Legends League Cricket adds two new franchises, receives $30 million

 – Gudstory

Legends League Cricket adds two new franchises, receives $30 million – Gudstory

Rate this post

[ad_1]

Legends League Cricket (LLC), a global T20 cricket league featuring recently retired international cricketers, has signed two new franchises for its upcoming season, which will be played across five venues across India from November. The two new franchises – UrbanRisers Hyderabad and Southern Super Stars – paid $15 million each to join the league, the LLC owners told Mint.

The Hyderabad team is owned by real estate developer UrbanRise Group and JC Pawan Reddy, managing director of Trident Power Pvt Ltd. Reddy is also the president of Andhra Pradesh Olympic Association.

Southern Super Stars is owned by a consortium of companies including KLO Sports, co-founded by Sanjay Jupudi and Srinath Chituri. Others like Ranjit Rathore and Gautam Reddy will also have an integral role in the venture.

The defending champions, India Capitals, are owned by GMR Sports, which also co-owns Indian Premier League (IPL) team Delhi Capitals. The Gujarat Giants team is owned by Adani Sportsline, which also owns the Gujarat Giants teams in the Women’s Premier League (WPL) and Pro Kabaddi League (PKL). Bhilwara Kings is owned by LNJ Bhilwara Group, and Manipal Tigers is owned by Manipal Education and Medical Group.

The organizers of the LLC created two formats for the event, one domestic and one international. The league, which began last September, has a private-franchise format with six teams.

Raman Raheja, co-founder and CEO of Legends League Cricket, said, “After the first season, we have signed contracts with two big corporate houses. We look forward to creating value for all franchisees and building a very strong business case with the LLC.”

The tournament will have 200 players and 19 matches this season, which will be played in Ranchi, Dehradun, Jammu, Vizag and Surat.

“Exciting news! Mint is now on WhatsApp channels Subscribe today by clicking the link and stay updated with the latest financial information!” Click here!

Catch all business news, market news, breaking news events and latest news updates on Live Mint. Download Mint News app to get daily market updates.

more less

Updated: October 18, 2023, 12:51 PM IST

Comments

No comments yet. Why don’t you start the discussion?

Leave a Reply

Your email address will not be published. Required fields are marked *