Mumbai: Capri Global Group on Wednesday announced that it has acquired a franchise in UAE’s T20 league.

Promoted by first-generation entrepreneur Rajesh Sharma, Capri Global has varied interests across sectors including key ventures such as a non-banking financial company, stressed assets fund and sports venture. Its subsidiary Capri Global Capital is a non-deposit-taking systemically important non-banking financial company with a $ one billion+ market cap, said the statement.

Capri Global Capital managing director Rajesh Sharma said the foray into sports franchising allows the company to leverage on the passion that the Indian audience has for cricket. “We see great synergy coming through this alliance, including a host of exciting moments that are set to elevate the cricketing experience for our Indian audience at the global platform. We believe that the land of opportunity through its sports IP has created an image that accurately depicts what represents the UAE," he added.

“To have a partner who is acknowledged as one of India’s leading investment bankers, buying into the UAE’s T20 vision and investing into sports properties with a long-term investment perspective is a testament to the strength of UAE’s T20 League’s Business Model and its value proposition to its stakeholders and an ode to the UAE as the destination of choice for global sports events,” commented Emirates Cricket Board vice chairman and UAE T20 League chairman Khalid Al Zarooni.

“We are extremely pleased that a legendary investment professional like Rajesh Sharma has chosen to partner with the UAE’s T20 League. This is a resounding thumbs up to the unique opportunity that UAE’s T20 league offers,” added Emirates Cricket Board general secretary Mubashshir Usmani.