MUMBAI: Wave Inc, the company promoted by Gurdeep Singh Chaddha alias Ponty Chaddha, has taken the franchise rights for the Delhi team of Hockey India League, the franchise based league launched by Hockey India with the backing of International Hockey Federation.

Established in 1963 by Sardar Kulwant Chada, Wave Inc is a diversified business house with interests in sugar manufacturing, distilleries, paper manufacturing, real estate and multiplexes and retail management.

Hockey India Secretary-General and Hockey India League Chairman Dr Narinder Batra said the entry of Wave Group into Indian sports augurs well for hockey. "Over the past few weeks when we have been interacting with him, we have seen Ponty Chadha?s infectious enthusiasm. We believe that the Delhi franchise is in very good hands," he said.

Besides Wave Inc, HI has so far signed up with Sahara India for Lucknow, Jaypee Group for Punjab, Patel-Uniexcel Group for Ranchi.

"We are in advanced talks with business houses for the other two franchisees," Batra added.

Wave Group Chairman and Managing Director Chadha said the Group had been waiting for the right opportunity to be able to get into sports.

"I was born in Uttar Pradesh, which has been an incredible nursery for hockey from the legendary Dhyan Chand?s time. We are delighted to be able to associate ourselves with what promises to be dynamic league," he said.