Big blow for Mumbai T20 League as team owner withdraws
Big blow for Mumbai T20 League as team owner withdraws
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Nearly less than two weeks to go for its kick-off, the inaugural T20 Mumbai league has already hit a glitch with one of the team owners withdrawing on Monday. Naman Developers, a spectacular real-estate company in the city, had bought the Mumbai North team for Rs 6.5 crore. But only to opt out within a week, forfeiting their contract.

The player auctions, meanwhile, are scheduled to be held on Wednesday. They had been one of the nine bidders vying for the six teams on offer in the league. And the Mumbai Cricket Association (MCA) are clutching at straws to find a new owner with the tournament set to begin on March 10. Meanwhile, another successful bidder is yet to submit the necessary bank guarantee even though they’ve informed the MCA that they’ll do so by Tuesday.

MCA has given IIFL Group and Wizcraft the licence to run the league for five years and the company had roped in legend Sachin Tendulkar as the brand ambassador. The reason behind the pull-out, according to sources, is that Naman Developers had calculated the approximate losses to be higher than what they’d been told before buying the team. Meanwhile, former India players Vinod Kambli and Balwinder Singh Sandhu are the few names who have applied for the coach’s role for T20 Mumbai League.

 

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