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EXCLUSIVE: Recognising the potential of HIL, JK Group decided to invest and support its growth – Mr Madhav Singhania, JMD & CEO, JK Cement Ltd. & Co-founder of Yadu Sports

Mr Singhania discussed a variety of subjects, including business initiatives to ensure the team's financial success and sustainability, top names providing greater marketing opportunities, and more.

The Hockey India League (HIL) team, UP Rudras have had an impressive start to their campaign as they have registered five wins from eight games yet and are sitting comfortably at the top of the standings.

Hardik Singh, Lars Balk, and Lalit Yadav are among the key players on the UP Rudras’ squad, and they have all contributed significantly to the team’s present standing in the rankings. This undoubtedly demonstrates that UP Rudras have performed well in the auction, making important strategic purchases that have strengthened their team for the campaign.

To know more about the team’s commercial performance, SportsMint Media reached out to Mr Madhavkrishna Singhania – Joint Managing Director and CEO, JK Cement Ltd., and Co-Founder of Yadu Sports.

In a brief chat, Mr Singhania discussed a variety of subjects, including business initiatives to ensure the team’s financial success and sustainability, top names providing greater marketing opportunities, and more.

1. What were the key discussions that took place before acquiring a team in the Hockey India League?

As a family, we are deeply connected to the legacy of our 140-year-old organization, the JK Group. We strongly believe in the positive impact that sports can have on communities. We have witnessed firsthand the transformative effect the IPL has had in our country, and when we learnt about the relaunch of the Hockey India League this year, we saw a significant opportunity. If there’s any sport that evokes the same emotional connection in India as cricket, it’s hockey.

Recognising the potential of the HIL, we decided as a family to invest in the sport and support its growth. The collaboration of franchises in creating a platform like the HIL provides an incredible opportunity for top global talent to compete alongside the youth of India. It allows them to experience diverse playing styles, techniques, strategies, and formations from around the world, fostering a richer, more dynamic environment for the sport.

2. What important business efforts has the team taken to secure its financial success and sustainability?

Any league takes time to become financially viable. If we look at the IPL as an example, it started with basic numbers, and the original teams took a long time to break even. The revenue streams—ranging from broadcasting to sponsorships and even merchandising—took time to fully materialise. These are the primary revenue streams that drive the success of any league. In the case of the Hockey India League, the structure is similar. Each franchisee pays a franchise fee to Hockey India, which is then used to create high-quality production and to market the league effectively. Unfortunately, this year, being the first edition of the relaunched league, things moved faster than anticipated. As a result, some of the planned initiatives couldn’t be fully realized as envisioned. Additionally, it took some time to secure a broadcaster, which further delayed the process.

The broadcaster came on board just two to three weeks before the league started, so the financials for this year aren’t ideal. However, I anticipate that it will take us about five years to break even. We will review the progress next year to assess how things are unfolding. Initially, we expect sponsorship revenue to be a key source of income, and as viewership increases, broadcasting revenue should grow as well. Building a strong fan base will take time, and merchandising revenue will likely come further down the road.

As for ticket sales, the league has been free this year with the goal of attracting more people to the stadium. That strategy has worked to some extent, as it has successfully brought in a larger audience.

3. How are you managing operational costs while ensuring strong marketing and sponsorship strategies for UP Rudras?

This year, most teams have largely supported the financials, but that was primarily due to the limited time we had. Going forward, I believe the Hockey India League has great potential. It’s a strong product and presents an exciting opportunity for other brands. Beyond cricket, the other major option for investment today is the Pro Kabaddi League (PKL). However, the IPL has become increasingly expensive for many brands, and the returns on investment are getting harder to justify. As a result, brands will begin exploring alternative opportunities, such as the Kabaddi League or the Hockey India League. These are two or three properties that have the potential to become viable, alternative investment destinations for these brands.

4. How significant is having such well-known players on your team from a commercial standpoint?

When you look at the squads today, it’s nearly impossible to pick the best team in the league because any team can beat any other on any given day. That’s the unpredictability we’ve seen so far in the league. We’re fortunate to have three of the best coaches in the world on our team. Our head coach is Cedric D’Souza, who not only played for India but also coached the Indian team and is currently coaching the Austrian national team. We also have Paul Van Ass, the current coach of the Netherlands women’s hockey team, and Thomas Tichelman, who has coached the Netherlands women’s team as well. These three are world-class coaches, and Cedric has recently taken on the role of team director, but all three have been instrumental in shaping our coaching structure.

As for the players, we have some exceptional talent. Our team represents six different nationalities. For example, our goalkeeper, James Mazzarello, originally from Goa, now plays for the England team and has been a key find for the Hockey India League. In fact, he’s now England’s first-choice goalkeeper, and he’s a crucial asset for both his national team and our league. We also have Sam Wald, one of England’s top forwards, and Hardik Singh, the vice-captain of the Indian national team, who is a top midfielder. In addition, we have talented young players like Lalit, who hails from UP and is a star for us, helping to build our fan base there. Then there are emerging stars like Sudeep Chirmako, Manmeet Singh, and Gurjot Singh, all of whom are just 19 years old and could be the next big names in Indian hockey, following in the footsteps of players like Harmanpreet and Jarmanpreet.

It may take time for some of these players to become superstars in India. For example, Harmanpreet only became a household name after his stellar performances at the Olympics. Similarly, it may take time for more Indian hockey players to gain widespread recognition. However, as the sport gains more exposure, I believe it will have a cascading impact, helping to grow the sport and bring more stars into the spotlight.

5. How do you believe the Indian team’s recent triumph will affect the Hockey India League in the coming years?

The HIL will play a crucial role in India’s journey toward winning a gold medal at one of the upcoming Olympics, whether it’s 2028 or 2032. The league creates a platform for Indian talent to compete with the best players from around the world, helping them build confidence and reducing the fear of representing their country on the biggest stages. The impact of events like the World Cup or the Olympics on the HIL will be significant. As India’s performance in these prestigious tournaments improves, it will have a cascading effect, boosting the fan base and viewership for the HIL as well. It’s a two-way street. To answer whether it’s too early to expect a return on investment in the HIL, will take time. As India’s national team continues to perform better, more people will reconnect with the sport. The emotional connection to the team will only grow stronger, and as fans see their heroes perform on the global stage, they’ll be more eager to watch them in the HIL, creating a stronger fan base for the league.

6. What strategic advantages do you see in having your brand logo on the front of your team’s shirt?

Displaying our brand logo prominently is a matter of great pride for us. There was considerable discussion about what we should do if we found a buyer for the brand’s front. Should we sell it, or should we retain it? Ultimately, it’s about pride in having our brand associated with such a prominent platform. It does a lot for our reputation, as it signals to our channel partners that we support sports at the grassroots level. Additionally, our influencers—such as painters, contractors, and other associates—often come to watch the matches, and this serves as a great engagement opportunity for them. It’s not only about branding, but also about fostering a deeper connection with our partners.

We’ve also recently acquired a cement company in Odisha called Toshali Cement. As hockey has a massive following in Odisha, this sponsorship helps us strengthen our brand presence in the region and connect more with the local community.

7. What do you think about players, particularly those from remote areas, getting high salaries through the Hockey India League (HIL)?

My view is that the biggest impact of these leagues is that they showcase sports as a viable alternate career path. For me, the most significant takeaway is that players are now receiving decent earnings from these leagues. In India, there’s often a mindset where parents push their children toward stable career options, and sometimes sports doesn’t seem like one of those. However, with the creation of leagues, we now have eight teams, each with a squad of 16 to 20 players—meaning around 160 players, with at least 100 of them being Indian—who are earning substantial paychecks. This creates an opportunity where, even if someone doesn’t make it to the national team right away, they can still pursue a career in sport, hone their skills, and potentially represent their country in the future. It’s solidifying the idea that sports can be a legitimate and rewarding career choice, and giving these players the platform to succeed.

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