Executive Transactions Names In The News FFA Records $6.2M Profit For '13-14 La Liga Valencia Discards New Bat Logo Qatar Reveals Third WC Stadium Design Qatar Looks To Enter F1 Circuit Healthpoint Partners With Man City Sony Reportedly Will Not Renew FIFA Deal Portsmouth To Host America's Cup Races BBC To Show All FIFA Women's WC Games
SBD Global/October 19, 2012/FranchisesPrint All
The cash-strapped Indian Premier League Deccan Chargers will remain terminated from the IPL after the Bombay High Court on Thursday "set aside a status quo order passed by an arbitrator on cessation of its membership in the league," according to the PTI. Justice R D Dhanuka "quashed the status quo order passed by the arbitrator" appointed by the High Court to resolve the dispute between Board of Control for Cricket in India and Deccan Chronicles Holdings Ltd. On another petition filed by DCHL against termination of the contract of its IPL franchise, the court "refused to grant any interim relief." Legal experts opined that the court's orders on the two petitions "effectively means that the termination of Deccan Chargers' IPL membership would stand." Dhanuka said, "Arbitrator had no jurisdiction to grant status quo." He added that the arbitrator is not "superior" to the High Court and hence "cannot pass an order which overrides the high court's direction" (PTI, 10/18).
A new joint venture has been launched "to revive" Australia's former National Basketball League team Brisbane Bullets, according to Greg Davis of the COURIER-MAIL. The Brisbane Bid Group is a partnership between Basketball Queensland, Basketball Australia and private equity investor Brisbane Bullets Queensland Pty Ltd. The group is "aiming to have the Bullets bounce back" into the NBL by the '13-14 season and has appointed former Queensland Olympic Council Exec Dir Michael Brierley as full-time CEO (COURIER-MAIL, 10/18). In Sydney, Peter Kogoy wrote that Brierley, 43, said, "We are looking at several business models. The Hawks in Wollongong and Taipans in Cairns are largely community-owned while the clubs in Townsville and Sydney are investor-backed. At this stage we are ruling nothing out in our bid to bring back basketball to southeast Queensland." Basketball Queensland CEO Graham Burns said that it was "vital that the Bullets returned." Burns: "We see a Brisbane-based NBL team as of great importance to the league, the sport and the southeast Queensland region" (THE AUSTRALIAN, 10/19).
Scottish Third Division Rangers moved a "significant step closer to their inevitable liquidation" when creditors approved the end of the administration process. The administrators have instructed lawyers to make a "formal application to place the company into liquidation" in the Court of Session (Scotland DAILY RECORD, 10/17). ... League One club Portsmouth's administrators have nominated Portsmouth Supporters Trust as its "preferred bidder." Administrator PKF partner and Portsmouth Joint Administrator Trevor Birch said, "We will be working with the Trust, the Football League and the Professional Footballers' Association to conclude the sale of the club as soon as possible" (PA, 10/18).