Monday, October 14, 2019
News

Kerala sets up SPV for Champion's Boat League

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Thiruvananthapuram | Thursday, 2019 5:15:05 AM IST
As part of showcasing Kerala's famed snake-boat race in the backwaters in six districts across the state, the Kerala government has decided to form a Special Purpose Vehicle (SPV) to conduct the IPL-model Champions' Boat League (CBL) as an annual event in August-November, state Tourism Minister Kadakampally Surendran said on Wednesday.

Surendran, along with various stake-holders, met Finance Minister Thomas Isaac to finalise the setting up of the SPV.

The inaugural edition of the Champions' Boat League (CBL) will get under way with the Nehru Trophy Boat Race on August 10 at Punnamada Lake in Alappuzha.

The competitions in the CBL will start a week later at Pulinkunnu (August 17). In subsequent Saturdays, races will be conducted at Thazhathangadi (August 24), Piravam (August 31), Marine Drive (September 7), Kottappuram (September 14), Ponnani (September 21), Kainakari (September 28), Karuvatta (October 5), Kayamkulam (October 12) and Kallada (October 19), before concluding in a grand finale at the President's Trophy Boat Race at Kollam on November 1.

At the meeting attended by representatives of boat owners, boat clubs and rowers' associations, Surendran said that the SPV company is primarily intended to generate revenue through telecast rights, advertisements and sponsorships for conducting the premier event, besides deciding on revenue-sharing among the stake-holders.

"This event is going to open a glorious chapter in the long history of boat races in Kerala as it will not only showcase this unique tradition to the whole world but also bring benefit to the entire spectrum of stake-holders," he said.

The CBL winner will get a cash prize of Rs 25 lakh, while those finishing second and third will get Rs 15 lakh and Rs 10 lakh, respectively.

The Minister also said the CBL has been conceived and planned as a world class tourism product which will firm up Kerala on the international map, luring visitors during the monsoon season.

Isaac said the event has been structured in a commercial-friendly manner so as to bring advantage to the stake-holders who have kept up the tradition over a long period.

"I am sure that in coming years, the CBL will grab a prime spot in international sporting calendar and TV channels will vie for telecasting it live," he said.

--IANS sg/vd

( 382 Words)

2019-06-26-23:12:04 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
French energy major Total to buy 37.4 pc...
September wholesale inflation falls to a...
Faizan Kareem represents India on Climat...
HAL braces for staff strike over wage re...
Vande Bharat Express delayed at Allahaba...
Maruti Suzuki collaborates with five sta...
More...
 
INDIA WORLD ASIA
UP: Two held for kidnapping, beating stu...
Wearing BJP T-shirt, Maharashtra farmer ...
MP political circles abuzz after Scindia...
TMC, BJP trade fire over Jiaganj murders...
Mau : 7 died, 15 injured in house collap...
Haryana elections: Prime Minister Modi t...
More...    
 
 Top Stories
Ex-LTTE cadre arrested with firearm... 
China's exports declined further in... 
Typhoon Hagibis: Rescue efforts und... 
FIFA WC qualifiers: India aim for 1... 
Rahul a failed leader, needs to be ... 
HAL workers launch countrywide inde... 
Delhi air quality remains 'poor' fo... 
Man who committed suicide in Buldha...