Bollywood-backed European cricket league hires Oakvale Capital
The Bollywood-backed European T20 Premier League (ETPL) has hired London-based investment bank Oakvale Capital as organisers look to launch next year.
ETPL, a collaboration between the cricket boards of Ireland, Scotland and the Netherlands, had been due to debut this summer but the plans were shelved at a few weeks’ notice.
Organisers have now hired sport and entertainment specialists Oakvale Capital as exclusive investment banker with a remit to raise funds and find buyers for franchises.
“Oakvale is one of the leading London-based investment banks in the sports and gaming ecosystem,” said co-owner and director Saurav Banerjee. “Their sector depth, global network, and track record advising rights-holders, clubs, and technology platforms make them the right partner for ETPL as we scale.”
ETPL’s other owners include Bollywood superstar Abhishek Bachchan, who has a reported net worth of £24m.
Who is Oakvale Capital?
Oakvale worked on the Professional Triathletes Organisation’s recent £30m fundraise, which saw Saudi vehicle Surj Sports Investment back the PTO and its T100 tour.
“Oakvale’s deep expertise in sports finance will be a game-changer for ETPL’s long-term vision. We look forward to working closely with their expert team to help bring our event to fruition,” said Warren Deutrom, CEO, Cricket Ireland.
ETPL has approval from the International Cricket Council, is expected to involve six franchises based in Dublin, Belfast, Edinburgh, Glasgow, Amsterdam and Rotterdam and take place during the middle of summer.
Some of its team investors are reported to be among those who invested in The Hundred this year, causing delays in signing off deals that ultimately held up the launch of ETPL.
“We’re excited to support ETPL’s bold and innovative approach to cricket,” said Oakvale partner Sandford Loudon. “The vision to elevate the sport in Europe with a premium, differentiated offering aligns well with Oakvale’s strategic focus in global sports properties.”