Insurance in focus for the IPL
Feb 27th, 2008 | By Aditya | Category: Teams, Top Stories
After paying the super-high annual salaries to the cricketers, the teams have now settled back to wonder what happens if their 6-Crore-a-year Dhoni ends up injured and can’t play. Solution? Insurance!
The BCCI contract requires the teams to buy insurance to cover these kinds of eventualities. This has scope for plenty of scope for innovation in the financial markets. How are they going to determine the risk of Symonds getting beating up by the crowd for sledging and not being able to play in the tournament? Jokes apart, this is just one aspect of the complicated financial management that the teams will have to go through.
This is not a problem for the teams owned by the corporates, since they already have a lot of experience with this kind of stuff. The Bollywood stars, on the other hand, are hopefully thinking of hiring some experts.
Talking about financial management, there were some very interesting rumors a while ago that some of the IPL teams could be listed on the stock exchanges. That’s just fabulous! If that happens, then you can truly own a piece of the team, and get a part of the high-stakes action!
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