After football, Tendulkar to own franchise in tennis league

April 15, 2014

Tendulkar_footbal
Mumbai, Apr 15: Sachin Tendulkar is said to be the owner of the Mumbai franchise in the forthcoming International Tennis Premier League (ITPL), which has World No. 1 Rafael Nadal on the roster, according to reports in the media.

According to reports in tennisworldusa, Tendulkar, who recently retired from cricket, has joined hands with PVP Group. He is said to be in long-term partnership with the Tamil Nadu-based media and entertainment company to investinvest in sports in the country.

Prasad Potluri, chairman and managing director of PVP Ventures, commented: “Partnering a legend like Sachin is a privilege. For the past couple of years, our focus has been to aggressively grow our sports business. To do this, we have invested in the Hyderabad team in the Indian Badminton League and the Indian franchise for the IPTL, apart from this football team.”

Earlier, Mumbai was confirmed as one of the five franchises for the forthcoming ITPL that will be played in November.Besides Mumbai, the other four franchise cities are Bangkok, Singapore, Kuala Lumpur and one in the Middle East.

The ITPL, which is being promoted by Mahesh Bhupathi, will have some of the best male and female professional tennis players playing alongside the legends of the game.”We are happy to announce today, the ownership of teams and therefore competition in Bangkok, Singapore, Mumbai, Kuala Lumpur and one more city to be announced in the Middle East.

We have been working relentlessly to formulate and deliver a concept that not only meets global expectations of excellence, but also provides quality tennis coupled with entertainment for fans. With this, we confirmed team owners in five of Asia’s biggest marketsmarkets ,” Bhupathi, co-founder of ITPL, said in a statement.

The ITPL players’ draft will take place March 2 in United Arab Emirates (UAE).Boris Becker, co-founder of the IPTL, said tennis needs ITPL. “This is something that tennis needs. Back in my time we would have loved to have a series of tournaments in Asia, where the demand for world class tennis as an entertainment concept merges with the needs and wishes of millions of fans,” said the German legend.

The ITPL was launched amid huge fanfare in May and the announcement of the five franchise cities is the next big step for the league.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 22,2024

IPL.jpg

The start of the world’s most lucrative cricket tournament in India is presenting investors with another big opportunity to cash in on the sport, months after the world’s most populous nation hosted the Cricket World Cup.

The eight-week long Indian Premier League begins March 22 for its 17th season. Since its inception, the fast-paced cricket tournament has become a corporate juggernaut to rival the National Football League in the US and the English Premier League in value.

Just as October’s Cricket World Cup boosted consumption in India for months, fans are expected to flock to restaurants, pubs and food delivery platforms over the duration of the tournament. This year’s IPL also coincides with general elections that will last for six weeks starting April 19, a period when companies are expecting higher food and drink sales as people flock to rallies and other events.

“There’s going to be a lot of spending,” said Madan Sabnavis, chief economist at Bank of Baroda. “IPL, as well as the election, gives a three-month corridor with enhanced economic activity.”

Stocks in India such as McDonald’s franchise operator Westlife Foodworld Ltd. and peer Sapphire Foods India Ltd. gained ahead of the first match on Friday, as well as hotels and beverage makers. Packaged-food companies could also stand to benefit from the IPL craze, said Sachil Bobade, an analyst at investment firm Dolat Capital Market.

The IPL ecosystem was valued at $11 billion (Rs 91,721 crores) in 2023, including the value of media rights and sponsorships, according to Indian valuation consulting firm D&P Advisory.

The league is also attracting record sums of money from sponsors and broadcasters. Conglomerate Tata Group won the title sponsorship rights of the tournament in January for a record 25 billion rupees ($300 million). Billionaire Mukesh Ambani’s media venture secured the digital streaming rights in 2022 for five years for $2.7 billion, while Walt Disney Co. paid roughly the same for TV rights.

“There was a serious amount of bidding even this year,” said Vinit Karnik, head of entertainment, esports and sports at media agency GroupM South Asia. “I see growth in IPL in double digits year-on-year,” he adds.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.