October 28, 2022

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Happy Friday!

Pro is back this week with a Report on Major League Cricket — the new professional cricket league in the U.S.

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If you have any comments, feel free to reach out on Twitter @Ronenain to continue the conversation!

How the U.S. Got A New Pro Cricket League

Andy Marlin-USA TODAY Sports

Cricket is the world’s second-most popular sport after soccer, attracting a global audience of over 2.5 billion across 180 nations.

Yet, professional cricket has never truly moved the needle in American sports culture.

That’s about to change.

Cricket originated in the early 17th century in southeast England and owes its initial expansion to British traders, settlers, administrators, and soldiers from the British Army. 

During the early 19th-century colonization, these groups exported the game to other parts of the globe, such as India, Australia, New Zealand, South Africa, Pakistan, and Bangladesh.

Now, professional cricket is about to ship its product to the most prominent sports economy in the world. Major League Cricket — the first official professional American cricket league — plans to launch in summer 2023.

  • The U.S. has over 20 million cricket fans, but most rely on foreign cricket broadcasts at unusual hours. 
  • The U.S. is one of the world’s top five cricket media markets.
  • According to SponsorPulse, it ranks eighth in the percentage of consumers engaged with cricket worldwide and third in absolute population behind India and China.

MLC is backed by many prominent investors, some of which have relevant South-Asian roots, including Microsoft CEO Satya Nadella, Adobe CEO Shantanu Narayen, and billionaire investor Vijay Shekhar Sharma.

MLC aims to have over six international-grade stadiums in critical American markets that can hold over 30 national and international events with over 200,000 annual attendees and generate billions of broadcast views annually.

The outlook and beginning stages of MLC’s approach to deploying resources, leveraging network effects, and building a professional league from scratch are worth monitoring because they will set the tone for expected growth and the likelihood of commercial success in the world’s biggest sports economy.

Want to learn more? Check out the full cricket report here.

ICYMI: Last week, we published a Report on the rise of VR-enabled training and fitness. You can access that report and our entire catalog of research at Pro HQ.

Deal Tracker

Deal Tracker

This week’s Pro Deal Tracker highlights:

  • Recruiting Platform SEQL closed a $1.8 million seed funding round to amplify scouting reports for socioeconomically disadvantaged high school athletes for free.
  • Gaming solutions company GXC created Round Ventures, a $40 million VC fund, to invest in early-stage video-game startups.
  • CoachMePlus, the digital fitness platform that helps coaches work with athletes to achieve their fitness and wellness goals, raised a $1 million round from the Rochester Angel Network and the Buffalo Angels.
  • Odyssey Interactive, an independent game development studio, raised a $19 million Series A round led by Makers Fund.
  • NFT-Based Athlete Investment Platform FANtium raised $2 million in pre-seed funding from OneFootball founder Lucas Von Cranach and other investors.
  • Game development studio Crop Circle Games raised a $25 million Series A round led by the Transcend Fund.
  • VR gaming startup ForeVR Games raised $10 million to grow its library of Wii Sports-like titles.

Try out the full Deal Tracker.

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Written by Ronen Ainbinder
Edited by Brian Krikorian

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