PVP Group buys first IBL franchise
New Delhi, Jun 19, 2013, PTI : 23:08 IST
The Indian Badminton League (IBL) on Wednesday announced its first franchise — the Hyderabad-based multi-business house, the PVP Group.
The PVP Group, with interest in realty, media and entertainment, particularly Bollywood, successfully bid for the Hyderabad Hotshots in the proposed $1-million league in what was their maiden foray into sports.
Speaking on their association with IBL, Mr Prasad V Potluri, the Chairman of PVP Group, said, “We are extremely delighted with our association with the Indian Badminton League. PVP Group aims to utilise this platform and will ensure that badminton in India grows.”
The IBL, which had already been postponed twice, is now set to launch on August 14. It would feature six franchises during the 18-day event. Each franchise would host a two-day leg with the League showcasing a total of 90 matches.
The top four franchises in the league would clash in the semifinals and the winners would meet in the grand final on August 31 in Mumbai.