Oxyrich owners commit ₹25 crore to Maharashtra Cricket Association

livemint.com:

₹25 crore over the next five years. The primary focus will be to identify and nurture budding talent and to facilitate the holistic development of players at all levels, the companies said. Rohit Pawar, president of the Maharashtra Cricket Association, said, “The deal will help us provide better facilities such as infrastructure development, welfare schemes, and grassroots development in remote pockets of the state.

[The two companies] have been supporting athletes in various disciplines and have helped them achieve their dreams. That was the primary reason we decided to collaborate with them for the betterment of Maharashtra cricket." The Punit Balan Group has been investing in sports for some time and owns eight teams across various leagues, including tennis, handball, table tennis, kho-kho, badminton, cricket, arm wrestling and chess. It has also provided financial support to almost 60 aspiring athletes across the country.

“Through our sports division we want to support athletes from various disciplines, and we are happy to support Maharashtra cricket. The state has always been a hub of cricketing talent, and we believe in unlocking the potential of the state's remotest areas," said Punit Balan, owner and CMD, Punit Balan Group. As part of their association, the Manikchand Oxyrich logo will feature on the shirt sleeves while the Punit Balan Group’s logo will appear on the front of Maharashtra’s men’s and women’s teams’ jerseys across all age groups.

Spending on sports sponsorships in India has grown 105% since 2021, according to a report by GroupM ESP titled ‘Sporting Nation in the Making’. Cricket grounds, teams and franchises accounted for 75% of the total spending. Founded in 1953, the Maharashtra Cricket