StaffThe Punit Balan Group secures ownership of the fourth PHL franchise.
The Premier Handball League (PHL) on Tuesday announced Maharashtra Ironmen as the fourth team for the much-awaited inaugural edition of the franchise-based league. The team from Maharashtra is owned by Punit Balan of the Punit Balan Group.
The Punit Balan Group, valued at around INR 3500 crore, is headed by Punit Balan, a young and dynamic entrepreneur and philanthropist who is also one of the few new-age sports investors.
Passionate about Olympic Sports and owner of teams across various sporting leagues, Punit Balan has earned himself a reputation for his intellect and sharp business acumen. He is also being recognised as a visionary who has investments across the field of sports, entertainment and real estate.
Manu Agrawal, CEO, Bluesport Entertainment Pvt. Ltd, commented:
“Having stakeholders who are equally passionate and have a vision for Handball in India is a perfect combination for us at PHL. We are delighted to welcome Mr. Punit Balan and the Punit Balan Group on board and believe that this partnership will not only help in restoring the rich sporting legacy of Maharashtra but will also enable the sport of Handball to be developed into a commercially viable product in Maharashtra where the sport is already popular.”
An avid sports enthusiast and youth icon, Punit has made notable contributions through the Indrani Balan Foundation for financial sustainability of Army Goodwill Schools and Parivar School Society in Jammu & Kashmir. Sports is an essential part of Maharashtra’s culture, and now, working along with the PHL, Punit will look to give a further boost to handball in the region and take the sport to the next level.
Balan also owns teams across various sports leagues, including in the Tennis Premier League, and also has an investment in a sports employment startup.
Punit Balan, CMD Punit Balan Group, commented:
“I have always believed in strategic alliances with competitive and dynamic partners to bring about change and growth. Handball is one of the most exciting games with a unique combination of speed, agility, technique, skill and teamwork and enjoys a great following in the western market. I believe that if promoted and supported well, it will enjoy the same popularity in the Indian market as well. Additionally, being an Olympic sport with a majority of the players coming from the armed forces, Handball becomes a natural choice for our group. Through PHL, we will look to transform this new-age sport.”
Bluesport Entertainment Pvt Ltd—exclusive licensee of the league under the aegis of Handball Federation of India—had earlier launched three teams: Garvit Gujarat, Golden Eagles Uttar Pradesh and Rajasthan Wolverines. Maharashtra Ironmen will be among the six teams to feature in the inaugural edition of the PHL, which is slated to take place later this year and looks set to revolutionise the Indian handball scene and give it a complete makeover.
