New Delhi, India -- (SBWIRE) -- 12/08/2011 -- Management guru Arindam Chaudhuri`s Delhi franchise will be called `Delhi Gypsies and Billionaires` in the upcoming i1 Super Series league, it was announced.

Planman Stars, a company promoted by Chaudhuri of IIPM, is the owner of the Delhi team in i1 Super Series and is expected to invest about USD 5-6 million in the league`s maiden year.

"Motorsports is as much a sport for the gypsies at heart as for the billionaires by style! The name is as much a tribute to Delhi, the city which is often referred to as Dilwalon ki Dilli, as to the city which boasts of the highest number of billionaires and is undoubtedly the style capital of India," Chaudhuri said in a statement.

"I believe sports greatly unite a community and a country over and above any differences that may exist in views, class and opinions. Nothing else can channelize the competitive spirit and passion of the youth in a more positive manner than sports.”

"That is what we aim to do through a new age sport like competitive motor racing, which has got high attention and is here to stay," Arindam added.

The i1 Super Series have already announced four franchises in Mumbai, Delhi, Hyderabad and Bangalore.

Bollywood superstar Shahrukh Khan is the owner of the Mumbai team while leading Tollywood superstar Nagarjuna took over the Hyderabad side.