“The group is in the advanced stages of negotiations to buy a team in PKL. It is also eyeing a franchise in the CPL,” one of the sources said.
Currently, the PKL comprises 12 franchises.
Three IPL teams—KKR, Rajasthan Royals, and Punjab Kings—already own teams in the CPL backed by the West Indies Cricket Board (WICB).
The Punit Balan Group already owns franchises in the Global Chess League, Premier Tennis League, Ultimate Kho Kho, Premier Handball League, Ultimate Table Tennis, Pro Panja League, Premier Badminton League, and Maharashtra Premier League, a T20 cricket league.
“We will be investing close to Rs 150 crore in the existing franchises for the next five years,” said Punit Balan, the promoter of the group. The company estimated investments in the existing franchises are Rs 25–26 crore per year.He added that the investments can go up to Rs 250–300 crore if the group manages to buy new teams. He refused to specify the franchises or leagues in which the group intends to invest. “Some of the leagues, like handball and tennis, require low investments, whereas others, like Kho-kho, chess, and cricket, require high investments,” he noted.Balan said that the group has invested in all the leagues with a long-term vision in mind. He also stated that the growth of non-cricket sports offers the group a lot of hope for the long-term viability of these leagues.
“We expect to break even in three years and then turn a profit in the fifth or sixth year,” he said.
According to Balan, the company invests in leagues based on a few essential criteria. The first is the league’s backing from the association, and the second is whether the league is supported by strong individuals passionate about the sport.
“Association support for the league is critical. Similarly, the league requires a powerful promoter. The kho-kho league is supported by Dabur, table tennis by Vita Dani and Niraj Bajaj, and chess by Tech Mahindra,” he explained.
Apart from its investments in sporting leagues, the group also supports 55–60 athletes. It invests Rs 5–6 crore per year in grooming these athletes.
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