The Business Bytes
New Delhi, October 4, 2024 (TBB Bureau): In a landmark move underscoring its deep-rooted commitment to sports in Odisha, billionaire Anil Agarwal-led Vedanta Limited has acquired full ownership of the Kalinga Lancers, a premier hockey team based in Bhubaneswar. This acquisition, announced on Friday during a franchisee event in New Delhi, comes as anticipation builds for the much-awaited return of the Hockey India League (HIL).
The Kalinga Lancers, former HIL champions, were previously co-owned by Odisha Industrial Infrastructure Development Corporation (IDCO) and Mahanadi Coalfields Limited (MCL). Vedanta Aluminium’s takeover of the team is poised to reinforce its sporting legacy while charting a new course for the Lancers in upcoming HIL seasons.
Odisha has long been recognized for its commitment to sports, and Vedanta has played a pivotal role in the state’s socio-economic development for over two decades. This acquisition is another step forward in Vedanta’s efforts to promote and nurture sports talent in the region, further cementing Odisha’s growing reputation as a hub for sports excellence in India.
Priya Agarwal Hebbar, Non-Executive Director of Vedanta Limited and Chairperson of Hindustan Zinc, highlighted Vedanta’s vision for the team, stating, “At Vedanta, we are committed to transforming India into a global sporting powerhouse. Hockey, being a cornerstone of India’s sporting success, has immense potential, as demonstrated by recent Olympic victories.”
Hebbar emphasized that Vedanta’s investment in the Kalinga Lancers goes beyond team ownership: “We are investing in the future of Indian hockey. By focusing on enhanced infrastructure, grassroots talent scouting, and advanced training, we aim to nurture the next generation of athletes who will represent India on the world stage with pride.”
Vedanta’s acquisition aligns with its broader mission to integrate business growth with impactful community development. With a strategic focus on assembling a formidable team for the forthcoming HIL season, the company plans to strengthen the Lancers’ competitive edge by bolstering infrastructure, securing sponsorships, and exploring new partnerships.
This move not only reaffirms Vedanta’s dedication to empowering sports in India but also reinforces Odisha’s stature as a key player in the country’s sports landscape. The acquisition is set to bring renewed vigor to the Kalinga Lancers and inspire young athletes across the region to pursue their dreams on the hockey field.
