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IMG Reliance Gains Commercial Rights To Soccer In India
Published December 10, 2010
The All India Football Federation Thursday announced that IMG Reliance has acquired the commercial rights to soccer in the country in a 15-year deal. The deal grants IMG Reliance all commercial rights to all soccer properties controlled by the AIFF, including but not limited to the national teams and all current and future pro leagues. IMG Reliance is a joint venture between IMG Worldwide and Reliance Industries (IMG). REUTERS' Ben Klayman noted terms of the deal, which comes "six months after a similar Indian basketball agreement," were not disclosed, but a source valued it at around $140M. The deal "gives the joint venture the right to 'radically restructure, overhaul, improve, popularize and promote' soccer on an amateur and professional level." There are "more than 3.5 million registered players in 36 state associations that are affiliated with the federation." Reliance Chair Mukesh Ambani is "India's richest man" (REUTERS, 12/9).