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Star India paid $420 mn as compensation to the BCCI, Cricket Australia and Cricket South Africa for scrapping the unpopular Champions League T20. The compensation of $420 mn, paid in July 2015, is inclusive of service tax.
BCCI, Cricket Australia, and Cricket South Africa combine will earn $330 mn from Star for exiting the tournament midway. The BCCI’s share of that compensation is estimated to be about $190 mn.
The news will bring relief to commercial rights owner Star India, which was in favour of scrapping the tournament as it was not garnering enough viewership.
IPL franchise Kings XI Punjab has announced its association with Nafex.com as the leading arm sponsor and Shrey as back of the helmet sponsor for the ongoing Champions League T20 2014.
There will be no broadcaster for the sixth edition of the Champions League T20 in Australia as free-to-air commercial network Channel Ten will not air the tournament.
Oppo Mobiles India has acquired the title sponsorship rights to the upcoming season of Champions League T20 (CLT20) that kicks off next week.
Kings XI Punjab and AirAsia today announced their association for the Champions League T20 2014. AirAsia will be the official back of the shirt sponsor of the franchise.
TV & jersey sponsorship are two powerful combinations to build brands, says Star India COO; deal covers 100 matches, which means Star will pay Rs 1.92 bn.