Bengaluru, Sep 15 (Agency) The Bluesport Entertainment Pvt Ltd on Wednesday announced a mammoth investment of Rs 240 crore to develop the handball ecosystem in India and take the sport to the next level. Bluesport Entertainment is the official license holder of the Premier Handball League (PHL) under the aegis of the Handball Federation of India (HFI). The company has also disinvested shares and onboarded entrepreneurs Vivek Lodha and Abhinav Banthia as their strategic investors. It will use the funding to accelerate the growth of both men’s and women’s handball in India in the next five years, providing it with a much-needed boost not just at elite level but also at the grassroot.
“Apart from creating a professional handball league and its marketing, we are also looking at a holistic approach to develop the sport at the grass root level through various strategic collaborations and customised programs especially curated to train the players, coaches as well as upgrading the handball infrastructure in India,” Company CEO and Co-Founder Manu Agrawal said in a release. The company has already acquired the rights for both men’s and women’s leagues – PHL, in India for the next 10 years. With an investment of Rs 120 crore each for the men’s and women’s games, it plans to spend 35 crore for the grassroot development, nurturing and training junior and sub-junior talents in the country.