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Sajjan Jindal and Dharmendra buy teams in Pro Wrestling League
MUMBAI: JSW CMD Sajjan Jindal and Bollywood actor Dharmendra have bought teams in Kartikeya Sharma-promoted Pro Wrestling League, thereby adding to the growing interest of corporates and celebrities in the business of sports.
Jindal has bought the Bengaluru team through his company JSW Sports, which also owns I-League club Bengaluru FC.
Dharmendra, along with his sons Sunny Deol and Bobby Deol, has teamed up with Delhi based real-estate firm CDR Group to buy the Punjab team.
“We have got Sajjan Jindal and Dharmendra, as well as the CDR Group, as owners of Bengaluru and Punjab team. We are in the process of signing other team owners,” a source told TelevisionPost.com.
The franchises will pay the base price of Rs 3 crore (Rs 30 million) as franchise fee annually, which will go up from third year onwards, the source added.
Pro-Sportify, a company floated by iTV Network MD Kartikeya Sharma, had partnered the Wrestling Federation of India (WFI) to launch Pro Wrestling League. Apart from Sharma, Sporty Solutionz CEO Ashish Chadha is also the co-promoter of the league.
The league, which is slated to take place between 8 and 29 November, will have six franchises. The central pool revenue will be shared in the ratio of 60:40 with the franchises keeping 60 per cent and organisers keeping the rest. The organisers have earmarked Rs 35 crore (Rs 350 million) for marketing the league.
The inaugural edition of the league will witness a congregation of world’s top 66 wrestlers including 20 Olympic medallists from across the globe. It boasts a prize and auction purse that aggregates to $3 million.
Six city-based teams will battle it out against all others once during the league phase. Each team will consist of 11 players–-six male and five female players; six Indians and five foreign internationals. The PWL will be played on the best-of-nine format. However, 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 get half-a-point bonus for FALL and half a point for greater superiority, which is established on 15-point lead.
The promoters claim that the event will be produced in 4K, televised live in over 150 countries across the world. Coverage will be innovative and driven by state-of-the-art technology.