Indian sports team Mumbai Magicians gets a new ownership in the name of Doit Sports Management (India) Pvt. Ltd.
The Mumbai franchise's original owner was Dabur, India's largest Ayurvedic medicine manufacturer. Dabur pulled out as the owner of the team.
The hockey team was broken up following financial issues struck the company.
Aside from the Mumbai Magicians, another hockey team, Ranchi Rhinos, withdrew from the Hockey India League making the number of original HIL teams down to four.
The league will reportedly have six teams in its roster, with Pune replacing Ranchi's place.
The change of ownership of Mumbai Magicians will likewise affect the team members in Mumbai Magicians as the present batch of players will not be retained in the team.
Meanwhile, the released players from Mumbai Magicians will be part of a mini-auction in October.
While released players from Ranchi Rhinos plus 50 other Indian players and 60 international players along with will be featured in the players' auction next year, according to Hockey Secretaey General Narinder Batra.
DoIt Sports Management made a statement in India's sports scene by owning the Delhi franchise in the Pro Kabaddi League.
Mumbai Magicians won sixth place in the inaugural edition, while Ranchi Rhinos were the champions of the tournament/
"We welcome Doit Sports Management on board the Hockey India League. As they already have immense knowledge in the sports arena, we are confident they will have a positive impact on this season's HIL," Batra stated in The Hindu.
Kapoor answered on a positive note saying DoIt Sports Management aims to live up to the pride that Hockey being India's most successful sport emanates to its people.
The third edition of the Hockey India League that will start in January will not feature eight teams after the withdrawal of the Magicians and Rhinos, Batra emphasized.
