Los Angeles, CA (PRWEB) March 27, 2013
High-profile celebrities are investing in American Football—in India. With a stated goal to improve the economic conditions of underprivileged youth, the Elite Football League of India is moving forward with a humanitarian mission backed by unprecedented revenue potential.
In June 2011, Morgan Stanley Smith Barney published a report citing that the emerging middle classes in China and India are poised to force a shift in global consumer spending, with India expected to overtake the U.S. in middle-class spending in 2021. In 20 years, India is expected to account for more than 23% of the projected $55.7 trillion in global middle-class consumer spending.
A rapidly growing population and a string of economic reforms in the past two decades are the key factors in India’s surge in consumer spending. McKinsey and Company projects a compounded annual growth rate of 7.3% for India's real GDP from 2005 to 2025. McKinsey also expects that real household disposable income will almost triple over that 20-year period. If the trends continue, aggregate consumption in India should increase fourfold, growing from 17 trillion Indian rupees in 2007 to 34 trillion in 2015 and 70 trillion by 2025.
Paid media is expected to receive some of this consumer cash. India boasts of the second-largest television market in the world with 148 million TV-owning households, which is 27% larger than the US market. PricewaterhouseCoopers projects that the Indian TV market will grow 18% per year from 2012 to 2016, and revenues from pay television and cable and satellite revenues are projected to reach $11 billion by 2011 and $16 billion by 2015.
EFLI hopes to garner some of this television viewership in what is estimated to be a $100 billion competitive sports market. EFLI, through a partnership with Ten Sports, will be telecasting season two live beginning with a kickoff event on New Year's Eve in Kolkata Stadium, the second-largest stadium in the world. They are poised to break the record for the largest sports event with 117,000 spectators. Considering that over one billion people watched India play Pakistan in the semi-finals of the Cricket world cup in 2011, these numbers are conservative.
The NFL, valued by Forbes at $35 billion with an annual revenue approaching $10 billion, receives a large portion of its funds from television networks. And while official data is not available, the American college football market is estimated to add additional billions. What EFLI hopes investors will see is that because EFLI is the sole provider of both professional and college football in India, the revenue potential for televised football in India is staggering. For more information, see the video accompanying this press release on the business of football.
Investors are coming on board not only because of the potential economic return but also because of EFLI’s stated mission to improve the quality of life of underprivileged youth in India. When asked what motivated him to invest in the league, actor Mark Wahlberg said: "I believe we will be able to use the great game of football to truly impact the people of India, both on and off the field, and help many to improve on their quality of life." By bringing together the East and the West in alliance to eliminate poverty throughout the globe, EFLI hopes to make the impossible a reality through peaceful, healthy competitive play.
EFLI has planned on filing a public offering from day one, and the rumor is that this will happen sometime in the near future.
The Elite Football League of India, or EFLI, is a professional American Football league in India, Pakistan, and Sri Lanka. The league boasts of eight teams that will be broadcast in 2013 by Ten Sports to 17 countries with a potential audience of 170 million homes. Games are modified for the Indian television market under the guidance of Sandy Grossman, former Fox Sports Director of 10 Super Bowl games. Ed Goren, former Vice Chairman and President of Fox Sports Media Group, serves as a Member of our Board of Directors and adviser to EFLI senior management.