Monetization will be delayed for Global Cricket Ventures: the JV between NASDAQ listed Live Current Media and Net Link Blue holdings has been hit by a rather unfortunate development – the inaugural Champions League T20 2008 has been cancelled, and inaugural tournament will now be played in October 2009. The tournament, which was scheduled to be begin on December 3rd, was indefinitely postponed following the terrorist attacks on Mumbai on the 26th of November 2008.
Do bear in mind that Global Cricket Ventures had not paid any Minimum Guarantee (MG) to the BCCI or the IPL for the tournament, and the revenue was to be split evenly between GCV and The Champions League. Still, the cancellation of this years event does mean a significant loss of opportunity for GCV…the next opportunity for revenues from the IPL will be during its second season, which is tentatively scheduled to be held from April 10 to May 29, 2009.
Live Current Media was also expected to receive a tranch of investment by around the first week of December; there’s no update from the company on that yet.
Note: Live Current Media President Jonathan Ehrlich and Chief Revenue Officer Alex Chamberlain were among the survivors from the terrorist attack on the Taj in Mumbai. Read about Ehrlichs escape here or watch the video here. An interview with Chamberlain here.