RCB players in the lurch over payments

mhsabir

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IPL news: RCB players in the lurch over payments | India Cricket News | ESPN Cricinfo

As the song goes "Yeh toh hona hi tha "

Several leading India and overseas players contracted to Royal Challengers Bangalore, including team captain Daniel Vettori, are awaiting the first instalment of their fees for the 2012 season. Australia allrounder Andrew McDonald is believed to be another player who has not been paid, along with some members of the support staff.

Though this is the first season that Royal Challengers have delayed on payments on this scale, the players affected are concerned by the lack of response from franchise officials to their queries. The news comes at a time when the Bangladesh Premier League is in the headlines for non-payment of salaries to its overseas players.

Franchise officials, including team director Siddhartha Mallya, did not respond to repeated requests over several days by ESPNcricinfo for comments on the issue.
 

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Oh is it? Well, there are bigger things to worry as well

Vijay Mallya may sell RCB stake to escape debt trap - Business News - IBNLive

Vijay Mallya's acquisition of the brand White & Mackay helped United Spirits reach the top of the global pyramid, but it came at a cost. Its debt has surpassed Rs 7,000 crore and the company is looking at monetising its non core assets to bring this down to manageable levels.

When the price is right, these assets could well include treasury stocks, a stake in United Breweries, and even a stake in its cricket franchise Royal Challengers Bangalore - all worth between Rs 1,500 and Rs 2,000 crore.

Ashok Capoor, President & MD, USL, said, "We have non core assets we can monetise anytime - treasury stocks, UBL stocks, Royal Challengers. But we will not do any selling at this stage. We will only sell when the price and timing are right to bring our debt down in the future

Not to mention 6 months unpaid salary to KFA employees.
 


mhsabir

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Deccan joins the fun

IPL franchises in a fix over non-payments - Yahoo! Cricket India

After it was found on Thursday that RCB was procrastinating over clearing their dues, Deccan Chargers were discovered to be guilty of holding back payments to contracted players, including some Indian players - most of whom have allegedly received just 15 per cent of their due.

The UB Group-owned RCB has reportedly held back payments except to Indian players and Chris Gayle, who inhabits a category of his own.

South African players appear to be the most affected. Five of them - including A.B de Villiers (RCB), Dale Steyn (DC), JP Duminy (DC) and Juan Theron (DC) - have not yet received their salaries.


Of all the franchises, only Chennai Super Kings and Mumbai Indians are believed to have their financial affairs in ship shape, at least so far as player payments are concerned.

Sub-continental leagues largely function in a morass of financial murkiness. Bangladesh Premier League is already engaged in a dirty slanging match with the FICA over payment issues for the 2012 season.

Possibly to close out loopholes of deception, the latest league to join the fray - the Sri Lankan Premier League - has introduced a bank guarantees clause in contracts.
 

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IPL 2012 news: FICA sidelined in IPL salary issue, says May | India Cricket News | ESPN Cricinfo

May said the Royal Challengers and Deccan Chargers managements have not replied to correspondence from FICA regarding the salaries they still owe players. "We try to become directly involved but we never receive any responses from the Indian Premier League, which is frustrating for all," May said.

Several members of the Royal Challengers 2012 squad, including captain Daniel Vettori, are still awaiting the first instalment of their pay, while salaries are also owed to members of the Deccan Chargers side. May said FICA had advised players to make queries through their home boards, as FICA have been rendered powerless by the IPL's stonewalling. National cricket boards' requests for status updates on the outstanding payments were also yet to be answered, May said.
 

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India Cricket News: India news: BCCI summons RCB over player payments | ESPN Cricinfo


The BCCI has asked IPL franchise Royal Challengers Bangalore to get NOCs from its players on a revised payment schedule. As reported by ESPNcricinfo, several India and overseas players contracted to the franchise, including team captain Daniel Vettori, have not been paid the first installment of their salaries for the 2012 season.

"The IPL governing council today summoned the RCB officials to the governing council meeting to discuss on the players' payment issue," a senior governing council member told PTI. "After discussions, the BCCI has asked RCB to get 'No Objection Certificate' from the cricketers on the revised payment schedule. The franchise has promised that they would produce the NOC in some time."
 


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India Cricket News: Deccan Chargers asked to pay its players by August 31 | ESPN Cricinfo

The IPL governing council has set August 31 as the deadline for the owners of Deccan Chargers franchise to clear player payments and sort out the financial problems with the banks to avoid any stringent action. In an emergency meeting called on Tuesday in New Delhi, the governing council confronted the owners of Deccan Chronicle Holdings Limited, who hold the rights for the Hyderabad-based franchise, to explain in detail as to why the company had mortgaged the team ownership rights with two leading Indian banks.
 

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