As "owning a sports club becomes the new status symbol for country's uber rich," it is India's wealthiest man -- Reliance Industries Chair Mukesh Ambani -- who "leads the pack" with his Indian Premier League team Mumbai Indians being worth an estimated $200M, according to the PTI.
Forbes reported that India's richest "are racing to own sports teams" in the field of cricket, kabbadi, field hockey and badminton. Other billionaire IPL team owners include G.M. Rao at 98th in the Forbes India rich list, who owns the Delhi Daredevils and media magnate Kalanithi Maran (ranked 38), who owns the Sunrisers Hyderabad. Forbes said,
"For India's rich, having a sports club of one's own is the newest status symbol." Forbes added that Mohit Burman, the scion ranked No. 18 on the Forbes list, "has two of them." The Ambanis "are also backing what they see as the next big thing: soccer."
The newly launched Indian Super League, in partnership with sports management firm IMG, "made its debut in October with Brijmohan Lall Munjal's Hero MotoCorp as the title sponsor" (PTI, 9/28).
