The corporate will use the funding to speed up the expansion of each males’s and ladies’s handball in India within the subsequent 5 years, offering it with a much-needed increase not simply on the elite degree but additionally on the grassroot
With a imaginative and prescient to develop the handball ecosystem in India and take the game to the following degree, Bluesport Leisure Pvt Ltd, the official license holders of the Premier Handball League (PHL) below the aegis of the Handball Federation of India (HFI), has introduced a mammoth funding of INR 240 crore. The corporate has additionally disinvested shares and onboarded entrepreneurs Vivek Lodha and Abhinav Banthia as their strategic buyers. The corporate will use the funding to speed up the expansion of each males’s and ladies’s handball in India within the subsequent 5 years, offering it with a much-needed increase not simply on the elite degree but additionally on the grassroot.
“Funding in addition to having the suitable individuals as companions is essential to growing any sport. Aside from creating knowledgeable handball league and its advertising, we’re additionally taking a look at a holistic method to develop the game on the grass-root degree via varied strategic collaborations and customised packages particularly curated to coach the gamers, coaches in addition to upgrading the handball infrastructure in India. The enterprise acumen of Mr Vivek Lodha and Mr Abhinav Banthia and our imaginative and prescient to revolutionize this quickest Olympics sport in India below the steering of the HFI are a number of the causes that ensured the board to go forward with this funding,” stated Manu Agrawal, CEO and Co-Founder, Bluesport Leisure Pvt. Ltd.
The corporate has already acquired the rights for each males’s and ladies’s leagues—PHL, in India for the following 10 years. With an funding of INR 120 crore every for the boys’s and ladies’s video games, it plans to spend 35 cr for the grassroot improvement, nurturing and coaching junior and sub-junior abilities within the nation in addition to implementing a well-structured program to assist native coaches purchase worldwide requirements. It would additionally present vital worldwide publicity and overseas coaching alternatives to the Indian gamers via the league.
“Handball is already a preferred and far adopted sport globally and with a large youth inhabitants in India, there was a gradual rise within the urge for food for brand new age sports activities. We will likely be utilizing 25% of the funding in selling handball throughout the nation, tapping the curiosity whereas 15% of it’s going to go into growing the infrastructure which, I really feel, would be the key issue within the development of the game in India. Within the subsequent 5 years we not solely wish to change the way in which handball is being performed or perceived within the nation but additionally to make the PHL a commercially viable product. We count on 33% development in
phrases of compound annual development charge and imagine each the boys’s and ladies’s leagues are able to recovering the funding and turning worthwhile by the tip of their respective third seasons,” Agrawal additional added.
Performed by over 190 international locations internationally, handball has immense reputation in India on the grassroot degree with greater than 85000 registered gamers at present. It is among the few sports activities the place feminine gamers match the competitiveness of their male counterparts and it additionally calls for an important bodily health.
The much-awaited inaugural version of the PHL is scheduled to happen subsequent 12 months because the franchise-based league is all set so as to add a brand new and thrilling chapter within the historical past of Indian handball