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Kabaddi
Ronnie Screwvala to sell U Mumba Kabaddi team?
In a shocking statement made last week, the owner of Pro Kabaddi League (PKL) team U Mumba, Ronnie Screwvala, had said that he is looking to sell his team.
UMumba Kabaddi Team
In a shocking statement made last week, the owner of Pro Kabaddi League (PKL) team U Mumba, Ronnie Screwvala, had said that he is looking to sell his team.
This statement came in the aftermath of Star India winning an online auction for the media rights of PKL for a duration of five years.
"U Mumba will look to sell its team ownership in PKL. Nepotism played out to a sham auction. The erstwhile high fee earning consultants involved need a standing ovation for running the most successful auction ever where NO bidder (other than the owner of the League) turned up for the second most popular sport in India. But who will hold anyone accountable? It's disappointing that by selling off a great Indian sport to a global media company the true potential has been capped forever," Screwvala said in an e-mail response to Sportstar.
Despite the huge success of PKL, the team owners faced losses in the first seven sevens earning just INR. 6.5crore per season from the broadcasting rights of the league. The e-auction this year was supposed to put an end to the teams' misery, but it was not to be.
Star India had earlier offered each team INR. 15crore per season, but the INR. 905crore deal with Mashal Sports for the broadcasting rights of the league means that each team would get only INR. 12crore per season.
This situation has led to unrest amongst the current team owners in the league. Further, with Star India owning a 74% stake in PKL, the teams have raised a conflict of interest issue as well.
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