In an era when Indian football is synonymous with being a commercial black hole and lack of proper investment being seen as the reason for the failings of the sport and lack of viewership interest in the nation, FidelisWorld is a brave corporate player who could prove to be the face of redemption for the under-developed sport in the country. Founded in 2010 and based in UAE, FidelisWorld is a company which aims to integrate sports and entertainment through prodigious use of media and promotion, with interests lying in the Indian subcontinent, South East Asia and the Middle-East. FidelisWorld also happens to the majority stakeholder in the I-League second division club United Sikkim FC, which is co-owned by Indian football sensation Bhaichung Bhutia and singer Shankar Mahadevan, thus setting a positive trend for corporate houses to invest in Indian football in future in a mission to turn the commercial black hole into a profitable market.
Sportskeeda’s Harmit Kamboe sat down for an interview with the CEO of FidelisWorld, Mr. Navneet Sharma, to understand the reason for the corporate company’s interest in Indian football and its plans of raising the game in the country.
Please tell us about FidelisWorld. When was this company formed and what does it do?
Formed at the end of 2010, FidelisWorld is a new entrant to the sports, entertainment, media, and arts sectors with a focus on the Indian Subcontinent, South East Asia, and Middle East. We aim to consolidate the fragmented sectors into a consolidated whole in the target market, thereby achieving synergies and building value.
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Founded on strong values which manifests as clean corporate governance, fairness in the marketplace, and societal enhancement, the organization offers expertise through its experienced management team and will enter the market through verticals targeted particularly for the ability to derive synergies between the various operations.
Our aim is to seamlessly integrate sports and entertainment through the use of media, cross-promotion, co-location, and acquisition, thus becoming the pre-eminent player in the spheres of sports, entertainment, media and arts. A fund structure will evolve in key verticals providing investors, customers, and clients a clear path to build value.
How does owning a football club in India fit in with the corporate objectives of FidelisWorld?
FidelisWorld believes in the growth story of football in India due to the underlying potential of the Indian economy itself and the recent changes in the Indian football scene. Football presents a perfect avenue for FidelisWorld to pursue its goals of merging sports, entertainment, and media in a manner previously unseen in the Indian market. Our focus is on sports, entertainment, and media in the Indian subcontinent, Southeast Asia, and the Middle East, and hence football in India is a natural piece to that puzzle.
In the words of our Executive Chairman, Anand S. Krishnan, “This is our first initiative in Indian football. With the immense growth exhibited over the last five years in the Indian sports sector, FidelisWorld feels there is great potential for football to become the number two sport in India.”
How much of United Sikkim Football Club does FidelisWorld own? What made your company decide to invest in football, a sport that in India has so far been a commercial black hole?
USFC is co-owned by FidelisWorld, Bhaichung Bhutia, and Shankar Mahadevan, and is an active collaboration between these parties. Each brings significant strengths to the table and the synergies are greater than the sum of the parts. We decided to invest in Indian football because of the reasons shared above, as well as with the honest belief in our intention to do things differently in a way never before seen in Indian football and deliver value to investors, customers, players, and fans.
Outside of small pockets in Bengal, North East, Goa and Kerala, do you think the average Indian sports fan really cares about Indian football? What do you plan to do differently at USFC when it comes to other football clubs in India?
These are not small pockets; they represent large swaths of the Indian population. Furthermore, it is not football itself that is not popular. As a resident of an Indian metro, why not support a team like United Sikkim instead of a Manchester United? Of course, it is a question of quality, so as Indian football increases in quality, it will increase in viewership. It is this quality which we aim to raise by showing corporate interest and bringing in investment.
Being a corporate player, how do you intend to make this venture commercially viable? Two of the largest revenue sources globally (TV rights and player transfer fees) are non existent in India.
Football in India is emerging sport and we feel avenues for revenue generation will open up as the Indian football market expands and develops. With the positive changes happening in Indian football of late, we expect this to happen sooner rather than later.
Are there other sporting businesses that your company will be looking at apart from USFC?
FidelisWorld is an active payer in sports throughout the region. While our model means that we are constantly looking out for opportunities, we are fully committed to the development and success of United Sikkim Football Club.
Thank you very much for speaking with us. On behalf of Sportskeeda, we wish you the very best of luck and sincerely hope that you succeed in your mission.
(To know more about FidelisWorld, please visit www.fidelisworld.com)
