Reliance Industries (RIL) Acquires 49% Of Oval Invincibles

RIL acquires Oval Invincibles

Reliance Industries Limited, parent company of Mumbai Indians, signed a deal with the Oval Invincibles of The Hundred, acquiring a 49% stake in the franchise, valued at 123 million pounds sterling for the entire team. Reliance will pay 60 million pounds sterling for the total equity of 49 percent. Reliance Industries (RIL) Diversifies Cricket Business Portfolio The acquisition of the Oval Invincibles is a major step by RIL as an expansion of its cricket franchise, which it has already invested in on other frontiers: Mumbai Indians (IPL and WPL), MI New York (MLC), MI Cape Town (SA20) and MI Emirates (ILT20). The sixth team under the RIL Banner will add momentum to the Company’s global cricket presence-the Invincibles. Intense Competition And Acquisition Terms Their bid defied strong competition from a Silicon Valley tech consortium comprising Google’s top executive, a senior Microsoft executive and the head of Adobe, not to mention private equity giant CVC. According to reports, RIL’s final bid valued the Invincibles at £123 million, with the company’s 49% stake costing just over £60 million. The ECB has yet to officially confirm the successful bidders, though an announcement is expected next week. Oval Invincibles – A Strong Brand One of the most successful brands that came under The Hundred was Oval Invincibles. Similar to men, they took away consecutive titles for The Hundred, and their women’s teams also won two consecutive titles for each respective The Hundred. This epitomised success and attracted the gaze of investors. RIL came out as one of the strong contenders for English cricket. Surrey To Retain Majority In Invincibles Even with new investment by RIL, though, the control of the Surrey, the owner of the franchise Invincibles will not be going as the county club had stated early on that they would hold to the majority percentage of their equity even as host venues were granted the option for selling 51% of it in the privatisation process provided by the ECB. Knighthead Capital To Buy Birmingham Phoenix On the flip side, reports say, US-based hedge fund Knighthead Capital won Birmingham Phoenix. It will be Knighthead’s first adventure in the world of cricketing after it had bought Birmingham City Football Club back in 2023. In addition, it is investing in the city in new developments including a “sports quarter.” A Year Of Transition For The Hundred This might just be another exciting turn of things in The Hundred as RIL comes in and replaces the Invincibles. This will definitely be a transition year for the tournament, at least for 2025 which falls between August 5th to 31st. ECB was actually not looking to go head to head with Major League Cricket; one could see how all this was going to be playing out into the future. As the season progresses, little other than a lead story should be written inside the embryonic narrative of The Hundred as these big-name ownership deals start to have their say. The Sportz Planet Desk,Atharva Shetye

India’s Sports Industry Anticipated To Reach $ 130 Billion By 2030

India's Sports Industry

India’s sports industry is expected to see explosive growth. According to the reports by Deloitte and Google, India’s sports industry will jump from $52 billion this year to $130 billion by 2030. This growth is driven by the jump in India’s multi-sport fan base and increasing engagement among Gen Z audiences who make up 43% of the country’s 655 million sports fans. Shifting Fan Demographics And Rise of Digital Engagement Cricket captured 70% of all sports-related digital searches. Others like kabaddi, football and indigenous games like kho-kho gained more ground quickly, which meant that there was a much broader, more deep-rooted sports culture in the country. Indians’ way of consuming sports online is changing with 93% of Gen Z fans accessing the content online. Gen-Z fans are also spending 20% more time on non-live content, highlights, short-form, etc. All of this opens the doors to new means of personal engagement by the fan. Technology As An Enabler For Fan Experience And Growth Technologies based on AI and cloud platforms are transforming the fan experience and revolutionizing talent scouting and athlete training. Fueling platforms such as YouTube, fantasy sports, and social media, this technological revolution also drives the expansion of esports, which is estimated to become a $200 million market by 2030. Economic Impact And Job Creation Just as impressive is the economic and employment potential bound up with the sports sector. It will support 10.5 million jobs and generate indirect tax revenues of $21 billion by 2030. The sporting goods and apparels market alone is expected to double to $58 billion, on account of a steadily growing fitness-conscious population and increased demand for team merchandise. Broadcasting rights and sponsorship revenues, which include the crème de la crème of sports, such as the Indian Premier League, are further testimony to the economic promise of the sector. However, nevertheless, there are areas which really remain an issue: infrastructure and governance. India’s per capita budget on sport is minuscule compared to giants such as the UK and Australia. However, it is beginning to see some direct action taken by the government, such as through the National Sports Policy 2024, to address these weaknesses. Grassroots development would also get a huge fillip from public-private collaborations and innovative funding models. Expanding Rural And Female Audience Base Rural and female sports audiences in India are growing, with 59% rural fans and 36% female fans engaging in sports. Content localization, especially in regional languages, and the promotion of indigenous sports are more ways that can tap into the untapped segments. Bright Future Ahead for India’s Sports Industry As India’s sports sector gains speed towards the set $130 billion, India finds itself not only at the brink of becoming a global sporting powerhouse but also to be spreading an atmosphere of inclusiveness, diversity and national unity. The Sportz Planet Desk,Atharva Shetye

IPL 2025 Mega Auction: Top Catches And Misses

IPL 2025 Mega Auction

India’s big names like Rishabh Pant, Shreyas Iyer, KL Rahul, Ravichandran Ashwin and Yuzvendra Chahal are among the cricketers to quote a base price of ₹2 crores when they go under the hammer at the Indian Premier League (IPL) 2025 Auction table. In total 1,574 players are set to go under the hammer at the IPL 2025 Mega Auction out of which 409 are overseas players. Shami and Siraj In IPL 2025 Mega Auction Mohammed Shami is also one of those who would be going under the hammer with the base price of ₹2 Crore as he was released by the Gujarat Titans. Same is the case with Mohammed Siraj, who was released by the Royal Challengers Bengaluru. Other top Indians entering the IPL 2025 Mega Auction are Ishan Kishan, Deepak Chahar and Bhuvneshwar Kumar, whose base price has been set at ₹2 crores. Umran Malik shall be there at the IPL 2025 Mega Auction at a base price of ₹75 lakhs. Overseas Stars Opt for ₹2 Crore Base Price At IPL 2025 Mega Auction International players like Australia’s Mitchell Starc, who was the record buy of KKR in IPL 2024, will enter the IPL 2025 Mega Auction at ₹2 crore. Other overseas stars in this category are Steven Smith, Jofra Archer and Jos Buttler, with David Warner who now is retired from international cricket joining them. Anderson Walks In England’s old guard, James Anderson has opted to participate in the IPL and has registered himself in the IPL 2025 Mega Action. The man who always prioritised his country and red ball cricket over franchise cricket has now shown interest as he finds time for his leisure post retirement. It would be really interesting to see in which franchise Anderson finds a place. The master of swing would surely be a treat to the eyes if he gets an opportunity in the IPL. Ben Stokes Out; Italian Player Joins IPL Auction Ben Stokes is the standout miss by England, though there’s James Anderson with a reserve price of ₹1.25 crore. Recent recruit by ILT20 in Italian bowler Thomas Draca features in this list as well. IPL 2025 Mega Auction To Take Place In Jeddah In November The Indian Premier League (IPL) 2025 Mega Auction is scheduled to be held on November 24th and 25th, 2024 in Jeddah, Saudi Arabia. A total of ₹120 crore in the purse lies before franchises, which will help fill their respective squads. The Punjab Kings would enter the IPL 2025 Mega Auction with the biggest purse, amounting ₹110.50 crore. The Sportz Planet Desk,Atharva Shetye

IPL 2025: KKR Likely To Overhaul Player Retention List

KKR

Kolkata Knight Riders (KKR) look to have a major overhaul before Indian Premier League (IPL) 2025. Captaincy of the team during winning the title in 2024 has hardly protected Shreyas Iyer along with two such veterans, one an old-timer Andre Russell who has been there from his early years with Kolkata. Another fast bowler will be Australian Mitchell Starc. Instead, they wish for core players in their fraternity such as Sunil Narine, Rinku Singh, Varun Chakravarthy along with promising young fast bowling talent Harshit Rana. KKR To Part Ways With Iyer And Russell It has gone even further by choosing to send both Iyer and Russell out of their way. Shreyas Iyer, KKR’s costliest buy in the auction held in 2022 at INR 12.25 crores, had scored 351 runs at a strike rate approaching 147 during this year’s season where the game was won by the side he represented. Meanwhile, Russell, KKR staple since 2014 has had his stint, showing promise with his striking innings of 222 and important wickets – 19. Both seem likely candidate for another team to lure them in auction. Starc To Have Meagre Possibility For Retention After achieving the bargain to sign up Mitchell Starc at an all-time INR 24.75 crore for 2024, KKR has set itself free to leave behind the Australian pacer. Though Starc, whose league campaign more or less went unremembered, gave excellent showings during the playoffs with 3/34 and 2/14 each in knockout phases that contributed to bringing KKR a title for itself, this seems one more step where KKR seems to consider redistribution of fund for a probable younger generation of players from a futures point of view. Narine, Chakravarthy and Rinku Expected to Lead KKR’s Retention List Sunil Narine, who rendered valuable services as an explosive opener and a safe-plays bowler, has been cemented in KKR’s retentions. The league was one of Narine’s star performers by taking 17 wickets at an economy rate of 6.69. Retained at an INR 8-crore cap for the 2022 version by KKR, Varun Chakravarthy has still gone on to be their top wicket-taker in the two editions so far; he hasn’t had a strike rate of less than that of a shade over 19 till date. While Rinku Singh has got everyone talking and a strike rate of 207.97, he has gotten picked for the T20I side repeatedly and needed to have been retained prior as one of the bigger promises of the future during the same time. The Auction Strategy Of KKR KKR is also weighing its options on the retention of fast bowler Harshit Rana who has been included in the India Test squad and explosive batter Ramandeep Singh, whose potential remains to be tested. These two retentions will push KKR’s total retention cost between INR 47 crore and INR 51 crore, pending final selections. With a maximum of six retained players being allowed in each franchise and only five capped internationals being retained, the submission deadline on October 31 forces KKR to maintain a delicate balance between experience and young talent. A Fresh Start For KKR In IPL 2025 By saying that the new season of 2025 will look into a much younger dynamic side, KKR seems to send a strategic message over their plans. This seems likely to shake up greatly with the mega auction during the season where the franchises seem to find ways for their remaining slots and better edge to face the competitions that await them in IPL for the year 2025. The Sportz Planet Desk,Atharva Shetye

IPL 2025 Mega Auction: All You Need To Know In A Q&A Format

IPL 2025 Auction

With the Indian Premier League (IPL) 2025 Mega Auction just around the corner, franchises are finalizing player retention and fans are eagerly waiting for updates on team compositions. So, here’s a comprehensive Q&A on everything you want to know before the big day. Q1: How many players can each IPL team retain before the mega auction? As many as six players can be retained by each team from their IPL 2024 roster. Those can include a maximum of five capped internationals and two uncapped Indian players. This six-player retention limit helps retain the core for teams before the auction. Q2: What is the cost of player retention for teams? Every IPL franchise has a budget of INR 120 crore for building their squads for the 2025 season, up 20% from last year. Here is the list: First retained player: INR 18 croreSecond retained player: INR 14 croreThird retained player: INR 11 croreFourth retained player: INR 18 croreFifth retained player: INR 14 croreEvery uncapped Indian player: INR 4 crore If a team continues to retain five capped players then they will lose at least INR 75 crores from their purse. Q3: Are the five capped players to be decided or split by the team within the retention amount? Yes. The amount of INR 75 crore that is required to retain five capped players can be split in any proportion, but the total amount cannot exceed INR 75 crore. So, if a franchise wants to retain its star player at INR 23 crore, it could retain a fifth player at a lower amount to balance the budget. Q4: What’s the buzz around player retention and the challenges teams face? Sunrisers Hyderabad has only fueled the controversy with reports that it plans to retain Heinrich Klaasen for INR 23 crore. In this case, the other teams like Mumbai Indians who are planning to retain the marquee players Hardik Pandya, Rohit Sharma, Jasprit Bumrah and Suryakumar Yadav, would be the ones having to make tricky decisions regarding fair distribution of their retention purse. Besides, there is talk that the players such as Rishabh Pant, KL Rahul and Shreyas Iyer may also choose to go for the auction rather than retention. Q5: What is the Right-to-Match (RTM) option and how does it work? The RTM option allows teams to bid back for players during the auction if they did not retain them earlier. Here’s how it works. A team that retains less than six players on October 31 can use RTM options in the mega auction. If they retain three players, for instance, they are eligible to use three RTM options. In the IPL 2025 auction, if the former player of a team is sold by another franchise, the selling team has an option to match the highest and buy back the player However, this year, with a new twist, should a team exercise an RTM, the highest bidding franchise can raise their original bid again. The exercising team must then match this new, higher bid so that they can secure the player. Q6. How does the RTM rule affect uncapped players? If an IPL franchise has retained five capped players, they can only use their RTM option to buy back an uncapped player. If two uncapped players are already retained, teams can’t use RTM on an additional uncapped player during the auction. Q7: Why is MS Dhoni now considered an uncapped player and how does that impact Chennai Super Kings? The IPL has brought back a regulation through which players who retired, or have not played cricket at the international level within the last five years of the draft, would go under the uncapped segment. This ensures the Chennai Super Kings can keep MS Dhoni as an uncapped player and forfeit just INR 4 crores from their purse while the rest can be more.  Q8: Can a player decline retention by his own IPL franchise? Yes. A player can decline a retention offered by his very own IPL franchise and go under the hammer. Also, no trades of players allowed between the date of the retention on October 31, 2024 and the start of IPL 2025 season. Q9: When is the IPL 2025 Mega Auction? Although the official date for the IPL 2025 Mega Auction is yet not declared, it is supposed to happen in the last week of November. The IPL auction generally happens over two days. The retention deadline draws near on October 31st, 2024 and teams build up on their strategies ahead of what is to be an exciting IPL 2025 Mega Auction. The Sportz Planet Desk,Atharva Shetye

What’s Currently Happening In The Indian Sports Business Sector?

Sports Business

India’s sports business landscape is full of fascinating opportunities, brought about by unique cultural and demographic factors that distinguish the country from other global markets. To gain a foothold in the sector, brands and companies need to understand such characteristics to develop successful sports business ideas in India. Cricket: The Unchallenged Giant In Indian Sports Business Cricket is the stronghold of India’s sports business. From across the generations, cricket encompasses massive spectator audiences, large sponsorships and a strong merchandising network. This pervasive love for cricket sustains a lion’s share of sports-related investments within the country. But while cricket remains the icon, there are plenty of growth opportunities in sports like soccer, tennis, basketball, boxing and kabaddi, the sport popularly played in India, almost akin to rugby. Young and Growing Fanbase Fuels Sports Business Ideas The most important demographic for sports business management in India would be the “young quarter” — people between 15 and 29. The level of enthusiasm for fitness and sports activities is at its peak within this age group, further fueling increasing demand for sports goods, digital experiences and live events. Companies that understand the lifestyle and aspirations of such young consumers are well on their way to winning long-term brand loyalty and building successful sports-related business ideas in India. Income Diversity Sports business management is challenged as well as an opportunity due to a spectrum of different incomes across the country of India. A traditional consumer is often price sensitive, with premium buyers keen on investing in luxury items and exclusivity. While India was largely price sensitive till date, the enormousness of its population ensures it has enough consumers that form a broad segment eager to invest in luxury sports products. This necessitates sport business ideas that are sensitive to high-value urban markets and cost-sensitive rural markets. High-quality sporting options are in hot demand in city centers from tennis and basketball to fitness-focused propositions like gyms and yoga studios. Cricket and other outdoor pursuits dominate rural regions that remain accessible. Regional tastes and finances would, therefore also inform a strategy tailored to the region. Regional Preferences and Sports Business Potential The regional sports preferences in India further fragment the market. For instance, soccer is deeply ingrained in West Bengal and Kerala, while kabaddi is very popular in Punjab and Haryana. Such fragmentation makes successful sports-related business ideas in India consider local sporting culture to effectively connect with target audiences across various states. A one-size-fits-all strategy is unlikely to resonate with such diverse tastes and needs. Infrastructure Challenge India faces a large infrastructural challenge in its sports market that slows the professionalization process of most of its sports relative to North American, European, or Chinese markets. Extremely low accessibility to quality sports infrastructure and highly underdeveloped frameworks on coaching lines pose an issue in furthering the cause. Infrastructure gaps are very key, particularly on the part of sports business management, grassroots programs, training facilities and skill development programs. Future Prospects in the Indian Sports Market Where cricket undoubtedly rules the roost, the sheer size and complexity of India offer enough scope. The fast-growing youth population, shifting consumer sentiments and mix of income groups do present a unique culture for brands and companies. Here lies the vivid promises of opportunities to reach out if one is willing to adapt and innovate. With strategic, locality-aware sports business management combined with infrastructure development, it is not long before this country becomes a global phenomenon in sports, further accelerating unique sports business ideas among its diverse population. The Sportz Planet Desk,Atharva Shetye

All You Need To Know About GMR Group’s Deal With Hampshire

GMR

Hampshire announces the deal with GMR Group, becoming the first English county cricket club owned by an overseas investor. Here’s what the deal means in practice. Have Delhi Capitals bought Hampshire? Not exactly. Delhi Capitals is a 50-50 joint venture between the two sports arms of Indian conglomerates JSW Group and GMR Group. GMR had bought the Delhi franchise – then called Delhi Daredevils – before the first season of the IPL in 2008 and sold 50% to JSW in 2018. GMR are the only relevant party in the Hampshire deal. Who are GMR and why have they invested in cricket? The GMR group describe themselves as a leading infrastructure developer who own and manage projects in a number of different areas. They own and run six airports, including Delhi and Hyderabad.  GMR says its sports division has the social objective of promoting and nurturing potential talent at the grassroot level in Delhi while the IPL has proved a lucrative investment: having paid US$84 million for the Delhi franchise in 2008, they sold a 50% stake in 2018 for US$66m. Do GMR own any other teams? Yes. GMR are the owners of Dubai Capitals in the UAE’s ILT20, India Capitals in the Legends League Cricket (LLC) and have a stake in Seattle Orcas (MLC). JSW, their IPL co-owners, run Pretoria Capitals in South Africa’s SA20 and the two companies also co-own Delhi Capitals Women in India’s WPL. GMR also owns teams in kabaddi and kho-kho. Has GMR taken over at Hampshire? Hampshire Cricket announced on Monday morning that GMR have bought a majority stake – reported to be 53%-in Hampshire Sport & Leisure Holdings Ltd, with a full buyout to be completed in two years. Rod Bransgrove, chair, and David Mann, chief executive, will stay in place until that two-year period has elapsed. What does this mean for the Hundred? In effect, the ECB began the process of disposing stakes in the eight Hundred teams at the beginning of the month. Under this model, the ECB would sell 49% stakes in every team to private investors and transfer 51% to the host venue or county, which in Southern Brave’s case would be Hampshire. Will GMR become the majority owners of Southern Brave by default? No, it isn’t. The ECB’s sales process contains a clause which allows the ECB the discretion whether or not to sell 51% stakes to hosts. They can decide to hold onto it if they feel that an investor is trying to bypass the wider sale process or buying a franchise up the backstairs. The deal is not dependent on getting a Hundred franchise. But in reality…? The ECB have consulted with every franchise in the IPL and WPL to invest into Hundred teams, and GMR seem very likely to make a bid for the remaining 49% in the sales process of Southern Brave. If GMR’s bid is accepted by the ECB as being at fair market value, Hampshire would then be sold the other 51% and GMR would, therefore, be considered 100% owners of the Hundred franchise. What’s in it for Hampshire? Most obviously, money. Hampshire said in a statement that the deal was designed to strengthen the financial position of their parent company, which also runs the on-site hotel and golf course at the Utilita Bowl. GMR will provide a material injection of capital to reduce the leveraging of the company – in other words, starting to pay off Hampshire’s £60 million debt. Bransgrove said GMR was selected following a rigorous selection process due to its aligned values and commitment to our vision. The Utilita Bowl has awarded the first men’s Ashes Test in 2027, with Bransgrove saying it needed investment to allow Hampshire to remain at the top table.  Didn’t Hampshire do something like this previously? Yes. Hampshire were formerly part of a remarkably short-lived tie-in with Rajasthan Royals back in 2010, playing as Hampshire Royals for four years as one of five ‘Royals2020’ teams globally. The arrangement was quietly mothballed after a row between Rajasthan’s owners and the IPL saw the franchise briefly expelled from the competition. What’s Kevin Pietersen got to do with it? Kevin Pietersen played a behind-the-scenes role to try to grease the wheels of the deal as a common link between Bransgrove and GMR’s Kiran Kumar Grandhi. Pietersen played for both Hampshire and Delhi Daredevils (as they were then known) during his playing career. Will Hampshire’s deal be the first of many in county cricket? Maybe, but not straight away. Hampshire are one of only three counties, the others being Durham and Northamptonshire, that are private limited companies rather than member-run mutual ‘societies’, though Yorkshire’s chairman Colin Graves is trying to demutualise the club to unlock the door for private investment. Most of the counties rely on ECB central funding for revenue and therefore might consider private investment as an alternative source. The Sportz Planet Desk,Atharva Shetye

Juventus Posts A Year Of 199.2 Million Euros Loss

Juventus

Italian football team Juventus posted yet another disappointing year in the books with a loss of 199.2 million euros for the last 12 months that ended in June. That makes the club’s fifth successive annual loss. Still, it says it is on the way to recovery and will break even at the operating level this financial year. Loss Linked To European Ban Revenue for the 2023/24 fiscal year declined by 22% to 395 million euros primarily because of the disqualification from European competitions owing to accounting issues. In comparison to last year’s returns, at 124 million euros, the loss is an increase of 271 million euros. Shareholders cautioned to strengthen the finances. Being quoted on the Milan Stock Exchange and controlled by the Agnelli family for over a century, the club has had no other option but to go to shareholders for capital support. For three consecutive years from 2008 to 2011, Juventus managed to raise about 900 million euros through separate cash calls operations so as to strength balance sheet. To Be Continued: Champions League and Cost Cutting Forward-looking, the club is banking on a return to the Champions League and cost-cutting measures taken recently to strengthen financials. “Operating result and cash flow are expected to break even during the financial year 2024/2025,” said the club, terming these two as the prime reasons behind the improvement. Target Net Profit 2026-27 The Turin-based club, according to the business plan approved last year, is looking to regain net profitability by 2026-27. The club last saw net profit during the 2016-17 season. The Sportz Planet Desk,Atharva Shetye