Subrata Roy stadium, Pune: Sahara's support for Indian cricket
The Maharashtra Cricket Association (MCA), the governing body for the sport of cricket in the state of Maharashtra, has announced a multi-million dollar agreement with conglomerate Sahara India Parivar for the naming rights to the under construction cricket stadium at Gahunje village.
- (1888PressRelease) May 31, 2011 - "The RP207 crore-bid (US$45.5 million) is the first and the highest received for any kind of sporting facility in the country from a private ownership," said MCA president, Ajay Shirke. "One of the major challenges for the MCA was to secure financial closure of the project since such a large investment was beyond the reach of the association. This big completes and secures the closure of the financial package required for phases one and two of the stadium and club."
Sahara India Parivar, the company that owns the IPL franchise Pune Warriors, outbid two other parties to acquire the naming rights to the stadium with a bid of US$45.5 million, however, because rules in place did not permit the naming of the stadium after any corporate brand or company Sahara instead chose to name the stadium after its chairman and managing director, Subrata Roy. As such, the stadium will be officially known as the Subrata Roy stadium, Pune.
ICC president, Sharad Pawar, added, "I have seen most stadiums in the world and I have no reservations in saying that this one will be one of the best. The work will be completed in record time. The stadium will be owned by MCA and all matches except IPL will organized under the authority of MCA. I congratulate Sahara for supporting Indian cricket."
In March 2010 Sahara Group, bought the IPL franchise Pune Warriors with a bid of US$370 million. In addition to the naming rights announcement it was revealed that, once completed, the new stadium would serve as the home ground to the Pune Warriors.
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