Nazara subsidiary acquires Mumbai franchise in Indian Pickleball League

New Delhi, Nov 12 (PTI) Absolute Sports, a subsidiary of Nazara Technologies and the parent company of Sportskeeda and Pro Football Network, has stepped into the rapidly growing global sport of pickleball with the acquisition of the Mumbai franchise in the Indian Pickleball League.

With exclusive rights to the Mumbai territory, Absolute Sports will build and operate the team, including its digital identity, brand, website, social channels, athlete marketing, and fan engagement programs.

According to a release, the franchise strengthens Absolute Sports' mission of bridging digital fandom with on-ground sporting experiences and aligns with its expansion strategy into high-growth sports ecosystems.

The franchise agreement has been entered into between Absolute Sports and PWR Indian League and Tour Private Ltd, Nazara said in a BSE filing.

The company said the deal entails "annual non-refundable franchise fee up to an amount not exceeding Rs 5 crore and subject to an annual escalation of 8 per cent for each subsequent season/year".

Rising in popularity, pickleball is one of the world's fastest-growing sports, and as per some estimates, the market is globally projected to expand to USD 4.4 billion by 2033, from USD 1.5 billion in 2023.

"In India, participation has surged 159 per cent between 2019 and 2022, driven by increased adoption across sport, fitness, and community recreation centres, the release said.

The launch of the Indian Pickleball League is seen propelling the sport into mainstream fan culture and open meaningful commercial opportunities across media, merchandising, and grassroots engagement, the release said.

"With the Asia-Pacific region projected to be the fastest-growing pickleball market through 2029, this move positions Absolute Sports and by extension, Nazara Technologies -- at the forefront of a new and rapidly scaling sports category," the release added. PTI MBI TRB