Major League Cricket has closed a $44m Series A and A1 funding round, which includes an additional $76m commitment over the next 12 months.
MLC will be the very first American professional Twenty20 league cricket – a shortened, faster-paced format of cricket which was introduced to the professional ranks in England in the early 2000s.
The league will officially start games in 2023.
Co-directed by Satya Nadella, CEO of MicrosoftMLC’s latest round of funding will allow the league to expand the reach of the world’s second most popular sport in a burgeoning US sports market.
- the $120 million the investment will go mainly to the construction of stadiums and training centers.
- It will also make it easier to host world cricket events in the United States over the next decade.
Cricket is on the rise in the United States beyond MLC investment.
The Knight Riders Group, owners of the Indian Premier League Kolkata Knight Riderswould invest approximately $30 million build a 10,000-seat cricket stadium in Southern California.
Media rights for cricket have become a hot commodity as the IPL prepare to accept offers for a new five-year contract. The rights are currently held by Disney through its acquisition of Star India in 2019. Star India paid $2.6 billion for rights in 2017. A new deal could exceed $6 billion.