GMR looks to unlock value from sports division

livemint.com:

Mint. This move is part of GMR Sports' broader strategy to maximize its potential in the competitive sports industry. Besides a 50% stake in the Delhi Capitals IPL franchise, GMR Sports owns UP Yoddhas in Pro Kabaddi and the Ultimate KhoKho franchise Telugu Yoddhas. “We were the original owners of the Delhi Daredevils, but in 2018, we divested a 50% stake in the team to the JSW Group.

Last year, we added the Women’s Premier League team too. We also own India Capitals in the Legends League." On a global scale, GMR Sports boasts Dubai Capitals in the UAE’s International League T20 and has recently agreed, in principle, to buy a minority stake in the Major League Cricket franchise, Seattle Orcas. Investors in the Seattle Orcas include Satya Nadella, Soma Somasegar, Samir Bodas, Ashok Krishnamurthi, and Sanjay Parthasarathy.

Originally an infrastructure company, GMR entered the sports business following other large groups that ventured into this segment. Reliance Industries, Adani Group (Adani Sportsline), Tata Group, and JSW Group are a few of the major companies that own sports franchises across multiple leagues. “GMR sees a lot of potential in sports, which is why the sports business was carved out as a separate vertical with a very clear vision," Sagar said.

Under GMR Sports, the company intends to participate in any multiplayer sport in India, which it can evaluate and “see that it gives us meaning to participate as a business venture going forward". "And if it is outside the country, we would like to limit ourselves to cricket for the moment. When opportunity comes in the global cricket market that's how we have planned a strategy and plan to move forward," the CEO said.