Subhash Chandra's Essel Group geared to enter cricket business at global level, Lalit Modi not involved

New Delhi: It looks like Subhash Chandra-led Essel Group is once again gearing up to enter the cricket world again. The company says it is excited to enter the sports business at a global level, focusing on Cricket, since it has been limited to Commonwealth Countries.

In an official statement released on Monday, the company said according to its research, there was an immense opportunity to make Cricket a global sport.

"Essel Group has been analyzing the sports market and the reports reflect an extremely positive trend, indicating our nation as a sports-loving nation, than just a cricket-loving nation. Our nation has produced several sports heroes in the realm of badminton, tennis, wrestling, golf, air rifle, etc. that have earned significant reputation not only for themselves but also for India. In order to enhance the overall sports business, we look forward to the entry of other Indian business houses as well," the statement said.

However, ending all speculations, the statement clearly said that Lalit Modi, the founder of the Indian Premier League (IPL) wasn't linked to their new initiative in any manner.

"We would also like to clarify that, Lalit Modi has no linkage whatsoever with Essel Group in this initiative. Essel Group is independently taking up this initiative on its own accord," it said.

The statement also described how the company was committed towards the development of Indian sports.

"Essel Group is a large business conglomerate with business interests in media, infrastructure, utilities, manufacturing, financial services, etc. As a business conglomerate, Essel Group is constantly developing new businesses that fit into the company’s ethos. Essel Group takes immense pride in being the pioneer to grow and develop the domestic cricket market in India, with the launch of Indian Cricket League way back in 2007. Indian Premier League followed the footsteps of Indian Cricket League. Essel Group also owns the Mumbai Football Club for the last seven years," it said.

The statement also refuted a recently published story which said Ten Sports Network had been registering certain entities, pertaining to Cricket as a sport.

"A recent media story, has falsely reported that Ten Sports Network has been registering certain entities, pertaining to Cricket as a sport. We would like to clarify that the same is not true, since Ten Sports Network has no connection to this initiative, it being a sports network owned by Zee Entertainment Enterprises Ltd., a publicly listed company on Indian stock exchanges. Ten Sports Network holds the broadcast rights for five major cricketing boards namely South Africa (CSA) , Zimbabwe (ZC) , West Indies (WICB), Sri Lanka (SLC) & Pakistan (PCB) and many other premier sporting events like UEFA Champions League, US Open and WWE. It is a dominant player in the cricket broadcasting and production arena," the statement said.