MTV will be the official broadcaster for the Indian Poker League. Viaan Industries, the Match IPL owners, have inked a three-year deal with the entertainment broadcaster.
What makes the league, first in India to be ratified by the International Federation of Poker, opt for an entertainment genre broadcaster rather than a sports channel. Raj Kundra, the brain behind the league, says that “We feel that Poker is very much popular within the youngsters in India and thus we have signed up with MTV. It is a 3-year contract, as of now,” Kundra said.
The league on Tuesday also formally signed the contracts with all the eight franchisees. Mr Kundra had revealed the list of the franchisees in an exclusive interview with Insidesport earlier.
Each franchisee owner needs to pay a one-time franchisee fee of INR, in addition to an annual license fee of INR 50 lakh per year. The league is created on a commercial model that ensures certain returns for the franchisees. The winners end up making profits in Season One itself.
“Franchisees can seek revenues in multiple areas. The team jerseys have five spots for sponsors’ logo. This is a televised event. The franchisees can get anything from Rs 10 lakh to Rs 25 lakh from the advertisers. Then, there is another avenue from offline and online tournaments. There is a prize money of Rs three crores. The winner gets Rs 1.5 crores. The franchisees get 10% share from the app revenues. Besides, 60% share of the Match Poker central revenue goes to the team owners,” says Kundra.
The winning team will officially represent India at the Poker World Cup.