Dallas-based company has steadily focused on sports franchises.
By Kevin Manuel
WASHINGTON, DC: The U.S. based company Chalak Mitra Group (CMG) has taken over the ownership of the inaugural Caribbean Premier League champions Jamaica Tallawahs.
The Jamaica Observer reported that CMG are the new franchise owners of the cricket team. The announcement followed an opening day victory for the Tallawahs after the Kingston-based club posted an opening round victory over the St. Lucia Zouks at the National Cricket Stadium in St. George’s, Grenada on July 12th.
A seven-partner group, the Dallas-based CMG’s Board comprise of young entrepreneurs who have collaborated on multiple business since 1998. Since then, the group has generated around $350 million in revenue as of 2014. CMG is a self-described operationally focused private equity firm with numerous brands under its ownership. Since its inception in 1998, CMG has overseen a business model that includes franchises, hotels, real estate, and restaurants and whose day-to-day operations are run by a team of over 5,000 individuals.
CMG chairperson and president Manish Patel shared his excitement over the new partnership in a statement.
“We’re delighted to become the new owners of the Jamaica Tallawahs franchise,” said Patel. “As a group we are passionate about cricket and after seeing the success of the CPL last year, we knew this was something we wanted to be a part of.”
He added: “The unique and vibrant culture of Jamaica drew us towards the Tallawahs, and given that Indo-Jamaican culture has flourished for many years, we knew it was the right choice,”
While CMG are new owners of a sports team, they are no strangers to athletics. The group of entrepreneurs, who are originally from India, has also struck sponsorship deals with the Dallas Mavericks and the Memphis Grizzlies of the National Basketball Association in addition to collegiate and amateur sports teams.
The Jamaica Tallawahs were crowned champions of the inaugural Limacol Caribbean Premier League in 2013 and continued their winning ways this season with an opening day win over the Zouks, which saw Tallawahs captain Chris Gayle score the first ever CPL century.
Damien O’Donohoe, Chief Executive Officer of the fledgling new cricket league, is optimistic about the new ownership.
“It’s a testament to the strength of the CPL and the Jamaica Tallawahs that we are able to welcome such a respected new franchise owner. CMG is a hugely successful organization with vast experience and a passion for sport. We’re looking forward to working with them as they help us reinforce the success of the CPL and develop new audiences for the Biggest Party in Sport,” he said in a statement.