Dhoni , The player manager

[Detonator]

Lol, this news finally made it to cricinfo http://www.espncricinfo.com/india/content/story/638875.html

There has been, however, no documentation so far to support the buying back of shares from Dhoni. Information made available by Rhiti Sports to ESPNcricinfo indicated that the transfer of shares was only a means to "safeguard" Dhoni's money, and the transaction was a part of "routine accounting" that was done on a "day-to-day basis".

[bulbul]

Dhoni paid Rs 3 lakh to acquire 30,000 shares at par value in March 2013, amounting to a 15% equity holding, Rhiti said. But the shareholding was transferred back to the promoters when payments were cleared in April 2013, said the statement from Arun Pandey, the chairman and managing director of Rhiti. Rhiti did not explain the nature of the transaction for which Rs 3 lakh was due from a company that reported a turnover of Rs 63 crore in fiscal 2012. It also did not explain who paid the money to Dhoni and at what price the shares were transferred. "This is not a share buyback in which the company uses its money but a promoter has bought back the shares," says an accounting expert who did not want to be named

. http://economictimes.indiatimes.com/news/politics-and-nation/ms-dhoni-paid-rs-3-lakh-to-acquire-30000-shares-amounting-to-15-equity-holding-rhiti/articleshow/20418182.cms

[Detonator]

Dhoni made a witty remark: "They are clapping for their share." :giggle:

[bulbul]

NEW DELHI: Jagmohan Dalmiya, the new interim boss of BCCI, has promised to probe the apparent conflict between Mahendra Singh Dhoni's business interests and his role as the captain of the Indian cricket team. "As far as this (Dhoni's conflict of interest) is concerned, I have been told just now. I was not aware of it. I assure you that BCCI will look into it," Dalmiya told ET when asked about a story in the paper's Monday edition that reported Dhoni's extensive connection with a sports management firm that also manages four other India players. At a press conference in the evening in Kolkata, Dalmiya said: "You have to wait. BCCI will discuss the issue in its next meeting."

http://economictimes.indiatimes.com/articleshow/20417875.cms

[yoda]

Bulbul fighting for justice across multiple fronts --> Dhoni, Don, MAyappan :two_thumbs_up:

[velu]

Bulbul fighting for justice across multiple fronts --> Dhoni' date=' Don, MAyappan :two_thumbs_up:[/quote'] will bulbul get any justice :hmmm: :cantstop:

[The Outsider]

Marketing is inclusive to Management but that doesnt mean Marketing and Human/Player Management are one and the same as you seems to allude. Read it in context.

Where have I alluded they are one and the same? You are inferring that they are exclusive by jumping up and down saying it's a marketing company and has nothing to do with management. I quote for your perusal:

The ARTICLE this started it all clearly states its a Marketing firm and not Management firm.....

btw i didnt mention that it was a Marketing company, it was the article you quoted that stated it. I just concur with that fact mentioned in the article.

[The Outsider]

BTW, the par value of the company is just Rs. 20 lakh given Dhoni acquired a 15% stake by paying Rs. 3 lakh.

[bulbul]

NEW DELHI: Rhiti Sports Management and its main promoter, Arun Pandey, might deny that Indian cricket captain Mahendra Singh Dhoni holds any share in the company, but what they cannot deny is that Pandey and Dhoni have been and continue to be business partners, spelling a high probability of conflict of interest for the Indian captain. TOI accessed documents filed by at least two other firms with the ministry of corporate affairs which show that Dhoni and his family held shares in firms where the only other partners were Pandey and Rhiti Sports. Given this, Dhoni's financial interests coincide with those of Pandey and hence there is a conflict of interest between Rhiti Sports managing Team India players ( Ravindra Jadeja, Suresh Raina and Pragyan Ojha) and Dhoni having a role in their selection irrespective of whether or not Dhoni has any direct share in Rhiti Sports. A detailed questionnaire sent to Arun Pandey early on Tuesday went unanswered. One of these firms, Rhiti MSD Alamode Pvt Ltd, was floated under a resolution passed by the Rhiti Sports board on March 22, 2012. The company, incorporated on April 3, 2012 had a total of 10,000 shares of which Dhoni held 6,400 and his wife Sakshi held 100. Another 3,000 shares were held by Arun Pandey and 500 by Rhiti Sports through Pandey. Thus, 65% of the shares were held by Dhoni and his wife and 35% by Pandey and Rhiti Sports. The three directors of this company were Sakshi, Pratima Tiwari (Pandey's sister) and Subhawati Pandey, Arun Pandey's mother who is also a director in Rhiti Sports. The registered office of Rhiti MSD Alamode is identical to that of Rhiti Sports, namely, Flat No. 7514, Sector-D, Pocket-7, Ground Floor, Vasant Kunj, New Delhi. The power of attorney to do the necessary paperwork for the company's incorporation was given to one Mohd. Nazim Khan, who was also the company secretary of Rhiti Sports when that company was incorporated in 2007. Less than a year after it was incorporated, Rhiti MSD Alamode in its board meeting of March 15, 2013, resolved to give consent for forming a new joint venture named Sportsfit World Overseas Pvt Ltd. This was also barely a week before Rhiti Sports allotted 30,000 shares to Dhoni, an allotment that the company claims was only temporary.

http://timesofindia.indiatimes.com/sports/cricket/fixing-hits-ipl-6/news/MS-Dhoni-Arun-Pandey-links-go-beyond-Rhiti-Sports/articleshow/20433801.cms

[saneindian]

lol TOI has woken up a little too late. These details have been on ICF for a long time now.

[Por Favor]

Where have I alluded they are one and the same? You are inferring that they are exclusive by jumping up and down saying it's a marketing company and has nothing to do with management. I quote for your perusal:

I'm not responsible if you read a statement out of context.... All I'm saying is Marketing is as different from Player Management as chalk is from cheese. If you keep harping on the inclusiveness of Marketing in Management which I'm not contesting. Then Gob bless!! The question I was contesting is whether Rhiti a Sport Marketing firm or Player Management Firm? As I have clearly explained before Rhiti's business involves 'MEDIA', 'ENTERTAINMENT', 'FITNESS' and 'MAHI RACING'. I dont think any of these business mentioned above have anything to do with Player Management rather they allude to the fact they are a Sports Marketing firm as quoted in the TITLE of the article.

[bulbul]

Now that Dhoni is made aware of the implications, lets give him time to disengage himself from the conflicting interest.

WV Raman in twitter :hysterical: :hysterical:

[someone]

The question should be why now? Reading ICF, this crazy "conspiracy" theory has been around for several years. What's the sense about the timing and how irresponsible are our media groups in educating on that? Given, how there is proven evidence of media groups in conflict of interest/ownership?

[yoda]

Media is hounding him cause he gave them a ungli in the press conference.

[CSK Fan]

The question should be why now? Reading ICF, this crazy "conspiracy" theory has been around for several years. What's the sense about the timing and how irresponsible are our media groups in educating on that? Given, how there is proven evidence of media groups in conflict of interest/ownership?

Media is hounding him cause he gave them a ungli in the press conference.

What difference does that make if its a valid point and its affecting Indian cricket? He is giving a middle finger to indian cricket anyways

[CSK Fan]

How did Rhiti get Rs 210 crore to 'pay' skipper Dhoni? http://timesofindia.indiatimes.com/sports/cricket/fixing-hits-ipl-6/news/How-did-Rhiti-get-Rs-210-crore-to-pay-skipper-Dhoni/articleshow/20450569.cms?

NEW DELHI: In 2010 when Rhiti Sports Management announced the eye-popping deal of Rs 210 crore minimum payment to Mahendra Singh Dhoni over the next three years it shattered most records of celebrity endorsements in India and placed the Indian cricket icon among the world's richest Sports personalities. In an interview to a business magazine earlier this year, Rhiti's promoter Arun Pandey said the minimum guarantee of Rs 210 crore had already been paid to the cricketer. However, financial statements of Rhiti group's companies raise questions on how the cricket captain was paid, if he was paid that much at all. If the company has paid Rs 210 crore to Dhoni from its funds, it would mean Rhiti is not operating on a commission basis, at least with Dhoni. In that case, it could well be that Rhiti has paid him in advance and is collecting endorsement fees and other royalties from deals signed with brands that sign on Dhoni. Rhiti's balance sheet, however, throws up questions about that. In 2010-11, when the deal was signed, Rhiti had a total income of only Rs 39.72 crore. The year before that, 2009-10, its income was just Rs 6.77 crore. By 2011-12 the company had registered a total income of Rs 63.54 crore. Thus, in the three years since the deal was signed Rhiti's total income (not profits) is just about Rs 110 crore. So if Dhoni had been paid Rs 210 crore, it was clearly not from Rhiti's funds, as neither Rhiti Sports Management nor any of its group companies has shown money transactions of such a magnitude. Nor do they have group revenue anywhere near Rs 210 crore.

So a firm making an income (not profit) of 110 crores over 3 years has paid Dhono 210 crores making him one of the richest sportperson in the world? How? Dhoni-Rhiti deal, a curse for fringe players http://articles.timesofindia.indiatimes.com/2013-06-04/news/39741274_1_rhiti-sports-mahendra-singh-dhoni-indian-cricket

More than that, the preferential treatment that Raina and Jadeja have enjoyed under his dispensation at Chennai Super Kings has always seemed strange. Jadeja, in fact, was acquired for an incredible annual fee of $2 million. One can imagine the killing Rhiti made when the deal was stuck. TOI spoke to a cross-section of players and BCCI officials and almost all of them conceded that the skipper of the Indian team holding shares in an agency that manages players in his team itself was not an ideal situation. "It should not be allowed because the captain does influence the selection of as team; in fact, overseas, he and the coach have the sole authority on team selection. Now, I can only think of all the instances that looked like 'wrong' selections in recent times," former Board secretary Jayawant Lele said. "It is better that the BCCI deals with the issue quickly before it gets any bigger," said former India off-spinner Erapalli Prasanna. Dhoni has shown a preference for certain players in the team, and this revelation has only added fuel to the fire, with many connecting the dots. According to his critics, many talented players have been dumped during his reign without a fair opportunity. Dig deeper into first class cricket and you can cull out those names: batsmen Manoj Tiwary, Saurabh Tiwary, all-rounder Abhishek Nayar, seamer Dhawal Kulkarni, leg-spinner Amit Mishra, wicketkeeper Parthiv Patel, to start with. "With him, it's a question of like and dislike. If you are disliked by him, good luck to you! You can keep performing in domestic cricket, it doesn't matter" said a player.

[bulbul]

M2C , Don't ask tough questions.

[saneindian]

According to his critics, many talented players have been dumped during his reign without a fair opportunity. Dig deeper into first class cricket and you can cull out those names batsmen Manoj Tiwary, Saurabh Tiwary, all-rounder Abhishek Nayar, seamer Dhawal Kulkarni, leg-spinner Amit Mishra, wicketkeeper Parthiv Patel, to start with.

Can understand the point of conflict of interest but this list of players who have apparently been sidelined is :hysterical:

[yoda]

What difference does that make if its a valid point and its affecting Indian cricket? He is giving a middle finger to indian cricket anyways

I am not sure it is affecting Indian cricket unless we know for sure that selections were biased in favor of Rhiti clients. Speculations don't count.

[CG]

I am not sure it is affecting Indian cricket unless we know for sure that selections were biased in favor of Rhiti clients. Speculations don't count.

U can never prove such things.But selection of bhajji after he was doing so poorly and R.p Singh from holiday in england is surely suspicious.