Investors and high-profile CEOs are making a significant push to popularize cricket in the United States. With the Men’s T20 Cricket World Cup being co-hosted by the U.S. for the first time, these individuals have invested close to $1 billion in their American cricket ambitions. Among the notable investors are Microsoft CEO Satya Nadella, Adobe CEO Shantanu Narayen, and executives from Google.
One of the key figures in this movement is Soma Somasegar, a venture capitalist and managing director at Madrona. He expresses his excitement about the potential for cricket to become a mainstream sport in the U.S. Somasegar and Nadella are both owners of the Seattle cricket team, called the Orcas, and are investors in the overall league. Their interest in cricket extends beyond their investment; Nadella’s passion for the sport is such that Microsoft even has a cricket field on its campus in Bellevue, Washington.
The investment in Major League Cricket, the new U.S. professional league, currently amounts to nearly $850 million. This funding will go towards building a viable cricket league in the country, including establishing teams, recruiting talent, and constructing stadiums for live matches. Currently, there are six professional teams in Major League Cricket, with each team expected to spend between $75 million and $100 million in the coming years.
Adding to the excitement is the ongoing T20 World Cup, which is being held at various locations in the U.S. and the West Indies throughout June. In a stunning upset, the U.S. team recently beat Pakistan in a match held near Dallas. Fans are now eagerly anticipating the highly anticipated India vs. Pakistan match on Sunday at the newly developed Nassau County stadium in New York. The previous India vs. Pakistan match drew over 300 million viewers in India alone.
The growing interest in cricket is reflected in ticket prices for matches. Resale platform StubHub reports that the average price of tickets for the India vs. Pakistan match is $1,300, significantly higher than the average price of $120 for the other matches in the tournament. This highlights the immense popularity and demand for this rivalry match.
Anurag Jain, a venture capitalist and part owner of the San Francisco Unicorns team in Major League Cricket, explains that the goal is to make cricket a mainstream sport in the U.S. Satyan Gajwani, the vice chairman of Times Internet and head of Willow TV, which holds exclusive streaming rights for cricket in North America, shares this sentiment. Gajwani emphasizes the target audience of South Asian diaspora and expats from the U.K. and Australia who have a strong affinity for cricket.
The potential for success lies in the fact that South Asians in the U.S. have the highest gross income among ethnic groups, according to research by Indiaspora. This means that there is significant discretionary income available to be spent on sports and entertainment, including cricket. However, breaking into the U.S. sports scene won’t be easy, with basketball and football dominating American sports culture. Rangaswami, founder and chairman of Indiaspora, believes that baseball fans could be a potential entry point as the two sports share some similarities.
Overall, with substantial investments and a growing fanbase, cricket has the potential to become a mainstream sport in the U.S. The ongoing T20 World Cup and the efforts of investors, CEOs, and cricket enthusiasts are driving this movement forward. As cricket gains popularity among South Asians and expatriates, it could carve out a niche for itself in the American sports landscape.
