KATHMANDU, Jan 22: Federation of Nepalese Chambers of Commerce and Industries (FNCCI) has signed a sponsorship deal of NRs 10.2 million with Nepal Volleyball Association (NVA) to organize FNCCI cup volleyball tournament.
NVA’s President Manoranjan Sharma and FNCCI’s vice-president Umesh Lal Shrestha exchanged contract papers to this effect on Sunday.
The tournament will be played in knockout format at the district level and league-cum-knockout format at the state and central levels, according to Jeet Bahadur Shrestha, general secretary of NVA.
Shrestha added that both male and female categories of the tournament will be played from February 8 to April 10 at the district, state, and central levels. No departmental teams will participate in the tournament.
The winner of the central level will get NRs 200,000 whereas the first runner-up will take home NRs 100,000 and the second runner-up will bag NRs 50,000 in cash prize.
Sports Minister Rajan KC said that the deal was an important event under public private partnership (PPP) model.
According to FNCCI President Bhavani Rana, the federation chose volleyball, a national sport, for investment after discussing on other possible sports as well.