KOLKATA, September , 2018 – mjunction, India’s largest B2B e-commerce company, has announced a tie-up with one of India’s leading brands in 360° business of sports – Sporty Solutionz Private Ltd – to provide innovative digital solutions to the global and national sports federations, sports media rights and commercial property owners.
mjunction has created a benchmark with the successful e-auction of the Board of Control for Cricket in India (BCCI) media rights earlier this year. Now, mjunction and Sporty Solutionz will together take the revolutionary technology to the global sports market. The amalgam of the best digital auction solution creators and the professionals with a complete understanding of the complex sports business world will provide complete and customized e-auction and e-sales programmes, which are the future of the multi-billion dollar global sports business.
mjunction CEO Mr Vinaya Varma said, “We will use our long years of experience and robust technology platform to design and customise the best possible fair, transparent and equitable e-auction solution for sports federations around the world. We are confident this partnership with Sporty Solutionz will help us to make deeper inroads into the sporting field.”
“National and international sports federations will be able to finalise the right value for their media rights through a transparent e-auction mechanism designed by mjunction. The e-auction platform will bring in disintermediation, negating corruption charges levelled against these federations, and help them adopt a process that is efficient and transparent,” Mr Varma added.
On the partnership, Sporty Solutions CEO, Ashish Chadha said, it was the best thing to happen to the sports fraternity – from players, associations and administrators to the entrepreneurs and corporate in the business of sports. “Through our combined experience and resources, we will not only help bring transparency in sport world’s commercial eco-system but also ease out the entire rights, tendering and sales processes. Sports has witnessed tremendous technical and digital growth in the performance and presentation aspects of the games. The commercial side of the sports world has somehow lacked in keeping pace with the technology. Sporty Solutionz and mjunction together are committed to fill that void. It will be a continuous process. Our joint aim is to bring in revolutionary tech changes that will not just fulfill the needs of the sports business world, but will lead the digital growth of this sphere from the front,” said Chadha.
Bringing about a digital revolution in the world of sport, mjunction had kicked off FY19 with the first ever e-auction for the Board of Control for Cricket in India (BCCI) to award the media rights for the international and domestic cricket matches to be organized and hosted by the BCCI. The high-tech auction gave to the board better revenues than expected figures, enabled the bidders evaluate their commercials even during the bidding process and above all brought in the much-needed transparency in the entire system.
mjunction and Sporty Solutionz together will be creating a wide range of solutions for all business and trade in sports internationally.
With India steadily becoming a sporting super power, it is time to bring in some novelties that will help the federations and sports bodies to create a strong monetary foothold as well as get into the global market to sustain themselves. “Most federations even if out of aspiration now think in terms of higher monetary worth for them they fall short on the model and tools to fully exploit that potential. Our idea is to help them realise that hidden and unexploited potential in the interest of the sport and the sportsmen,” added Chadha.
In the last 17 years, mjunction has transformed supply chains and processes of some of the most crucial sectors in a nation’s economy – steel, coal, oil and gas fields, foodgrains, ocean vessel chartering and telecom spectrum – to name a few.
Sporty Solutionz, with its vast experience in the field of managing various sports, has added a new dimension to not only help right holders achieve a fair value but also add to the sporting assets of national or international federations.
About mjunction: mjunction services limited is the largest B2B e-commerce company in India and operates the world’s largest e-marketplace for steel. Founded in February 2001, mjunction is an equal joint venture between Indian steel conglomerates Tata Steel and Steel Authority of Indian Limited (SAIL), and provides a transparent and efficient electronic marketplace where buyers and sellers of diverse goods and services can transact in a model that delivers value to both parties.
Headquartered in Kolkata, India, the company has a strength of about 900 professionals across 20 offices in the country, and a presence in more than 40 locations. Internationally, it has a business footprint in Australia, Singapore, UK and the United Arab Emirates. mjunction also has its own office in Dubai UAE. Since inception, mjunction has e-transacted over Rs 658,108 crore till FY18 on its various e-platforms. It has service offerings spanning the entire B2B e-commerce spectrum and covers e-sales, e-sourcing, e-procurement, e-finance and loyalty solutions. More than 2 lakh entities transact on these platforms. mjunction is ISO 9001:2008, ISO 27001:2013 certified and is appraised at CMMI Level 5. It won the “Best E-commerce Company of the Year” Award in the “ET NOW Making of Developed India Awards” 2018.