The need for a cohesive and well-structured ecosystem has gained importance in today’s rapidly evolving sports landscape. As countries aspire to improve their sporting abilities, strategic planning and expert guidance becomes critical. To address this, a comprehensive approach is being used, with a focus on the alignment of various stakeholders in the sports industry, including leagues and clubs, investors, and the media. This collaborated effort aims to enhance athletes’ performance and the overall athletic experience.
The importance of a well-rounded sports ecosystem cannot be overstated, especially as India progresses towards becoming a developed economy. Speaking on the significance of this ecosystem, Shivanshu Chauhan, Partner – Water and Circular Economy, PwC India highlighted, “Sports is something which is globally a priority for us. There are approximately 40 countries where we run dedicated sports advisory practices.” This global reach highlights the need for a unified approach to sports, one that encompasses a diverse range of stakeholders.
Recognizing the complexity of the sports ecosystem, Chauhan emphasized the importance of collaboration, stating, “It is important to work with all of these stakeholders, because sports is an ecosystem, it’s a network, and multiple set of stakeholders have to come together.” This alignment is crucial for achieving the common objective of enhancing athletic performance on both national and international stages.
He stated that the journey towards establishing PwC’s sports advisory practice in India began in 2020, during a time of great uncertainty. “We were debating about what is the future of sports, because the pandemic basically brought us inside our homes,” Chauhan recalled. Despite the challenges, PwC’s passion for contributing to the sports industry led to the creation of a dedicated sports advisory practice. “We brought in certain set of people who have worked in the sports industry and the ones who also hold the sports qualification so that they can come in and create this ecosystem for us and we can talk to the client speaking their language.”
As the sports industry continues to evolve, PwC remains committed to driving innovation and excellence. “There is need for speed and scale, considering the size of the country today and the aspiration that we have as far as sports ecosystem is concerned,” he noted.
