The Indian investment firm, Capri Global, has ventured into the sports arena by acquiring a franchise in the UAE T20 league.
Capri Global Group has explored various sectors through its subsidiaries and the net worth is over INR 3,800 crore. The Indian firm’s key ventures are Stressed Assets Fund (SAF), Non-Banking Financial Company (NBFC) and Sports Venture.
Capri Global Capital Limited (CGCL) has a market cap of USD 1 Billion+ and is also one of the country’s leading Non-Deposit Taking Systemically Important Non-Banking Financial Companies. CGCL is also listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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.”
Khalid Al Zarooni, UAE’s T20 League Chairman and 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.”
Mubashshir Usmani, General Secretary Emirates Cricket Board, said, “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.”
Apart from this, Reliance Industries Limited has also announced in November last year that it will be acquiring a team in the UAE-based T20 competition. Manchester United‘s co-owner, Avram Glazer has also acquired a team in the tournament. The Indian infrastructure company, GMR Group bagged the rights to own the Dubai franchise in the UAE T20 League.