With a vision to develop the handball ecosystem in India and take the sport to the next level, Bluesport Entertainment Pvt Ltd, the official license holders of the Premier Handball League (PHL) under the aegis of the Handball Federation of India (HFI), has announced a mammoth investment of INR 240 crore. The company has also disinvested shares and onboarded entrepreneurs Vivek Lodha and Abhinav Banthia as their strategic investors.
The company 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.
“Investment as well as having the right people as partners is key to developing any sport. 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. The business acumen of Mr Vivek Lodha and Mr Abhinav Banthia and our vision to revolutionise this fastest Olympics sport in India under the guidance of the HFI are some of the reasons that ensured the board to go ahead with this investment,” said Manu Agrawal, CEO and Co-Founder, Bluesport Entertainment Pvt. Ltd.