Nagarjuna New Business with Sunny

King Nagarjuna is more known as an actor and producer for film industry but he is a superb businessman with many investments made in other fields. One such is the sports arena. He owned Super Bike Mahi Racing Team with Indian Cricket Team Captain Mahendra Singh Dhoni some time ago for participating in Motor Racing Circuits. Now, the new investment of Nag is in Mumbai Masters, the Mumbai Indian Badminton League (IBL) franchise.

Along with Nag, the other two who are the share holders in this venture are cricketer Sunil Gavaskar and Chamundeshwarinath, president of the Hyderabad District Badminton Association. Consortium of these three has bought the ownership rights of Mumbai Masters., told this newspaper on Wednesday. Now, the franchise will head for an auction on July 22 in New Delhi where they have to buy 11 players with a base price fixed for $ 25, 000 and franchisee will have Rs.1.5 Crores cap to purchase the players for their squad. 

Prize money announced is Rs.5 Crores while battle starts with best of five matches, one each in men’s singles, men’s doubles, women’s singles, women’s doubles and mixed doubles. Telecast rights are sold to Sony TV and franchisees are offered 60 per cent of local ticketing revenues.