Chandra does a Packer with India Cricket League

Sets up body with Rs 100 crore corpus to rival BCCI.

In a daring move reminiscent of Australian media giant Kerry Packer, the Subhash Chandra-promoted Essel Group today announced the launch of India Cricket League (ICL), a body parallel to the Board for Control of Cricket in India (BCCI), to promote cricketing talent in the country.

The Essel Group had lost out on the rights for all cricket matches, one-dayers as well as Tests, organised by BCCI in India up to 2011. Today’s move will help it develop cricketing content for its fledgling sports channel, Zee Sports.

The venture will initially have a corpus of Rs 100 crore and will have six teams, each comprising four international cricketers, two Indian cricketers and eight young talents. The number of teams will grow to 16 within three years. ICL will also set up nation-wide residential cricket academies that will nurture young talent. Read more at Business Standard