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IMG-Reliance, Star India Team To Launch Indian Super League Football Championship
Published October 22, 2013
BROADCAST DEAL: In Mumbai, Rao also reported IMG-Reliance has "entered into a multi-million dollar deal with Star India to become equity partners" in a joint venture for the next 10 years to run the proposed football league. Under the agreement, Star will hold a 30% stake in the joint venture with IMG-Reliance to "broadcast and promote" the football league in the country. The IMG-R and Star India's joint venture has decided to distribute 100% of the TV revenue to "its franchise owners in the tournament's first year" (TIMES OF INDIA 10/21). In London, Roger Blitz wrote that the Star Indian investment "is worth between RS15B-RS over 10 years," citing Indian sources. Unlike cricket's IPL, the ISL "is largely a top-down approach to growing football in the country." IMG's Jeff Slack said, "Indian just doesn't have a grass-roots program. If we did that, it's not going to inspire many kids" (FINANCIAL TIMES, 10/21).