IBC, Sporty Solutionz ink Rs. 100-cr deal

The Indian Boxing Council (IBC) and Sporty Solutionz have signed a five-year deal under which the latter will pump in Rs 100 crore to boost professional boxing in India.

Indian Boxing Council president Brig. (retd.) P.K.Muralidharan Raja (right) said since the IBC had already started a basic structure, the partnership would boost the sport further.   -  Special Arrangement

In a first of its kind initiative, the Indian Boxing Council (IBC) and Sporty Solutionz have signed a five-year deal under which the latter will pump in Rs 100 crore to boost professional boxing in India.

“The investment is aimed at making India the global hub of professional boxing over the next five years. The active boxers will have opportunities to compete and earn, the retired will be part of a system to create champions and the beginners will have incentives and scholarships to stay focused on the sport,” said a release on Wednesday.

“In the first phase there will be pan-India competitions for IBC boxers. The level of competition will be raised by inviting top international professionals, which in turn will uplift the competitive structure. A considerable part of the investment will go towards setting up of IBC academies.”

The first big event will be the IBC Fight Nights, starting from January next. This will be followed by a three-tier pro tour where city-level Silver Glove and state-level Golden Glove championships will provide a ladder to the boxers to gradually qualify for National, Asian and World titles.

IBC president Brig. (retd.) P.K.Muralidharan Raja said since the IBC had already started a basic structure, the partnership would boost the sport further.

Sporty Solutionz chief executive Ashish Chadha said the investment would be a “pure profit-driven business model, which assures guaranteed and timely returns for all stake-holders.”