Could this be cricket's impending financial powerhouse in Europe?
The European T20 Premier League (ET20PL), a new white-ball franchise league set to launch next year, is poised to revolutionise cricket in Europe. The ambitious project, established through a joint venture with Cricket Ireland, is the brainchild of a group of visionary co-founders, including Bollywood star Abhishek Bachchan and experienced Indian cricket executive Dhiraj Malhotra.
Saurav Banerjee, another co-founder and the driving force behind the fundraising process within the team, believes that the success of The Hundred has expanded the market and created a buzz that will benefit the entire cricketing world. He compares the growth potential of the ET20PL to the growth of YouTube, citing Google's acquisition of YouTube as an example.
The group expects investors from Ireland, Scotland, and the Netherlands to finance the launch of the EU-wide T20 Super Cup League. Partnerships in cities like Dublin, Belfast, Edinburgh, Glasgow, Amsterdam, and Rotterdam are crucial to this initiative. The league will consist of six teams in these cities, providing a platform for cricket talent across Europe.
Cricket's fanbase has grown significantly in recent years, according to Banerjee, who states that it has grown from 1.5 billion to 2.5 billion in a year. He attributes this growth to the popularity of T20 cricket and the success of leagues like The Hundred. The near-£1bn total valuations achieved in The Hundred sale should help to sell the ET20PL.
The ET20PL aims to create a premium league for cricket in Europe, attracting further ownership interest. The group has engaged London-based Oakvale Capital to facilitate this, hoping for investment from Irish, Scottish, and Dutch investors. Potential buyers have resumed talks, according to Banerjee.
Priyanka Kaul, another co-founder, highlights the potential for cricket in countries like Italy, Germany, Spain, and smaller members. She believes that the ET20PL can provide a platform for these nations to showcase their talent on a global stage.
The global profile of cricket is set to be boosted by its return to the Olympics at LA 2028 and Italy's qualification for next year's T20 World Cup. The group behind the ET20PL believes that Europe is an untapped market for cricket talent and fandom.
However, plans to launch the ET20PL this summer have been postponed due to several potential franchise owners from the Indian Premier League focusing on completing stake purchases in The Hundred, and ongoing tensions between India and Pakistan. Despite this setback, the future of the ET20PL remains bright, with the group undeterred in their mission to bring premier T20 cricket to Europe.
