RIL and IMG forge alliance to develop sports

Reliance Industries Ltd (RIL) and IMG Worldwide,the world's leading sports marketing and management company announced an equal joint venture,IMG Reliance Pvt Ltd to develop,market and manage sports and entertainment in India.

Reliance Industries Ltd (RIL) and IMG Worldwide,the world’s leading sports marketing and management company announced an equal joint venture,IMG Reliance Pvt Ltd to develop,market and manage sports and entertainment in India.

The joint venture initiative expected to unlock the country’s vast but undeveloped sports market,was jointly announced by RIL Chairman,Mukesh Ambani and IMG’s Chairman and CEO Ted Forstmann at a conference.

The new venture,IMG Reliance Pvt Ltd will provide and operate world class infrastructure and coaching facilities in the country to unlock India’s sporting potential and to create and operate major sports and entertainment assets in the country,a company statement said.

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“Development of sports and the sporting culture is a social imperative for India in the 21st Century. World class infrastructure,frugal engineering,technology and scientific coaching are integral part of development of today’s sporting talent globally,” Ambani said.

With IMG’s five decade experience,we are embarking on an exciting journey to transform the sporting fabric in the country. Our joint venture company will actively work with like minded organisations and invest in developing immensely talented young Indians,Ambani said.