Handball ecosystem in India has been presented with a massive investment of Rs. 240 crores for its development by Bluesport Entertainment Pvt Ltd, the official license holders of the Premier Handball League (PHL).
Played by over 190 countries across the world, handball has immense popularity in India at the grassroot level with more than 85000 registered players currently.
With an investment of Rs. 120 crores each for the men’s and women’s games, the company plans to spend 35 crores for grass-root development, nurturing and training junior and sub-junior talents in the country as well as implementing a well-structured program to help local coaches acquire international standards.
“There has been a steady rise in the appetite for new age sports,” said Manu Agrawal, CEO and Co-Founder, Bluesport Entertainment Pvt. Ltd.
“We will be using 25% of the funding in promoting handball across the country, tapping the interest while 15% of it will go into developing the infrastructure which, I feel, will be the key factor in the growth of the sport in India.”
“We expect 33% growth in terms of compound annual growth rate and believe both the men’s and women’s leagues are capable of recovering the investment and turning profitable by the end of their respective third seasons,” Agrawal added.
The Handball Federation of India has welcomed the support.
“Handball as a sport has seen huge investments globally and the sport too has exponentially grown in popularity as well as commercially,” said Anandeshwar Pandey, Executive Director, HFI.
“We have been working rigorously on the development of handball in India for years now and believe this investment by Bluesport Entertainment will bolster the process further,” he added.
Premier Handball League (PHL) under the aegis of the Handball Federation of India (HFI) is scheduled to take place next year as the franchise-based league is all set to add a new and exciting chapter in the history of Indian handball.