MUMBAI: It?s the Indian money that will bankroll the Sri Lanka Premier League as all the seven franchises have been bought by Indian business enterprises despite the fact that Indian players won?t be part of the league, the very reason why the tournament was postponed last year.

Leading the flock is Wadhawan Holdings which bought Wayamba for $5.02 million, thereby making it the costliest franchise. Number One Sports Consulting bid $4.98 million to bag the Kandurata franchise.

The Uva and Ruhuna franchises went to Success Sports and Pearl Overseas respectively for $4.6 million each.

Indian Cricket Dundee bought the Basnahira franchise for $4.33 million, while Uthura was snapped up by Rudra Sports for $3.4 million.

Pepsi Sri Lanka?s bottler, Varun Beverages Lanka, bid $3.22 million for owning the Nagenahira franchise. The Sri Lankan subsidiary is part of India-based Varun Beverages group.

The seven franchises have collectively committed $30 million for a period of seven years.

The first edition of the SLPL will be held from 10-31 August. The seven teams will play a total of 24 matches at R Premadasa Stadium in Colombo and the Pallekele International Cricket Stadium.

The players will be selected through draft process on 5 and 6 July. They will be divided into two groups with the first group comprising players from Sri Lanka while the second group will include foreign players.

The SLPL Franchise owners:

• Wayamba ? Wadhawan Holdings Private Limited ($5.02 million)
• Kandurata - Number One Sports Consulting Private Limited ($4.98 million)
• Ruhuna - Pearl Overseas Limited ($4.6 million)
• Uva Success Sports Private Limited ($4.6 million)
• Basnahira -Indian Cricket Dundee Limited ($4.33 million)
• Uthura - Rudra Sports Private Limited ($3.4 million)
• Nagenahira - Varun Beverages Lanka Private Limited ($3.22 million

MUMBAI: The International Cricket Council has amended its management structure which would see the creation of a new post of chairman and water down the powers of president besides scrapping the post of vice-president altogether effective 2014.

Until the end of the 2014 ICC Annual Conference, the role of the ICC President will remain in its current form but from the end of the 2014 Annual Conference it will become ceremonial in nature with a term of only one year.

The term of office of the chairman will be two years. The ICC Board will appoint the chairman at its first meeting following the 2014 Annual Conference.

Meanwhile, Alan Isaac, the former chairman of New Zealand Cricket, was inaugurated as the eighth President of the ICC in succession to Sharad Pawar. Isaac will serve for a two-year term.

David Richardson was confirmed by the Conference as successor to Haroon Lorgat, who stood down after four years, as the ICC Chief Executive. Richardson, who played 42 Tests for South Africa, has been ICC?s GM- Cricket for the last 10 years.

Additionally, Russia and Hungary were confirmed as new affiliate members of the ICC but Switzerland was removed as an affiliate member, having been suspended at the 2011 Annual Conference for failing to comply with the ICC?s membership criteria and remaining unable to do so by the 2012 Annual Conference.

There are now 106 Members of the ICC.

MUMBAI: The 2012-13 season of World Series Boxing will have 14 teams with the addition of the Ukrainian franchise for the pro-Boxing league.

The franchise rights have been taken by Ukrainian Boxing Federation.

Recently, the International Boxing Association had signed a franchise agreement with Argentinean Boxing Federation which took the total number of teams to 13.

"Ukraine is one of the World‘s true boxing powerhouses and we are absolutely thrilled to welcome their Franchise to the World Series of Boxing," Aiba president and WSB chairman Dr Ching-Kuo Wu said.

Ukrainian Minister of Sports Ravil Safiullin said, "With the Euro, we showed the World that Ukraine is more than capable of hosting big sporting events. Our country needs to carry in this way and we very much look forward to welcoming APB and AIBA competitions here soon."

The Indian franchise in WSB is represented by Mumbai Fighters, which is owned and managed by Mumbai-