ICC sponsors agree to renegotiate terms

KOLKATA: Under pressure from various quarters, two of ICC’s global partners, Pepsi and LG, have agreed to renegotiate their terms with the Global Cricket Corporation (GCC) to ensure that the best Indian team plays in the World Cup in southern Africa next month.
Both multinational companies with huge stakes in the sub-continent, have agreed to "compromise" on a number of their privileges after a series of discussions with representatives of GCC (marketing agents of ICC) in the Capital over the last couple of days, even though the controversy looks far from over.
According to sources, LG are keen on protecting its ambush marketing rights for the 30 days prior to the event while it is willing to compromise on the image rights. The cola giants insist that arrangement be the other way round.
"Discussions between them and World Sport Nimbus, the Indian arm of GCC, are almost in the final stages with both sponsors now agreeable to a settlement in lieu of a reduction in the guarantee money they were supposed to pay for both the World Cup and last year’s Champions Trophy. The third major Indian sponsor, Hero Honda, are not part of the negotiations as they do not enjoy the rights of a global partner," well-placed sources told the TNN on Thursday.
However, fresh negotiations between the sponsors and GCC is unlikely to end the row as the ICC is certain to ask the BCCI for indemnity of a substantial sum should it be forced to accept a cut from the promised $550 million.
With the board members of the ICC Development International (IDI) Limited in no mood to accept any reduction, it will be almost an action replay of the Champions Trophy imbroglio when the Indian board refused to pay any compensation.
Under the circumstances, the row is almost sure to be lodged with the Court of Arbitration of Sport (CAS) in Lausanne, where eminent lawyers Kapil Sibal and U.N. Banerjee will be arguing the BCCI’s (read the Indian players) case. BCCI seems to be on a firm footing as players’ pre-existing contracts are under siege.
Meanwhile, the sponsors are rather upset at the BCCI president Jagmohan Dalmiya’s comments of them being anti-national. The general manager (marketing) of LG, Ganesh Mahalingam said: "Patriotism is not the monopoly of anybody. Much as the BCCI chief, we also want the best Indian team goes to South Africa and pull out on all stops to ensure that."