Delhi, India: Racing Promotions Pvt. owners The Indian Racing League, a city-based motorsports league that just finished its first season and is owned by Ltd., plans to invest approximately 150 crores over the next three years to further develop the league’s infrastructure and market it throughout the nation. Akhilesh Reddy, director of the infrastructure firm Meil Advanced Technologies Pvt., is an infrastructure magnate who provides financial backing to the racing company.
Ltd (MEIL), which owns RPPL’s majority stake. Dabur director Mohit Burman likewise has a minority stake of around 5% in the association which he has put resources into his own ability. Racers Aditya Patel and Armaan Ebrahim, who are also co-founders and directors of the league, and Abhinandan Balasubramanian, another co-founder, are its other stakeholders.
The street circuit infrastructure or the construction of race tracks on the ground received an initial investment of 150 crore rupees from the investors. Electronics, safety gear, and other investments totaled 60 crores, Additionally, the season’s operational, event, and marketing costs totaled 50 crore rupees. It has set aside an additional 50 crore rupees for operational costs for the following season.
Over the following four to five years, the company anticipates a return on investment.
It anticipates earning profits from media rights and sponsorships. It had more than half a dozen sponsors this year, including beverage, tire, lubricant, infrastructure firms, hospitals, and others. ExxonMobil, Kingfisher, Apollo Hospitals, and Redbull are some examples. The league, which was first thought of in 2018 and used to be called X1Racing League. Received a one-million-dollar investment from a group of angel investors, family offices, and early-stage venture firms.
It is organized into six teams, each named after a different city. Such as Hyderabad, Delhi, Bangalore, Chennai, Kochi, or Goa. On Star Sports, the teams competed against each other over the course of four weeks. The association was won by GodSpeed Kochi. Its co-founder Aditya Patel stated that motorsports are not the easiest sports to organize in India, particularly on a large scale.
Patel stated that, with the exception of the Formula E championship. Which is run on street circuits, races are held on official race tracks in the majority of nations. The association was held in two areas in Chennai and Hyderabad. Due to the league’s recent conclusion, we do not yet have television viewership figures. It has been challenging to popularize this sport.
Even if we take the Buddh International Circuit in Greater Noida as an example. It is a cutting-edge facility in a location that makes it difficult for residents of Delhi to visit. Therefore, we needed to spread it widely. We were thinking about street racing. According to Patel, “at the end of the day, this is what the country needs to build interest in motorsports.” The league is four weeks long and has four teams with a mix of Indian and international drivers. The company anticipates making this a five- or six-week program for the upcoming year.
This platform is gender-neutral. In a nation like India, infrastructure presents a significant obstacle for this sport. Importing cars that adhere to safety standards. Which invites a lot of duties, is another part of the story, as is the infrastructure itself, he added. The league also plans to expand its eSports racing, which is a digital-simulator-based racing competition held in Mumbai, Chennai, Pune, Hyderabad, Ahmedabad, and Delhi, in addition to its physical racing.
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