Madison picks up stake in Gavaskar’s PMG
Madison World and Selvel Outdoor Advertising have acquired a 67% stake in Professional Management Group, India’s first Sports Management Company, promoted by former Indian opening batsman, Sunil Gavaskar and Sumedh Shah.
The company was set up in 1985 and was the pioneer in promoting the concept of syndicating sponsored sports columns in leading newspapers, and is presently active in three areas – syndication of columns, organizing sporting events and bringing in sponsorship.
Sumedh Shah has decided to offload his stake, but will continue in an advisory capacity with the company, leaving Gavaskar with the remaining 33% stake.
Gavaskar had this to say…
“Sports management has become a totally different ballgame from the time PMG started. I am sure that the new shareholders will drive the company to greater heights with their understanding of the new environment and client needs. Sumedh was the rock for all of us at PMG and I am glad that he will continue to be available to the new PMG as it takes its first steps in the sporting business world.”
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