From NBCUniversal News Group: 2024-06-07 19:02:12

Investors are pouring nearly $1 billion into Major League Cricket to boost the sport’s popularity in the U.S. CEOs like Satya Nadella and Shantanu Narayen are backing the league. The T20 World Cup being held in the U.S. is attracting attention, with the U.S. national team defeating Pakistan and a highly anticipated India vs. Pakistan match approaching. Ticket prices are soaring, highlighting the sport’s potential growth in the U.S. Expats from cricket-loving countries are a key target for driving mainstream adoption.

Nearly $850 million is being invested in Major League Cricket to establish a viable U.S. league. Each of the six professional teams is expected to spend $75-$100 million, covering team costs, talent recruitment, and stadium construction. The ongoing T20 World Cup held in the U.S. and the West Indies is generating excitement. Anurag Jain, an investor in the league, notes the U.S. national team’s reliance on league players for talent.

Venture capitalist Satyan Gajwani seeks to make cricket a mainstream sport in the U.S. by targeting the loyal South Asian diaspora. Willow TV, headed by Gajwani, has exclusive streaming rights for cricket in North America. With 5 million passionate fans in the U.S., mainly from South Asia, cricket aims to attract high-income individuals seeking sports and entertainment options.

South Asians in the U.S., with the highest gross income among ethnic groups, present a lucrative opportunity for cricket’s expansion. M.R. Rangaswami, of Indiaspora, highlights the challenge of breaking through the American sports market dominated by basketball and football. Leveraging similarities between cricket and baseball could be a potential entry point for capturing American fans’ interest.



Read more at NBCUniversal News Group: Nadella, Narayen among tech CEOs investing in cricket’s American dream