Film actor and entrepreneur, Akkineni Nagarjuna, has signed an agreement with Rhiti MSD of Indian cricket team captain Mahendra Singh Dhoni.

Nagarjuna-promoted N-Motorsport has forged a joint venture with Dhoni’s firm to take part in global racing competitions. It will also set up two academies, one each in the north and south.

Nagarjuna, however, refused to talk on the financial aspects and joint venture break-up between the two companies.

Addressing a press conference here on Thursday to announce the partnership, Nandish Domlur, co-owner and co-Managing Director of Mahi Racing Team India, said that the investments were in the order of multi-million dollars.

The duo would power Mahi Racing Team India for the 600cc FIM Superbike World Championship 2012-13, Nagarjuna said.

The actor ruled out the possibility of divesting the stake to infuse funds. “We have entered this space knowing fully well that it involves huge funds. We have the biggest brand (Mahendra Singh Dhoni). What else do we need,” he said.

Domlur said that the mandate of the firm was also to develop an ecosystem in the country to promote racing. “We are planning to develop domestic racing events,” he said.

The team will take part at the Indian round of the World Superbike Championships on March 10 scheduled to be held at the Buddh International Circuit near New Delhi. “It joined the 17-race championship midway in the tenth race in Czech Republic. It will rally through the full season next year beginning at Phillip Island (Melbourne, Australia) in February, 2013,” he said.

> kurmanath.kanchi@thehindu.co.in

Published on November 22, 2012