CA gets $50m loan as cover for India Tests

MELBOURNE: Cricket Australia has secured a loan of $50 million, an upfront payment as part of a larger $200 million credit, which it has sought to cover the losses if India fail to tour the country later this year. According to ‘The Sydney Morning Herald’, CA has been informed that the loan with the Commonwealth Bank is a “done deal”. However, it raised fresh questions about CA’s decision to stand down 80% of its staff last month due to financial crisis.