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Author Topic: Stanford pulls out ...who next?  (Read 1006 times)

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keep-it-cool

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Stanford pulls out ...who next?
« on: December 17, 2008, 07:34:59 AM »

I have not see this anywhere else ..so, not sure whether it is true or just "sources" based nonsense.

One of the reasons why I think private involvement in cricket or any sport, for that matter, should be regulated. Recession comes, he finds his RoI not good enough ... there bursts the bubble!!

Who next? Chandra? Mallya? Deccan Chronicle?, TVS Sriram?

http://www.mailonsunday.co.uk/sport/cricket/article-1096093/EXCLUSIVE-Stanford-ducks--ECB-chief-Clarke-faces-chop-tycoon-bails.html

EXCLUSIVE: Stanford ducks out - ECB chief Clarke faces the chop as tycoon bails

By PAUL NEWMAN

Allen Stanford has threatened to walk away from cricket, plunging both the English and West Indian games into financial chaos.
It follows his liaison this year with the England Cricket Board that has left him $40million out of pocket. The decision by Stanford to axe his board of legends, including Sir Viv Richards, was revealed to his staff on Tuesday. The five-year deal between the American billionaire and the ECB, which led to the embarrassing Stanford Super Series in Antigua in October, was close to collapse when Stanford told his collection of former West Indies greats that he had decided to pull the plug.
Stanford gave $20m to the collection of West Indian players who thrashed England by 10 wickets and is said to have lost the other $20m chasing television and sponsorship deals that never materialised, including a highly optimistic attempt to woo the American market.

It promises to leave cricket in the West Indies, which was supposed to be the principal benefactor from Stanford's largess, in a desperate situation. It also provides acute embarrassment for ECB chairman Giles Clarke, who had formed an uneasy alliance with Stanford in a bid to keep England's governing body at the same financial levels as India's powerful cricket moguls.
Stanford told staff at his Antiguan cricket office on Tuesday that he is dissolving his board of legends, which also includes Courtney Walsh and Curtly Ambrose, and curtailing his involvement in cricket following the backlash that greeted England's participation in a tacky venture that brought nothing but anguish to the English game.
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dextrous

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Re: Stanford pulls out ...who next?
« Reply #1 on: December 17, 2008, 07:38:04 AM »

I was right about this--what a grand waste of money this was. Not sure why he wasted so much money on a single game of no consequence when he could've made some money with a serious plan with the 20 million dollars...joined hands with ICL or the English board to make a competetive challenger to IPL. Alas, he was a fool.
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keep-it-cool

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Re: Stanford pulls out ...who next?
« Reply #2 on: December 17, 2008, 07:42:03 AM »

I was right about this--what a grand waste of money this was. Not sure why he wasted so much money on a single game of no consequence when he could've made some money with a serious plan with the 20 million dollars...joined hands with ICL or the English board to make a competetive challenger to IPL. Alas, he was a fool.

I dont think it is just about that one match ...the entire effort through the Stanford T20 league was to encourage more viewership in the US ... that was the market he was really after.

Also, with money no longer available as freely as earlier, it is very difficult for one person or company to take on the entire burden. For instance, Zee has already been promising investors & analysts that there will be no additional spending on ICL from here on.

The franchisee model works much better because it is spread across so many people - some may fail while others would carry on. Those who fail can be brought out - again, because the buyer is not taking on responsibility for all 80-90 players - making it much more manageable.
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dextrous

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Re: Stanford pulls out ...who next?
« Reply #3 on: December 17, 2008, 07:45:14 AM »

I was right about this--what a grand waste of money this was. Not sure why he wasted so much money on a single game of no consequence when he could've made some money with a serious plan with the 20 million dollars...joined hands with ICL or the English board to make a competetive challenger to IPL. Alas, he was a fool.

I dont think it is just about that one match ...the entire effort through the Stanford T20 league was to encourage more viewership in the US ... that was the market he was really after.

Also, with money no longer available as freely as earlier, it is very difficult for one person or company to take on the entire burden. For instance, Zee has already been promising investors & analysts that there will be no additional spending on ICL from here on.

The franchisee model works much better because it is spread across so many people - some may fail while others would carry on. Those who fail can be brought out - again, because the buyer is not taking on responsibility for all 80-90 players - making it much more manageable.

well zee and sanford couldve split the burden--4 teams each to start with.

this was a gamble...i understand the US strategy but he went in without a proper marketing team or plan
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keep-it-cool

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Re: Stanford pulls out ...who next?
« Reply #4 on: December 17, 2008, 08:02:56 AM »

I was right about this--what a grand waste of money this was. Not sure why he wasted so much money on a single game of no consequence when he could've made some money with a serious plan with the 20 million dollars...joined hands with ICL or the English board to make a competetive challenger to IPL. Alas, he was a fool.

I dont think it is just about that one match ...the entire effort through the Stanford T20 league was to encourage more viewership in the US ... that was the market he was really after.

Also, with money no longer available as freely as earlier, it is very difficult for one person or company to take on the entire burden. For instance, Zee has already been promising investors & analysts that there will be no additional spending on ICL from here on.

The franchisee model works much better because it is spread across so many people - some may fail while others would carry on. Those who fail can be brought out - again, because the buyer is not taking on responsibility for all 80-90 players - making it much more manageable.

well zee and sanford couldve split the burden--4 teams each to start with.

this was a gamble...i understand the US strategy but he went in without a proper marketing team or plan

It wouldnt have worked because Stanford's major revenue stream was ad revenues & television coverage rights while Zee wanted to keep that for Zee Sports (that being the SOLE reason why the entire effort was started), thereby kickstarting his dead channel.
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keep-it-cool

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Re: Stanford pulls out ...who next?
« Reply #5 on: December 17, 2008, 08:40:50 AM »

And now, the ECB denies ... actually not a straight denial ..just that they are unaware if these are true

ECB denies reports Stanford is bailing out

http://content-eap.cricinfo.com/england/content/current/story/382556.html

Cricinfo staff

December 17, 2008

The ECB has denied reports in the Daily Mail that Sir Allen Stanford is set to pull the plug on his investment in cricket.

The newspaper claims that Stanford yesterday decided to axe his so-called board of legends who he had recruited as brand ambassadors. It added that he lost more than US$40 million on the inaugural Stanford 20/20 for 20 and failed to break into the lucrative television market in the USA which was one of his core objectives.

Stanford signed a five-year deal with the ECB last summer, and Giles Clarke, the ECB chairman, told reporters in Chennai that he was unaware of any developments.

"We are unaware of the alleged developments," an ECB spokesman told Sky Sports. "One of the problems we have is that we are five-and-a-half hours ahead of London, who in turn are five hours ahead of America so we are going to have to juggle time zones." If the reports are true then it will have an even more serious impact on cricket in the Caribbean.

Most of the islands have been boosted by Stanford's investment, and the cash-strapped West Indies Cricket Board is increasingly reliant on his money to stay afloat.
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Blwe_torch

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Re: Stanford pulls out ...who next?
« Reply #6 on: December 17, 2008, 05:03:54 PM »

the stanford model is the best and the ultimate. he only needed to buy out all the players worth their caps. anyway, if stanford needed to bail out....too bad....but there will always be a rutherford or bedford or murdoch, chandra, singh or ching.  ::cheers::
we can very well do without regulators like the incompetent and politicking bcci or it's cutie-pie franchisees..
« Last Edit: December 17, 2008, 05:24:37 PM by Blwe_torch »
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keep-it-cool

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Re: Stanford pulls out ...who next?
« Reply #7 on: December 18, 2008, 04:01:54 AM »

the stanford model is the best and the ultimate. he only needed to buy out all the players worth their caps. anyway, if stanford needed to bail out....too bad....but there will always be a rutherford or bedford or murdoch, chandra, singh or ching.  ::cheers::
we can very well do without regulators like the incompetent and politicking bcci or it's cutie-pie franchisees..

Just another blanket statement without any reasoning or logic behind it. Nothing new!
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gouravk

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Re: Stanford pulls out ...who next?
« Reply #8 on: December 18, 2008, 04:31:13 AM »

exactly.  ::cheers::
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Blwe_torch

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Re: Stanford pulls out ...who next?
« Reply #9 on: December 18, 2008, 05:48:26 AM »

the stanford model is the best and the ultimate. he only needed to buy out all the players worth their caps. anyway, if stanford needed to bail out....too bad....but there will always be a rutherford or bedford or murdoch, chandra, singh or ching.  ::cheers::
we can very well do without regulators like the incompetent and politicking bcci or it's cutie-pie franchisees..

Just another blanket statement without any reasoning or logic behind it. Nothing new!

no..it is not. We have argued this over, long time back. I don't intend to revisit.
I believe, consolidation at the end of a natural flow of free- entrepreneurial energy, is a logical situation.
 the franchisee model seems like kinder-garten staff.........good only for beginners.
« Last Edit: December 18, 2008, 05:54:32 AM by Blwe_torch »
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keep-it-cool

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Re: Stanford pulls out ...who next?
« Reply #10 on: December 18, 2008, 06:30:12 AM »

consolidation at the end of a natural flow of free- entrepreneurial energy, is a logical situation.

 :icon_scratch: :icon_scratch: :icon_scratch:

Were you behind some of those complex CDS structures as well?
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keep-it-cool

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Re: Stanford pulls out ...who next?
« Reply #11 on: December 18, 2008, 07:05:18 AM »

Will the Indian legends also face a similar fate at some point?? Cost cutting is the order of the day!

Stanford legends given the chop

http://content-eap.cricinfo.com/westindies/content/current/story/382736.html

Reports that the Stanford Legends group has been disbanded have been confirmed by a press release from the organisation, fuelling increasing concerns that Allen Stanford is poised to withdraw completely from his multi-million dollar investment in cricket.

On Wednesday morning rumours started circulating that Stanford had dismissed the dozen legends who had been on retainers to promote his brand. They were reportedly on as much as US$10,000 a month.

"The Stanford 20/20 Board was dissolved on Monday December 15th pending the review and Sir Allen Stanford personally thanked each of the legends of West Indies cricket for their involvement, guidance and counsel over the past three years," read a statement. "The Board has been integral to Stanford 20/20's commitment to the development of West Indies cricket and the board members continue to play an important role in the review process.

Stanford himself thanked the legends for their contribution. "Stanford 20/20 and the efforts of its board have reinvigorated widespread interest in the game throughout the Caribbean and have enhanced the image of West Indies cricket globally," he said. "The board has been instrumental in developing a whole new fan base in the region."

Asked if Stanford's decision had anything to do with the adverse publicity both he and his tournament attracted in the British media, Julie Hodge, a Stanford spokesman, said: "I don't think he was insulted, but it is disheartening, especially when you are putting so much money into the sport."

The legends were Sir Viv Richards, Sir Garry Sobers, Sir Everton Weekes, Curtly Ambrose, Joel Garner, Lance Gibbs, Gordon Greenidge, Wes Hall, Desmond Haynes, Richie Richardson, Andy Roberts and Courtney Walsh. Michael Holding was originally in the group but he quit after criticising the amount of money made available to grass-roots cricket in the Caribbean.
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Sachin Tendulkar gave the muhurat clap for 'Awwal Number' - that apart, he hasn't done much wrong in the last 20 yrs!
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