In for a spin? How cricket is growing on a new turf
IND vs PAK, T20 World Cup 2024: All you need to know including weather report, live streaming details
Wall Street, usually associated with bulls and bears, has a new participant on the scene. Wall Street CEOs and prominent investors are becoming interested in cricket, which may indicate a change in the direction of American sports.
World cup fever in the US
For the first time, the Men's T20 Cricket World Cup is being held in the United States and the West Indies, and the stakes are high. Major heavyweights such as Shantanu Narayen of Adobe and Satya Nadella of Microsoft have led the drive, investing close to a billion dollars. As franchise owners and investors, these CEOs are actively advancing Major League Cricket.
But what's driving this sudden interest in cricket? It's about tapping into a lucrative market of devoted fans.
The numbers speak for themselves - nearly $850 million is in the pipeline to build a robust cricket league in the US with six professional teams already in play and ambitious plans for the future. Ticket prices for these matches are skyrocketing, with reports suggesting an average price of $1,300 for the India-Pakistan clash.
A recession-proof business?
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Cricket has emerged as a recession-proof business in recent times. Even in its shortest format, cricket could be too long for an American audience that spends less than one hour at NBA games. Despite some scepticism, the cricket fever is spreading across Wall Street and beyond.