IMG-Reliance is one of the three companies to submit bid papers for the proposed boxing league by the Boxing Federation of India. Monday, September 11, was the last date to submit bids.
The BFI has received three interests for the commercial and organizing rights of a professional boxing league. Gurgaon-based sports management company Sportz & Live Entertainment and Lakshya Media Group are the other two companies to submit their bids alongside IMG-Reliance.
The federation secretary-general Jay Kowli confirmed to the insidesport.co the receipt of three bids. “IMG, Lakshya Media and Sportz Live have tendered their bids. The technical bids are being scrutinised. The process will take some time before we open the financial bids,” said Kowli.
The federation, citing business with the AIBA World Championships, had extended the tender procedure by a month. However, in spite of a one month extension in the whole process, there has been a subdued response.
The BFI first floated the tender documents in the last week of July. The bids were scheduled to be opened on August 16, but a day before that the federation made an announcement to defer the entire procedure till September 11. Even as the federation had then officially claimed that there have been 54 queries regarding the bid, sources in the BFI had confirmed that the bid procedure is delayed because of an extremely poor response.
However, now an interest from IMG-Reliance, one of the top corporate in the business of sports, has come as a shot in the arm for the boxing federation.
The successful bidder will get the right to organize and commercially exploit the boxing league, officially sanctioned by and under the banner of the national federation, for a period of ten years.