, a loss of reputation and is at risk of losing valuable commercial partners. The consequences of cancellation of a committed home tour during the biggest festival season.
“Diwali in India is a monumental disaster for the BCCI. It is during this season that our partners derive the most value from their rights. Our broadcaster had committed to its advertisers during this season and on account of your actions, is facing a severe crisis the effects of which are felt by the BCCI.”
“The BCCI holds the WICB responsible and liable for all such consequences and intends to enforce its rights to seek compensation from the WICB to the fullest extent permissible in law.”