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BW Businessworld

The Cup Overflows

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It seems we cannot have enough of cricket. Just last week, the World Cup ended with euphoria and a sense of great accomplishment. In cricket, as one wag said, India is the superpower. On 8 April, the Indian Premier League (IPL) kicked off its fourth edition, another eight weeks of entertainment, money and lots of glamour. Of course, there will be cricket, too.
When India won the World Cup, accolades and reward came pouring in on cricketers. One rough estimate puts the cumulative value of all the rewards at roughly Rs 100 crore, a nice, tidy sum for the 15 men in blue. Of course, it does not matter that most of them are already well-paid sportsmen: to an adoring nation, they are superheroes.
Not to be outdone by the World Cup or the IPL, Mumbai will host the Capital Markets Cup on 9 April, a cricket match between a bunch of investment bankers (Morgan Stanley, ICICI Securities, JP Morgan and UBS, to mention a few) from the country's financial capital and a bunch of lawyers from some of the country's leading law firms (Amarchand Mangaldas, Luthra & Luthra, Dorsey & Whitney and Crawford Bayley, among others).
This match will raise money for charity, about Rs 3 lakh. Dorsey & Whitney will pay Rs 3,500 per wicket taken, and Rs 7,000 per six. And like every good law firm will do, Crawford and Bailey will match their professional rival's offer. This time, the Red Cross and other charities, not the investment bankers, will take home the money.

(This story was published in Businessworld Issue Dated 18-04-2011)