Tech Mahindra plans to add four more teams to global chess league

Tech Mahindra, a joint venture (JV) partner in Global Chess League (GCL), plans to expand the franchise-based league by adding four teams in the coming years as many foreign and Indian companies are interested in investing in the league.

The IT services company has launched GCL in a JV with the International Chess Federation.

The first season of the GCL has six teams which are owned by Ronnie Screwvala-owned U SPORTS, Insurekot Sports, Punit Balan Group, Triveni Engineering & Industries, Tech4Billion Group and APL Apollo-led SG Sports.

Tech Mahindra chief strategy officer Jagdish Mitra, who is also the chairperson of GCL board, told ET that there has been interest from foreign owners extensively from private equity firms in US to owners in Europe.

“There was a huge demand for us to expand the league in the very first year, which we didn’t want to do. So, as year 3 comes, which is where six will become eight, and year five, when eight will become 10, is when you will see national teams come together,” Mitra said.

Stay connected with us on social media platform for instant update click here to join our T witter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Sports News Click Here

Read original article here

Denial of responsibility! Rapidtelecast.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.