Major League Cricket (MLC) has raised funds for its launch in the United States majorly from tech and business entities like Microsoft and more.
The league reported that it had raised $44 million in the Series A/A1 phase and had secured an additional $76 million to bring the total amount raised to $120 million. The entire amount will be used to construct cricket stadiums and training facilities throughout the United States.
The lead investors include the Microsoft CEO, Satya Nadella and Soma Somasegar, managing director of Seattle’s Madrona Venture Group.
MLC’s 27-team Toyota Minor League Cricket (MiLC) sponsored by Sunoco debuted last year as a warm-up for the country’s very first official T20 competition, which is a relatively fast, three-hour version of the sport, which is set to debut in 2023.
Professional cricket initiatives have been presented in Grand Prairie, Texas; Redmond, Washington; the Santa Clara County Fairgrounds in San Jose, California; Morrisville, North Carolina; and Irvine, California in the last three months. The main aim of these investments is to develop a passion for cricket in the United States and to produce a young generation of cricket aspirants.
Somasegar said, “I share the vision Major League Cricket has for the launch of a world-class T20 cricket league and the potential for the United States to become one of the leading cricket nations in the world.
“I am delighted to be part of a dynamic group of investors who will help the sport reach that level through an unprecedented commitment of resources by MLC to developing the sport.”