Capri Global acquires franchise in UAE’s T20 league

Capri Global has made its first ever historic foray into cricket by acquiring a franchise in UAE’s T20 league.

The Group Company, Capri Global Capital Limited (CGCL) is one of India’s leading Non-Deposit Taking Systemically Important Non-Banking Financial Companies with a USD 1 Billion+ market cap. Promoted by a first-generation entrepreneur, Rajesh Sharma, CGCL is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Commenting on the development, Rajesh Sharma, Managing Director of Capri Global Capital Limited said: “We are delighted to acquire a franchise in UAE’s T20 league. Our foray into sports franchising allows Capri Global to leverage on the passion that Indian audience has for cricket. We see great synergy coming through this alliance, including a host of exciting moments that are set to elevate the cricketing experience for our Indian audience at the global platform.”

“We believe that the land of opportunity through its sports IP has created an image that accurately depicts what represents the UAE. We wish UAE’s T20 League a very successful season and hope to see them hosting many more in the years to come,” he added.

On the other side, Khalid Al Zarooni, UAE’s T20 League Chairmanand Vice Chairman Emirates Cricket Board said: “I am very excited to welcome Mr. Sharma to UAE’s T20 Family! To have a partner who is acknowledged as one of India’s leading investment bankers, buying into the UAE’s T20 vision and investing into sports properties with a long term investment perspective is a testament to the strength of UAE’s T20 League’s Business Model and its value proposition to its stakeholders and an ode to the UAE as the destination of choice for global sports events.”

Meanwhile, Mubashshir Usmani, General Secretary Emirates Cricket Board expresseed: “We are extremely pleased that a legendary investment professional like Rajesh Sharma has chosen to partner with the UAE’s T20 League. This is a resounding thumbs up to the unique opportunity that UAE’s T20 league offers.

Capri Global Group’s interest varies across sectors through its subsidiaries and net worth of the Group is in excess of Rs. 3,800 Cr. Key ventures of the Group are Non-Banking Financial Company (NBFC), Stressed Assets Fund (SAF) and Sports Venture.

Having been announced earlier this year, the six-team UAE T20 League remains well on track to be played in 2022 where senior committee members are encouraged by the enormous interest shown from a number of high-profile individuals and well-established corporates from across the world.

Notably, the UAE T20 League is a professional franchise-based T20 format cricket tournament established in 2020 that combines two of the most compelling aspects of global sport – world class infrastructure coupled with the most favorable time zone catering to cricket fans around the world.

Recently, GMR Group, a leading global infrastructure conglomerate headquartered in New Delhi, had also acquired a franchise in the league.

News Desk

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