Madison, Selver to hold stakes in PMG

Mumbai, June 11 (UNI) Madison World and Selver Outdoor, major players in communication and advertising service arenas in India today signed a pact with Sunil Gavaskar's Professional Management Group(PMG).

As per the pact inked, Madison and Selver will hold 33 per cent stakes each in PMG.

Set up in 1985, PMG is the first Sports Management Company in India and has tie-ups with major broadcasters like Doordarshan, Star Sports, ESPN, Star Plus, ZEE and Yorkshire TV in airing sports Programmes.

PMG had its current shift in management owing to the exit of Sumedh Shah, erstwhile partner of Mr Gavaskar in PMG who offloaded his stakes in the company recently. Sumedh Shah would continue in the advisory board of PMG.

''The new shareholders will drive the company to greater heights with their understanding and client needs,'' said Gavaskar to reporters here.

A pioneer in conceptualizing the idea of syndicating sports columns in Indian newspapers, PMG also had commenced many prominent awards in sports that include CEAT Cricketer of Year, CASTROL Indian Cricketer of Year and BPL Player of the week.

Madison Chairman Sam Balsara and Selver Chief Noomi Mehta today signed the deal with PMG at a ceremony held here.

Madison owns 11 special communication units in India wherein the services range from media and outdoor to Public Relation, retail and mobile.

UNI