Rendezvous Sports World
Encyclopedia
Rendezvous Sports World is a new cricket
franchise in the Indian Premier League
which has 10% of equity on Kochi IPL Team
. Rendezvous Sports World Limited is a consortium made up of multiple companies. It had made the winning bid of USD 333 million in a global invitation to tender process called by the IPL for two new franchises from IPL season 2011.
In April 2010, it threatened to sue IPL commissioner Lalit Modi
for breaking confidentiality terms by disclosing details of the stakeholders in the new Kochi IPL team on the micro-blogging website Twitter
.
As per details revealed by IPL commissioner Lalit Modi
, following is the share holding pattern of Kochi Franchise.
Modi further revealed that of the Rendezvous 25% free, 18 percent share (4.5% of total equity worth Rs. 70 Crores) is held as sweat equity
by Sunanda Pushkar, who was then a female friend and later wife of Congress Politician Shashi Tharoor
. Later amidst demands for Tharoor's resignation from the Union Cabinet by the opposition parties for alleged corruption, Sunanda Pushkar "voluntarily" gave up the sweat equity.
Cricket
Cricket is a bat-and-ball game played between two teams of 11 players on an oval-shaped field, at the centre of which is a rectangular 22-yard long pitch. One team bats, trying to score as many runs as possible while the other team bowls and fields, trying to dismiss the batsmen and thus limit the...
franchise in the Indian Premier League
Indian Premier League
The Indian Premier League is a professional league for Twenty20 cricket competition in India. It was initiated by the Board of Control for Cricket in India , headquartered in Mumbai, and is supervised by BCCI Vice President Rajeev Shukla, who serves as the league's Chairman and Commissioner...
which has 10% of equity on Kochi IPL Team
Kochi IPL Team
Kochi Tuskers Kerala was a franchise cricket team that played in the Indian Premier League representing the city of Kochi, Kerala. The team was one of two new franchisees added to the Indian Premier League for the 2011 season, alongside the Pune Warriors India. The team franchise was owned by...
. Rendezvous Sports World Limited is a consortium made up of multiple companies. It had made the winning bid of USD 333 million in a global invitation to tender process called by the IPL for two new franchises from IPL season 2011.
In April 2010, it threatened to sue IPL commissioner Lalit Modi
Lalit Modi
Lalit Kumar Modi, is the former architect of the Indian Premier League.Best known for his stint as the Chairman and Commissioner of the Indian Premier League and the Chairman of the Champions League, between 2008 and 2010, he has also occupied the roles of Vice President of the Board of Control...
for breaking confidentiality terms by disclosing details of the stakeholders in the new Kochi IPL team on the micro-blogging website Twitter
Twitter
Twitter is an online social networking and microblogging service that enables its users to send and read text-based posts of up to 140 characters, informally known as "tweets".Twitter was created in March 2006 by Jack Dorsey and launched that July...
.
As per details revealed by IPL commissioner Lalit Modi
Lalit Modi
Lalit Kumar Modi, is the former architect of the Indian Premier League.Best known for his stint as the Chairman and Commissioner of the Indian Premier League and the Chairman of the Champions League, between 2008 and 2010, he has also occupied the roles of Vice President of the Board of Control...
, following is the share holding pattern of Kochi Franchise.
- Rendezvous 25% free Equity
- Rendezvous World Sports 1%
- Anchor Earth Movers Pvt. Ltd. 27%
- Parinee Developers Pvt. Ltd. 26%
- Film waves combine 12%
- Anand Shyam Pvt. Ltd. 8%
- Vivek venugopal 1%
Modi further revealed that of the Rendezvous 25% free, 18 percent share (4.5% of total equity worth Rs. 70 Crores) is held as sweat equity
Sweat equity
Sweat equity is a term that refers to a party's contribution to a project in the form of effort --- as opposed to financial equity, which is a contribution in the form of capital....
by Sunanda Pushkar, who was then a female friend and later wife of Congress Politician Shashi Tharoor
Shashi Tharoor
Shashi Tharoor is an Indian politician and a Member of Parliament from the Thiruvananthapuram constituency in Kerala...
. Later amidst demands for Tharoor's resignation from the Union Cabinet by the opposition parties for alleged corruption, Sunanda Pushkar "voluntarily" gave up the sweat equity.