When IPL started in 2008, nobody thought before that this league would bring so much business in India. It started a new stream of business in Sports and the concept of Leagues and Tournaments in India. A few years later, different other sports followed the IPL and started leagues like IPTL for tennis, ISL for football and Pro Kabaddi in India. The other leagues are still trying to bring themselves closer to IPL in terms of popularity and revenue as IPL have achieved a lot in past 8 years. But a new trend started and it gave a promising boom to the sports industry.
The question that arises in a business men’s mind is that if it’s the right time to start a business in sports? There are multiple sports ventures that have started or starting up in sports which make things look easier in the present era. The people are ready to take a risk and do things which they love rather than following the tradition. But things aren’t that simple as it looks.
If we take a closer look of the sports companies that are currently doing well, the first name that comes to the mind is of IMG (International Management Group). IMG is the management company that organizes IPL every year. It is a global sports, other events and talent management company headquartered in New York.
Along with IMG, we have many famous sports management companies like IOS Sports and Entertainment which manages the star Indians boxers Vijender Singh, Sushil Kumar and Mary Kom. Saina Nehwal also recently signed a deal with IOS along with cricketer Suresh Raina. Percept and Procam are other powerful sports companies which are doing well in India.
Considering Procam as an exception, the rest of the companies that have been mentioned are not solely sports management companies. They are basically media, entertainment companies which eventually grew their roots in sports management industry. These companies are involved in organizing all types of events and managing celebrities belonging to entertainment and sports field. It was their passion for sports or the increase in demand of sports management that made them open a new sports division in their company.
Let’s bring our focus on the investors and the owners of different leagues and tournaments that are happening in India. The majority of them are either businessmen or belongs to the entertainment industry and had a passion for sports which made them join different leagues as sponsors and owners. But they are not exclusively into sports field. It’s either for 2-3 months to get a break from their traditional business or to enjoy and get the adrenaline rush for some time that brought them associating to sports leagues.
The question to think is that in spite of having many passionate sports people around; they still feel insecure about considering sports management as a full-time venture. There are multiple sports management companies that exist in different parts of the country which had been started by sports freaks. But all these people do have businesses in other fields which provide them security and keep their business moving. The sports management professionals who work in these companies or leagues also have other jobs which provide them decent money to live. But they currently don’t expect the same amount of money from their sports jobs or businesses.
It looks that business minded people still feels that it’s too early to spend all their time and energy into a sports venture in India. It might be their fear of completely getting into a new field altogether or their insecurity related to money. But the way, India is progressing well in sports field when it comes to managing big sports events or athletes performing well in different sports; this fear would end soon and so does the insecurity.
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