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Pro Wrestling League franchises to break-even in 3 years, says co-promoter
MUMBAI: The franchises of the newly launched Pro Wrestling League will break-even in three years and on an operational level in two years, said Sporty Solutionz CEO Ashish Chadha, the co-promoter of the league along with iTV Network MD Kartikeya Sharma.
Sharma’s Pro Sportify has taken 15 years rights from the Wrestling Federation of India (WFI) to organise the league. The inaugural edition of the league will be held from 8 to 29 November.
Unlike other professional leagues where franchises are required to manage the operations of their matches, Pro Sportify will take care of all the operational burden of the league for the first two years.
“We are taking most of the extra periphery costs for the initial years. Franchisees have to take care of fixed costs like franchise fee and players’ cost. We will manage most other costs. We will do hand-holding for the first two years after which the franchises will manage operations on their own,” he added.
“We will have six franchises to start with and it might be increased from the next season. We will sell teams through tendering process and bid document will be out in two days. The base price of franchise cities is Rs 3 crore per annum and an increase will happen every five years,” Chadha stated.
He also revealed that nine cities including Delhi, Bombay, Kolkata, Ranchi, Hisar, Ludhiana and Lucknow have been finalised as franchise cities for the league.
So why have so many urban centres as franchise cities when the game is popular in rural and semi-urban parts of the country? “Wrestling is considered a Tier III and Tier IV sport, hence our target to urbanise the sport,” he said.
He also said that a broadcaster would be finalised by September. The broadcast partner would be selected through tendering process.
“By 1 September, we will finalise our broadcast partner. We are going to come out with the bid document for broadcast partner in 15 days. We are looking at longer duration partnership with broadcasters,” he stated.
Chadha said that most of the players have been signed up and the player auction will be held on 15 September. The league boasts a prize and an auction purse that aggregates to $3 million.
Each team will consist of 11 players—six male and five female; six Indians and five foreign internationals. The PWL will be played on the best-of-nine format, but all the nine bouts will be contested during the league phase. Each bout will have three rounds of three minutes each, separated by a one-minute break.
To make the contest more interesting, players will be given half-a-point bonus for FALL and half-a-point bonus for greater superiority, which is established on a 15-point lead.
Though the revenue share formula between the franchise and the league is still being worked out, the central pool revenue will be shared in a ratio of 60:40. The organisers have earmarked Rs 35 crore (Rs 350 million) for marketing the league.