MUMBAI: The Poker Sports League is set to return for a second season with ten franchises, and an increased prize kitty of Rs 36 million.
PSL will this year hold auctions for two new franchises. The original ten franchises have been locked in for the next eight years with a commitment to spend Rs1.5 billion. The prize money in the first season was Rs 15 million.
Dabur India vice chairman Amit Burman, co-owner of the league, told the Economic Times, “In the first year, franchisees had paid Rs35 lakh (Rs3.5 million) as fee. We have increased the franchise fee to Rs 57.5 lakh (Rs 5.75 million) this season and it will increase year-on-year. By the fifth year, they will pay over Rs 1 crore (Rs 10 million) each.”
“The first season was only a trailer of what is set to become India’s first and credible and fully carved out poker league. We received a sizeable response from both aspiring players and corporates last season, he told ET.
Burman, who has invested in PSL in his personal capacity, added, “All the team owners have decided to continue their association and we have signed ten franchises for the next eight years.”
PSL is co-owned by Burman, Anuj Gupta (founder of poker portal Adda52.com) and Pranav Bagai (founder of India Poker Legend).
Delhi Panthers, owned by Rishi Kajaria of Kajaria Ceramics, had won the inaugural tournament, which had seen participation from 11 countries.
Picture courtesy: Gulf Times
