Mumbai Cricket Association plans 500 crore corpus for grassroots development

The Mumbai Cricket Association announced plans to establish a 500 crore corpus fund to support grassroots cricket across schools, colleges, and maidan clubs. The decision was formalized during the association's 87th annual general meeting held Friday at Wankhede Stadium. President Ajinkya Naik stated that the funds will be maintained as an endowment, with annual interest generated from the fixed deposit being distributed for local development. The association intends to increase the allocation by 40 crore annually over the next decade to reach the final 500 crore target. Previously, the association had allocated 100 crore toward this initiative during the prior annual general meeting. Additionally, the governing body approved the naming of select lounges at the Wankhede Stadium to honor Madhav Mantri, Sachin Tendulkar, and Ajinkya Rahane.

• 8:36 AMYahoo Sports — Mumbai Cricket Association to raise Rs 500 crore corpus for grassroots cricket