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The Basketball Federation of India (BFI) has signed a seven-year deal with ACG Sports Limited, with a guarantee of Rs.216.30 crore for hosting the National Star Basketball League for men and women.
Addressing the media here on Friday, the president of BFI, Aadhav Arjuna said that for each year, the amount would be Rs. 20.6 crore rupees for the 5x5 format and Rs. 10.3 crore for the 3x3 format.
“It was a transparent system, and we gave it to the highest bidder. It is a medical group of companies, and has already been associated with supporting basketball through many events,” said the BFI president
“It is a new beginning for Indian basketball. We hope to pay substantial money to our players. We call all the big corporate companies and sponsors to invest in the league and make it a success,” Arjuna said.
“We will host both the men’s and women’s leagues. The BFI would hold 100% ownership of the league so that we put the revenue generated back into the game for our developmental projects,” he said.
It was stated that about 100 Indian players would stand to benefit from the league, which would also feature about four foreign players in each team.
“We call all the players and coaches, to be ready, and to be fit, for the new journey,” said Arjuna.
The league is expected to feature 10 men’s teams, and eight women’s teams.
While the 5x5 format is expected to be played in stadiums, the 3x3 format could be staged on the beach, parks and malls so as to take the game to the people.
The BFI president also said that he had an extensive tour of the USA to collaborate with the NBA for the betterment of Indian basketball.
“We already have Scott Flemming for the men’s team. We will soon have an American coach for the women’s team and an American fitness coach also,” he said.
Some of the money generated from the league is expected to be invested in making world-class infrastructure for Indian basketball.
“In the USA, even colleges have a world-class stadium,” said Arjuna.
The secretary general of BFI, Kulvinder Gill said, “Now Indian players can take up basketball as a career. We have enough talent in the country to nurture and build.”
The details of the teams, structure, venues and fixtures are expected to be announced in a few weeks time.
