Telugu star Vijay Deverakonda picks up a minority stake in the Prime Volleyball League team

Telugu star Vijay Deverakonda has picked up a minority stake –little under 10%– in Prime Volleyball League team Hyderabad Black Hawks at a $20 million valuation.

This is the first sports investment by Deverakonda, who will also be the brand ambassador for the Black Hawks.

Abhishek Reddy Kankanala, the principal owner of the team, said that the strategic investment by the Telugu star will help the franchise broaden its fan base.

“The Black Hawks are more than just another sports team. To all of us who proudly display our Telugu heritage, it is a representative of the Telugu people and a symbol of our spirit and strength. I will do whatever it takes to take our team and our brand to all parts of India and beyond,” Deverakonda said in a statement.

The Prime Volleyball League has eight teams from Hyderabad, Ahmedabad, Kolkata, Calicut, Kochi, Chennai, Bengaluru, and Mumbai.

The inaugural season of the league, which was telecast in English, Hindi, Tamil, Telugu, and Malayalam, garnered 41 million viewers on TV and 43 million viewers on OTT.

The upcoming second season of the league, featuring 31 matches, will be held from February 4 to March 5.In India, it will be broadcast on Sony Sports Network channels Sony Sports Ten 1, 3, and 4, besides being streamed live on SonyLIV.

Internationally, the matches will be streamed by Volleyball World, the commercial arm of volleyball’s global governing body, the Fédération Internationale de Volleyball (FIVB).

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