Perhaps the cricketing dose the Reliance industries got in IPL haven't proved enough for Mukesh Ambani, India's richest person as the company has recently announced a JV with IMG Worldwide.

The JV among the two firms is aiming to boost the sports marketing and management practices in the Indian sports industry. The new entity will also be opening educational institutions which will work following the format of IMG Academies (IMGA), Florida, the world's leading sporting and educational institution.

In fact, the company is also aiming at training celebrities, namely from the world of sport, Bollywood, fashion to let them own, operate and develop assets under the sports industry. With the new entity in existence, it will take over the existing properties of IMG which will include Aircel Chennai open and Lakme Fashion week.

The JV will also takeover IMG's role in IPL though, it will still be managed by the IMG management. The latest JV by Reliance comes after M&M announced its alliance with NBA to boost the popularity of Basketball in the country. And with a five decade experience at the back, IMG will be a perfect partner for the conglomerate in the country.