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The Sahara Group will continue as sponsors of the Indian team after they won the contract by bidding Rs. 3.34 crores ($719,000) per match, a marketing committee official has told Cricinfo. The current sponsorship contract ends on June 30 and the new one runs until December 31, 2013. A top Sahara official also confirmed the development. Bharti Airtel, the only other company in the fray, put in a bid for Rs 2.89 crore ($628, 260) per match.

"We take pride in sponsoring the Indian national team," Abhijit Sarkar, corporate affairs head at Sahara, said.

Sahara's winning bid comes as something of a surprise as chairman Subrata Roy had said the company would re-evaluate its sponsorship of the Indian team after it bagged the Pune IPL franchise. According to market sources, Sahara decided to bid again because an analysis of the numbers turned out positive. It paid Rs 407 crores ($88 million) over the last four years, so the new deal requires roughly Rs 85 crores ($18.5 million) more, which doesn't hurt the group much.

Sahara waited until the last minute before entering the bidding because it was worried about the response from its competitors. It feared the price of the deal could rise over Rs 500 crores if its interest was publicly known. The deal is solely to sponsor the Indian men's team, as the group was not interested in spending an extra Rs 10-15 crore on the other three squads (women's, India A and Under-19).

The BCCI is not bothered by the failure to attract a sponsor for the three other teams, and will not attempt to find one, a board official who is a member of the marketing committee, told Cricinfo. As it stands, these teams don't play a lot of matches anyway, and when they do, the matches aren't always televised. Occasionally, the matches even clash with those of the Indian team, robbing them of any value, the official said.

The board had set a base price of Rs 2.5 crores ($ 541,000) per match for the three-and-a-half-year period, during which India will play between 144 and 167 matches, depending on how far the team progresses in ICC tournaments. At Rs 3.34 crores a match, the Sahara deal is worth between Rs 481 crores ($104 million) and Rs 558 crores ($121 million). A member of the BCCI marketing committee told Cricinfo that the board is very happy with the new deal, as it represents a 50% increase per match over the previous deal (in actuality, the increase is much higher).

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Jun. 26, 2018, 4:28 AM
Shareholders with nearly $3 billion invested Facebook are trying to topple Mark Zuckerberg as chairman and tear up the company's governance structure. Business Insider has spoken with six prominent shareholders who said there was an unprecedented level of unrest among Facebook's backers following a series of scandals. They are in open revolt about Zuckerberg's power base, which gives him the ability to swat away any shareholder proposal he disagrees with. One investor compared him to a robber baron, a derogatory term for 19th-century US tycoons who accumulated enormous wealth. Facebook says its governance structure is "sound and effective" and splitting Zuckerberg's duties as chairman and CEO would cause "uncertainty, confusion, and inefficiency."

Facebook investors boasting nearly $3 billion (£2.3 billion) in shares are making moves to topple Mark Zuckerberg as chairman and tear apart his power base at the company.

Business Insider has spoken with six prominent shareholders who are growing increasingly restless about the way Facebook is run and ever more vociferous in their demands for change.

All agreed that anger among investors had never been more pronounced since Facebook went public in 2012. They have watched in frustration as the firm has slogged through a series of scandals, from election interference to the Cambridge Analytica data disaster.

The rebel investors blame these crises in part on the way the company is run and say the issues have not been properly addressed because Facebook's corporate governance structure means Zuckerberg is basically untouchable as both CEO and chairman.

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"We have concerns about the structure of the board that the company doesn't seem ready to address, which can lead to risks — reputational, regulatory, and otherwise," said New York City's comptroller, Scott Stringer, who oversees about $895 million worth of Facebook shares through city pension funds.

Stringer is an independently elected official, who acts as New York's financial watchdog and has been Best Prices For Sale Outlet Cost Dsquared² TStrap Platform Sandals Outlet High Quality Perfect Online rsjelasgO
The Democrat was critical of the Cambridge Analytica scandal and has a vested interest, both professionally and politically, in sticking up for the rights of city pension holders who have money in Facebook — and burnishing his own name for future elections.

Investors are openly campaigning for radical change on many fronts, but there is a consensus around two particular issues, both of which came up consistently in interviews with Business Insider:

A majority of independent shareholders voted in favor of proposals to achieve these aims at Facebook's past two investor meetings. Anger boiled over at this year's meeting, in which Zuckerberg was accused of running the company like a "dictatorship" and a shareholder was thrown out of the event for venting her displeasure .

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