Image by SJ Jagadeesh via Flickr Live Current Media, the domain name company that owns the Cricket.com and IPLT20.com is in a financial mess as the global financial meltdown has it scrambling around for cash.
Observers had noted that the $ 50 million it paid to obtain the exclusive online rights to IPL (Indian Premier League) in itself was way over its head.
Now, Live Current is being forced to sell up to six of its premium domain names, including Communicate.com, Brazil.com, Vietnam.com, Indonesia.com, Malaysia.com, Canadian.com and GreatBritain.com, hoping to fetch a combined total of $6 million to $10 million. It could turn into a fire sale or worse, deadpool tag for the company, unless they can convince some outside investors that they're able to turn the ship around.
Live Current Media’s distress brings out some important issues.
- Has IPL realized its money?
- What happens to the IPLT20.com domain name?
- Importantly, are Modi’s big deals financially sound?
Cricket News Online Live.com
13 comments:
The IPL franchises have made money from what i've heard and the BCCI surely has.. as for the Modi's financial dealings - well from as it seems everyone's financial dealings over the last couple of years were not sound hence the collapse of the global economy!
Q,
I was implying that the big deals were only big deals in words and not in deeds. :)
From Barbie Dolls to Barbed Dolls, you sure have them Ott.
NC,
No accounting for tastes.:)
Am not least surprised.I saw it coming.
U will have some more of it when the transfer of players take place.
That's one fence I want to jump across now.
I think many of those numbers are highly inflated.
Nice write=up Ottayan, the info is worth reading.
IPL must have made money, no doubts about that; but how much is still a matter of speculation. BCCI earns money but is least transparent. SO unless one has detailed numbers, saying anything is not easy.
Regarding the domain names, it looks unlikely that the ailing company will get 6 million dollars by selling them; IPL has only rolled out the first version of the tournament. It's to be seen whether the concept can sustain itself for years to come. Even if iplt20 shows live cricket, it's unlikely that it can rake some satisfactory valuation. Cricket in India is still with Television.
Modi's deals look fine, as he did his part well- tried to bring in as much money as possible. It's the business acumen of individuals who bought teams, rights from Mr Modi, which is deciding their respective fates.
Yes R, you have always been a skeptic.
Let us hope the other deals are sound or the whole concept will collapse and we will be laughed at by the ECB.
You are right Bisht this could be one aberration.
well it all depends upon this year. This year ipl is important - and by the way it sounds it will be a mega event, so all involved will earn handsomly
Welcome b, I believe the problem for Live Current media is because they extended themselves financially.
Post a Comment