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T20 Cricket league LLC raises $10 million – Magazine Creations

New Delhi
: Legends League Cricket (LLC), the global T20 cricket league with recently retired international cricketers, is looking to raise $10 million to develop the league further, said Raman Raheja, Director, Supreme Legends Sports Pvt Ltd and CEO of LLC. Mint.

Some of the big names in the league are Harbhajan Singh, Gautam Gambhir, and Chris Gayle.

The league, which has two formats and is held at two different times of the year, has raised a total of $7 million since its inception in 2022, when the first season of the league was played.

Some of the proceeds from the fundraising will be allocated to marketing, while some will be spent on restoring stadiums in locations like Ranchi, Dehradun, Jammu, Vizag and Surat. “Some of the grounds we play on, especially Jammu and Dehradun for example, have required a lot of work in terms of restoration and bringing them up to international standards. We are working with the local authorities to improve the ground.”

The two formats you play in are Regional and Franchise. The international “regional” format is called “LLC Masters”, and is played in Qatar.

‘Legends’, the franchise-based model is set in India, with six privately owned teams – India Capitals, Gujarat Giants, Bhilwara Kings, Manipal Tigers, Urbanrisers Hyderabad and Southern Super Stars. The owners of the two new teams, Hyderabad and Stars, which were added in October, paid $15 million each for the franchises for nine years.

“The business model for us is very much in the league our franchise model, Legends. The other league, Masters, is more focused on promoting the game and reminding fans that some of these cricketers are still playing, so it is a marketing initiative for us. Across the two formats, we have tried Replicating active cricket that is played either for the country or clubs. “Masters is like playing for the country and the franchise model replicates playing for clubs,” Raheja said. About $7 million was spent in the first season of the Masters tournament.

The company was originally supposed to do two Masters seasons before entering into its franchise model but saw enough success in the first season to be able to accelerate its plans for the franchise business.

Raheja said the leagues target fans between the ages of 24 and 45 who are already avid cricket viewers. But since many of the cricketers involved in the league have already retired and taken up duties as coaches and commentators, it is important to remind viewers that many of them actively play cricket too.

“In terms of viewership and reach, it was great. Star Sports created the muscle and put it behind us. In terms of revenue, we think it was better than the first season but these are early days.”

In a previous story, Mint It stated that LLC was the only cricket league that was seriously watched by cricket fans outside the IPL in India. Viewing data obtained from subscribers at Broadcast Audience Research Council (BARC) said the opening match of the latest Legends League Cricket (LLC) tournament recorded a TV rating or TVR of 0.51 (the percentage of audience that watched the entire match). In comparison, the opening matches of the Big Bash League, Pakistan Super League and SAT20 recorded a TVR of 0.05 each. The Caribbean Premier League was at 0.01, while the Sri Lanka Premier League could get 0.04 TVR for the opening match. The current TV universe is 800 million across 210 million addressable TV homes.

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