Indian Boxing Council gets into lucrative Rs 100 cr deal

The investment is targetted to make India the global hub for professional boxing over the next five years.

By: PTI | New Delhi | Published:November 16, 2016 5:25 pm
boxing, india boxing, indian boxing council, ibc, boxing news, sports news For the young talent there are incentives and scholarships. (Source: Reuters)

Professional boxing body Indian Boxing Council has received a massive financial fillip with Sporty Solutionz Private Limited deciding to pump in Rs 100 crore “to boost the sport” in a multi-year commercial deal.

The investment is targetted to make India the global hub for professional boxing over the next five years.

The investment will flow in a periodic manner at various levels. In the first phase there will be pan-India competitions for the IBC boxers.

The level of competition will be raised by inviting top international professionals, which in turn will uplift the competitive structure, the IBC said in a statement.

Alongside the top level competition, a considerable part of the investment will go towards setting up of IBC academies and training.

The first IBC fight night cards starts from January 2017. This will be followed by a three-tier pro tour where city level Silver Glove competition will be followed by the Golden Glove championships at the State level from where the winners will qualify for national, Asian and World titles.

There are lucrative contracts for top notch boxers. For the young talent there are incentives and scholarships. The marketing and awareness programmes are allocated around 30 per cent of the total investment chunk.

“Professional boxing is an exciting sport with commercial potential to sustain itself. Our investment is based on a pure profit-driven business model, which assures guaranteed timely returns for all stake-holders,” says the Sporty Solutionz Chief Executive, Ashish Chadha.

“We are working on a commercial model, a structure to have competition from cadet to senior national levels. Plans to create training facilities at all levels and an initiative to train coaches and trainers for pro boxing will be announced soon,” he added.

The brain behind IBC, Brigadier PK Muralidharan Raja (Retd) is among the senior most boxing administrators in the country. IBC has a well-trained team of trainers, coaches, psychologists and technical conduct officials.

“The alliance with a commercial partner will drive the sport in the right direction and give the desired pace to our commercial plans,” said Brig. Raja.

“We have been looking for a right associate for commercial and professional success. Our commercial partners have an illustrious and long track record in the business of sports. That gives us right impetus and financial backing to establish pro boxing as the next big thing in Indian sports,” he added.