Carlsen may have shown the way for Virat, Dhoni – Bangalore Mirror

Chess Study

Chess champion's public issue receiving instant and overwhelming response Magnus Carlsen has gone public by issuing an IPO in his name. The rest seems history.

The Oslo Stock Exchange responded with copious returns -- more than $33 million and more than 250 shareholders have come his way. Now imagine if a Virat Kohli, an MS Dhoni or an IPL side does the same!

Carlsen seems to have inspired a generation of sport stars by becoming the first world champion to exploit his brand value. His managers got the eponymous firm, 'Play Magnus Group', the tech company founded by him, listed on the OSE recently. The response was instant.

Carlsen added: "The company has a unique vision and strategy for bringing chess to a wider audience. Our model will help many more chess players and coaches to be able to make a living from chess. The company has just started on this journey and I look forward to continuing to be a part of this adventure."

What if a Vishy Anand, Kohli, Dhoni or Shah Rukh Khan's KKR follow this model? Replies Venky Mysore, "The regulations of Oslo exchange and Bombay Stock Exchange are different. I need to study the whole thing," an excited KKR CEO told this paper.

Plaudits follow

The idea received plaudits too. "I have suggested this to the teams and the BCCI. Once you list it in the BSE, you come under its regulations and the BCCI does not want to be regulated. I believe an IPL franchise can easily raise Rs 7000 crore," said Shailendra Singh of Percept which manages celebrities.

Singh was more excited about the opportunities for the players. "I congratulate Magnus for the futuristic idea. I cannot think what could it do to Virat or Dhoni. If Virat gives himself a corporate identity, it will be a blockbuster of an IPO."

There are sceptics too. "Carlsen seems to have invented a business model where the company will outlast him. An IPO needs a lasting business model which outlives its founder and his persona as investors would look for future revenue visibility to put in their money. If Indian celebrities can weave a business model that goes beyond their name, corporatizing themselves may make sense," felt J Vishnu Shankar, a Bangalore-based market analyst.

See the article here:

Carlsen may have shown the way for Virat, Dhoni - Bangalore Mirror

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