Deal with Global Sports Ventures.
The United States of America Cricket Association (USACA) has announced a $70 million exclusive licensing rights for a franchised T20 Professional Cricket League to Pennsylvania-based sports development company Global Sports Ventures, LLC.
“USACA is thrilled to announce a commercial partnership with Global Sports Ventures, LLC to bring this long adored sport stateside, and are confident in their ability to grow the sport in the United States,” said Gladstone Dainty, President of USACA, in a statement. “This multi-year, multi million-dollar licensing agreement will change the way the sport is played, followed, watched and administered, and we’re excited to provide for the first time ever annual contracts to our players – both male and female.”
Cricket boasts the second highest viewership in the world behind India – with more than 1.4 million people tuning in to view the ICC World Twenty20 competition earlier this year. Based on the high demand of the sport, the development company is prepared to generate hundreds of millions of dollars through partnerships, significantly impacting the sports economy, according to a press release.
Jignesh (Jay) Pandya, president and CEO of Global Sports Ventures, LLC said, “The professional sports landscape is a notoriously tough market to break into, but we’re confident in the strength of the consumer demand in the US. This agreement allows us to grow the world’s second most popular sport right here in our own backyard.”
The deal between the USACA and Global Sports Ventures, LLC will professionalize the game of cricket in the U.S., providing American athletes the opportunity for a professional career in cricket.
USACA is the national governing body of Cricket in the United States formed in 1965. They are an associate member of the International Cricket Council (ICC), the world governing body for Cricket.