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ICC Chair N. Srinivasan Gives Up CSK Stake For Ex-Cricketers' Welfare

Published in SportsBusiness Daily Global on 05 / 05 / 15

Former Board of Control for Cricket in India President N. Srinivasan, who controls 29% of the shares of India Cements Ltd., the principal owners of the Indian Premier League side Chennai Super Kings, has "transferred his entire stake" in the IPL franchise, the India Cements Cricketers Trust -- which...

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Sauber In Talks With Canadian Billionaire

Sauber's future in F1 "could be boosted if talks with Canadian billionaire Lawrence Stroll to buy in to the team are successful," according to Noble & Rencken of AUTOSPORT. Stroll, who made his money in the clothing industry with Polo Ralph Lauren and Tommy Hilfiger, "is interested in getting in ...

Tags: Franchises, Europe

NRL Wests Tigers Names Chair

National Rugby League side Wests Tigers new chair, Marina Go, "will now actually have a major say on the direction of the troubled joint venture," according to Chris Barrett of the SYDNEY MORNING HERALD. The NRL's second female chair of a club will "hit the ground running this week, with out-of-cont ...

Tags: Franchises, Australia

Ferrari Boss Denies Rumors

Ferrari F1 President Luca di Montezemolo "dismissed reports he is set to leave the Italian team, claiming he is prepared to stay in charge" until '17, according to the AP. He said, "I've seen the hue and cry of the past few days, I found it excessive. I'm here to work. Today, tomorrow, the upcoming ...

Tags: Franchises, Europe

Bayern's Squad The Most Expensive

This year's Bayern Munich squad "is the most expensive in club history," according to Psotta & Verhoff of BILD. The team's "top earners are Philipp Lahm, Franck Ribery and Mario Götze," who all make an estimated €12M ($15.6M) annually. They "are followed by Bastian Schweinsteiger, Thom ...

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Genoa Boss Sheds Light On Wage Cut

Serie A side Genoa President Enrico Preziosi "shed some light on his club’s financial operations, including a wage-bill cut" of around €20M ( $26M), according to FOOTBALL ITALIA. In an interview with Il Secolo XIX, the toy magnate "explained that his side have made some significant savin ...

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Real Priciest La Liga Team For Fans

A study by peer-to-peer lending platform Lendico found that it "costs more per year to be a fan of Real Madrid than any other La Liga club," according to the EFE. The "cheapest team to support is Eibar." The study found that Real fans spend an average of €3,464 ($4,553) per year, while the annu ...

Tags: Europe, Franchises

Franchise Notes

Luis García-Abad, the manager of Ferrari F1 driver Fernando Alonso's cycling team, said that the team is "completing every step with caution" to comply with the Int'l Cycling Union (UCI). Alonso's objective is to "have the team compete in the World Tour." García-Abad said, "Last week w ...

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U.S.-Based F1 Team Changes Name

What was initially known as Haas Formula is now Haas F1 Team. Gene Haas, founder of Haas Automation and chairman of the newly renamed Haas F1 Team, opted for the name change to better correlate his team with motor racing’s most prestigious series -- the FIA Formula 1 World Championship. Haas F ...

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Rangers Chair Claims He's Underpaid

Scottish Championship side Rangers Chair David Somers "has made the stunning claim he is being underpaid" -- after leading the club to the brink of financial collapse, according to Gary Ralston of the Scotland DAILY RECORD. His admission "is set to anger the supporters" who have been told the club h ...

Tags: United Kingdom, Franchises

Merecedes F1 Disciplines Nico Rosberg

Mercedes F1 has "taken disciplinary action against Nico Rosberg following his collision" with teammate Lewis Hamilton in the Belgian Grand Prix, according to Andrew Benson of the BBC. Rosberg "accepted responsibility for the collision," calling it an "error of judgement." Mercedes handed out an "und ...

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