X1 Racing League will have potent mix of 'sportainment': Ravi Krishnan

THE WEEK talks to Ravi Krishnan, X1 Racing League chairman (non-executive)

Ravi-Krishnan-X1 Ravi Krishnan, X1 Racing League chairman (non-executive)

As X1 Racing League takes baby steps in India, leading sports manager Ravi Krishnan has been appointed its chairman (non-executive). He has led the global sports and media group IMG and was instrumental in creating tournaments and events like Sahara Cup, The Aircel Chennai Open, Lakme India Fashion Week.

ALSO READ: X1 Racing League, a likely game changer for Indian motorsport


THE WEEK caught up with him as he prepares to start a new innings. Excerpts from an interview:

What are your plans for X1 Racing League?

X1 is taking a "full-stack approach" to building an integrated sports media property—from an esports championship to a racing league. The plan is of course to attract motor racing fans, but more importantly, engage, extend and expand enthusiasm and aspiration amongst a wider audience via a potent mix of ‘sportainment’. We are taking a 3-5 year horizon to hit critical mass, with plans to amplify further by expanding the league through more racing weekends, more venues and more teams. The goal is to build X1 into a premier motor sports and sports IP.

You have been responsible for some of the finest big ticket events in India such as the Sahara Cup and LFW to name a few. What has been the biggest takeaway from these big ticket events that you would want to bring to the X1 League?

I think my biggest takeaway is the need for planning. One of my favourite sayings, as my staff hear often, is from Abraham Lincoln, “if you have eight hours to cut down a tree, spend six hours sharpening your axe”.

Planning is the key to delivering a great event/property that lasts. The other key factor that I would like to emphasise is that when you are trying to build a property to last you must think about the second year in the first year. There are many examples of events having a first year but “falling off a cliff” in the second, Formula1, in India, is an example and there are several other leagues that have started and not gone on to reach any sort of stability or commercial viability.

The novelty of the first year can get things started but to have an event that endures takes real long term planning qualitative and quantitative resourcing and meticulous execution. I am proud that events like Lakme Fashion Week and the Indian ATP Event are still going into their second and third decades respectively, long after those who were involved at the beginning have moved on. That is when you know you have built something to last and that’s our goal with X1.

Tell us about your association with Virat Kohli.

Virat Kohli is a stakeholder in Stepathlon Kids—a company focused on the health and wellness of the next generation. Virat’s commitment to his own health and fitness is well known and is another way he leads the country by example. He is an inspiration.

How do you plan to develop commercial opportunities in India for CFG?

City Football Group is one of the pre-eminent organisations in the world of sport with Manchester City being the jewel in the CFG crown. We at KWANAbler are working closely with them in a strategic manner to develop commercial opportunities in this market. They recognise the potential for the Indian market and are here for the long term. It’s an exciting relationship for us. KWANAbler’s partnership with a marquee football club such as Manchester City also underlines our credentials as a global business partner. City Football Group and its progressive strategies have had a huge impact on the evolution of club football. Associating with such a prominent domain leader is not only an exciting moment for KWANAbler, but also for the larger sporting ecosystem in India.

Since you have been at the forefront of sports, media and entertainment businesses, could you tell us a little about the trends that you see in these areas that are going to be coming to India soon, and their future?

I think it’s a really interesting time for sports media and entertainment in India. The next decade will be a defining one. The opportunities exist in the traditional and linear mediums and also in the non-linear new media environment. The entire ecosystem is developing incrementally and exponentially, and this augurs well for not only the ‘premier’ sports like cricket or football but for what have been previously considered as ‘secondary’ sports. I think women’s sport is a huge opportunity and I am very keen to help women’s sport grow and capture the attention and revenues that it deserves.

The emergence of ‘Sportainment’ is an exciting convergence of sport and entertainment to broaden and deepen audience appeal.

Stepathlon has seen great success. What's next in that space for you?

Stepathlon has had over 4,50,000 participants in 1,050 locations in 65 countries and from 722 companies.

We are very excited at the growth of our B2B platform. We also have a very exciting announcement coming soon with respect to our foray into the B2C space.

We bring a ‘sports marketing approach to wellness’ and I think that is why we are still around while many other players have fallen by the wayside. Wellness, like sponsorship must be activated. The shoes don’t make you fit, the device doesn’t make you fit, and the gym membership doesn’t make you fit. It’s all about behaviour—we are in the human behaviour business!!

Could you also tell us a little about your journey with Rajasthan Royals?

I was the vice-chairman of the Rajasthan Royals in the inaugural year of the IPL 2008 and an adviser for the franchise on the commercial, player, operational and strategic matters. A win off the last ball of the last game just made it a ‘fairy tale’. It was an incredible and educational experience working with Manoj Badale (the principal owner), Shane Warne, who did a “league defining job” as captain-coach, and the entire organisation. I think the IPL is a phenomenon and that is a testament to all those who were there at the beginning and those who have carried it on since. I believe it’s set for even bigger heights commercially. It’s incredible that only two leagues in the world have every team profitable—the NFL, which has been around for nearly 100 years, and the IPL which is only 12 years old.

What's your next big idea... what can we expect next?

The past can be a lens to the future. I believe in glancing back and “glaring” forward as a way of creating path breaking initiatives.

It’s always a team effort and I have been lucky enough to be associated with some very talented people.

With respect to what’s on the anvil for the future, I would prefer to “walk the walk” than just talk. I do believe there are many more firsts for me and my teams. It’s a question of being both strategic and opportunistic. I think life and business should be a combination of structure and spontaneity and that is how I live both, personally and professionally.