Capri Global, an Indian non-banking financial services firm, has been awarded one of the six franchises in the UAE T20 League, which will debut later this year. Capri Global makes its first foray into cricket with this purchase, becoming the fourth franchise owner in the Emirates Cricket Board (ECB) owned UAE T20 League.
Lancer Capital, the owners of Manchester United Football Club, Reliance Strategic Business Ventures Limited, a subsidiary of Reliance Industries Limited, the owners of Mumbai Indians, and GMR Group, co-owner of Delhi Capitals, are the other three corporations that have previously purchased franchise rights.
“Our foray into sports franchising allows Capri Global to leverage on the passion that Indian audience has for cricket,” Rajesh Sharma, managing director of Capri Global, said in a media release on Wednesday.
The proprietors of the Kolkata Knight Riders and the Sydney Sixers, a BBL club, are said to be the two other firms that have indicated an interest in buying the two additional UAE T20 League franchises. The six-team league, which will feature 34 matches, was initially scheduled to take place in February and March, but the ECB is optimistic that it will host the first edition of the league in 2022.
One possible opportunity, according to ESPNcricinfo, would be in June, immediately following the IPL, which is set to finish on May 29.
Sanctioned by Emirates Cricket Board, the UAE T20 League is a professional franchise-based T20 cricket league that has six franchise teams participating in a 34-match campaign. Despite facing trouble finding a suitable window to host the T20 tournament, ECB has asserted that they are putting in all the efforts to launch the tournament conduct the tournament in June-July. The tournament that will be featuring six teams is so far witnessed franchise acquisitions by Mukesh Ambani, Gautam Adani, Shah Rukh Khan, Lancer Capital, and Rajesh Sharma, a Dubai-based industrialist.