Adani group becomes 4th Indian co to buy UAE’S T20 League franchise

Adani Sportsline, a subsidiary of the Adani group, has acquired the rights to own and operate a franchise in the six-member UAE T20 League, it said on Monday.

Adani became the fourth Indian group after Reliance Industries (RIL), GMR group and Capri Global, a non-bank- ing financial company (NBFC), to own teams in the Indian Premier League (Ipl)-style tournament that is likely to commence in June.

RIL subsidiary Reliance Strategic Business Ventures had acquired the UAE T20 League franchise rights in November 2021. GMR and Capri Global had bagged the team rights in February and March, respectively.

RIL owns the Mumbai Indians IPL franchise, while GMR co-owns Delhi Capitals.

“The UAE is an amazing amalgamation of several cricket-loving nations. It provides an excellent platform for enhancing the visibility of cricket as the sport goes increasingly global,” said Pranav Adani, managing director, agro, oil and gas, and director, Adani Enterprises. He added, “We are excited to be a part of the UAE T20 league.”

Adani will be the fifth franchise owner of the UAE T20 league, marking its first major foray into cricket overseas. Last year, the group had bid for the Lucknow and Ahmedabad franchises at IPL. But it lost out to the RP Sanjiv Goenka group and CVC Capital Partners, respectively.

RP Sanjiv Goenka group had bagged the Lucknow team for ~7,100 crore, while CVC Capital had acquired the Ahmedabad franchise for ~5,166 crore.

Licensed by the Emirates Cricket Board, the UAE T20 league has Lancer Capital, the owners of Manchester United Football Club, as its fourth franchise owner.

RIL, GMR group and Capri Global own teams in the Ipl-style tournament that is likely to start in June