Cricket, although not a mainstream sport in the U.S., has been gaining attention from some high-profile CEOs and investors. The Men’s T20 Cricket World Cup, co-hosted by the U.S. for the first time, has sparked a wave of investments amounting to nearly a billion dollars in the American cricket scene. Among the notable investors are Microsoft CEO Satya Nadella and Adobe CEO Shantanu Narayen, who have shown interest in the new U.S. professional league, Major League Cricket. Iconic Ventures, Madrona Venture Group, and executives from Google are also part of this investment initiative. Soma Somasegar, a venture capitalist and managing director at Madrona, expressed his excitement about the prospect of cricket becoming a mainstream sport in the U.S.
Currently, nearly $850 million is in the process of being invested in developing a sustainable cricket league in the U.S. The funds will be allocated towards building a professional infrastructure, with six teams already established in Major League Cricket. Each team is expected to invest between $75 million to $100 million in creating a competitive team, acquiring top talent, and constructing stadiums for live cricket matches. The investment aims to elevate the profile of cricket in the country and attract a broader audience to the sport.
The ongoing T20 World Cup, hosted at various locations in the U.S. and the West Indies, has generated significant excitement among fans. The recent match between the U.S. and Pakistan, where the U.S. team emerged victorious, added to the anticipation of the upcoming India vs. Pakistan match at the newly developed Nassau County stadium in New York. The rivalry between India and Pakistan has historically garnered immense viewership, with millions of fans tuning in to watch the intense competition. The popularity of cricket in the U.S. is further evident through the high ticket prices for the high-profile matches, with resellers reporting average prices of $1,300 for the India vs. Pakistan clash.
Investors in the U.S. cricket league, such as Satyan Gajwani, recognize the significant potential of tapping into the loyal fan base of cricket enthusiasts from South Asia residing in the U.S. With approximately five million dedicated fans of cricket in the country, there is a substantial market for the sport. Additionally, expats from the U.K. and Australia, where cricket is immensely popular, contribute to the growing audience for cricket in the U.S. The high disposable income among South Asians in the U.S. further enhances the prospects of cricket becoming a mainstream sport in the country.
While cricket faces stiff competition from established American sports such as basketball and football, there is a possibility for the sport to find its niche among fans of baseball. M.R. Rangaswami, founder and chairman of Indiaspora, acknowledges the challenges of breaking into the U.S. sports scene but sees an opportunity to attract fans through the similarities between cricket and baseball. The strategic partnerships and investments made by key stakeholders reflect a concerted effort to promote cricket and establish a strong presence in the American sports market.