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Three years after USA Cricket announced a billion-dollar plan to fund the game professionally in the United States, Major League Cricket announced Wednesday that it had raised $44 million to close its Series A and A1 fundraising, with an additional investment of $76 million. for the next year.
In a press release, MLC said its investment has been led by Microsoft CEO Satya Nadella; Soma Somasegar, a Seattle-based venture capitalist; Ross Perot Jr. , the billionaire son of the ’90s presidential candidate; Sanjay Govil; and generation marketers and business partners Anand Rajaraman and Venky Harinarayan; Among others.
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In an interview with Sportico, MLC co-founder Vijay Srinivasan said his fundraiser has put the league on track to achieve its billion-dollar goal.
“I think we’re moving more or less toward that,” said Srinivasan, chief executive of Willow TV International. “The pandemic would possibly have replaced things in a year or two. “
The league had scheduled a start date in 2022, but now plans to start games next year. MLC teams will compete in the Twenty20 (T20), a condensed and faster form of cricket that has gained popularity around the world since its launch. advent in England in the early 2000s.
A spokesperson for Major League Cricket declined to provide MLC’s existing assessment, at its most recent fundraiser.
The combined $120 million MLC has on the books will go primarily to building and remodeling stadiums across the country, starting with the league’s planned flagship in Grand Prairie, Texas, at AirHogs Stadium, a former minor league baseball and football stadium, as well as innovations. to some of his other fields in Morrisville, N. C.
Srinivasan says an opening is planned at Grand Prairie this summer.
Last month, the City Council of Irvine, California, 40 miles southeast of Los Angeles, approved plans to participate in an exclusive bargaining agreement with Major League Cricket to expand a 20-acre parcel of land that would come with a 10,000-seat cricket stadium.
In addition to its own games, the MLC plans to use its services to host games overseas, adding the 2028 Olympics in Los Angeles, if the game is included.
“The expansion cap for cricket in the U. S. UU. es incredibly high, with the penchant for gambling at the local point I’ve noticed in Texas, evidence of its potential,” said Anurag Jain, another MLC investor, who is a spouse of Perot and president of Access Healthcare. “The plans MLC has developed to expand the infrastructure and lay the groundwork for professional cricket to thrive nationally put the game on a super trajectory, and I’m extremely happy with that vision. “
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