Nagpur: A month after the Basketball Federation of India (BFI) launched India’s first professional league titled the National Star Basketball League (NSBL), in both 5×5 and 3×3 formats, the BFI signed a seven-year and 216.3 crore deal with ACG Sports Private Limited.After the tender process that commenced on May 27, the financial bids were opened in New Delhi on Friday. ACG Sports, a wholly owned subsidiary of ACG Associated Capsules Private Limited, won the bid to be the Organizing Partner for India’s first professional league to be conducted in both 5×5 and 3×3 formats for men and women.As per the financials of the bid, ACG will spend a total of 216.3 crore for a period of seven years. The yearly spend on the 5×5 format will be 20.6 crore while 10.3 crore has been kept for the shorter version of basketball played in the 3×3 and half-court format. An yearly amount of 30.9 crore will be invested by ACG Sports — a subsidy of the pharmaceutical industry.Karan Singh, managing director of ACG, has been a basketball player and is involved in promoting the sport for over a decade. With the NBA, the ACG had started a talent hunt initiative in India. It is learnt that the tie up of BFI and ACG was a move initiated by Maharashtra’s senior administrator M Venkatesh.President and secretary of BFI Aadhav Arjuna and Kulvinder Singh Gill handed the Letter of Approval to ACG Sports CEO in New Delhi on Friday.Aadhav Arjuna, who is also chairman of NSBL, said, “I am thrilled to announce the commencement of an exciting new chapter in Indian basketball history — the establishment of the National Star Basketball League by the Basketball Federation of India (BFI). As the president of BFI, it brings me immense pride to introduce this groundbreaking initiative that aims to revolutionize the landscape of basketball in our country.”Former judge of Supreme Court of India, justice S Ravindra Bhat, conducted the tender process. The other members of the league include Chengalraiya Naidu, Teja Singh, Ashok Kumar Sahu, Shakthi Sinh Gohil, Norman Isaac and Dr V Ragothaman.In addition to NSBL, where international players will be in action, the BFI will also organise National U-23 Pro league for men and women, and the National College, School leagues for boys and girls in both the half and full court formats.In July last year, when Arjuna became the president of BFI, the national federation started efforts to elevate the standard of basketball in India. The national league aims to provide India’s elite basketball players a platform that not only offers exposure but also significantly enhances their career prospects.In addition to the national championships in various age categories, the NSBL is poised to become a cornerstone of the basketball calendar, showcasing the best talent across the nation. With ACG Sports at the helm, the league is set to deliver an exceptional experience for players and fans alike, fostering the growth and development of basketball in India.
BFI gets ₹216cr ACG boost for India’s first professional basketball league – Times of India
