IMG – Reliance Cuts Deal with Star India
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According to a report in TOI, it is understood that IMG – Reliance has struck a deal with Star India to become equity partners in a JV to run their proposed IPL-Style football league.
After this development, Star India will hold 30% stake in the joint venture IMG – Reliance. According to the report, IMG – Reliance and Star India will disperse 100% broadcast revenue to franchise owners in the first season.
Elsewhere in TOI, it is also reported that football stars such as Yorke, Ljungberg, Pires, Crespo and Saha has been signed by IMG – R for their upcoming league. Thierry Henry and Michael Owen could also join the fray. Peter Schmeichel, the legendary Danish and Manchester United goal keeper and Marcel Marcel Desailly former Chelsea and France legend has been roped in the role of coaches.
IMG – R Chair Person Nita Ambani confirmed to TOI : “Having Star on board as a partner strengthens our efforts and commitment to propel Indian football to its rightful place. We see the launch of the football league as the realization of a dream of a billion-plus Indians to experience the most cherished game globally in new ways,”
It is also understood that some I-league clubs will all bid for franchises during the auctions. Pune FC-Piramals, East Bengal, JSW, Dempo-Salgaocar are in the fray to pick up franchises. Apart from that a host of corporates, Celebrities and a consortium of businessmen from Kerala are in the fray for team in the proposed league.