After the successful inaugural edition, Legends League Cricket is all set to expand its wing with the addition of a new tournament, which will include private franchises. Absolute Legends Sports, which owns the LLC, has invited leading International Cricket franchises and corporates to buy four teams that would play the second edition, slated to commence in September 2022.
The CEO of Absolute Legends Sports, Raman Raheja has confirmed the news and informed that they have received a favourable response from two IPL team owners, franchises from the Pakistan Super League and South African leagues. The base price for the franchise has been kept at $600,000.
“We expect the franchises to spend around $15 million over ten years and have kept the base price at $600,000. The way is structured, most of the franchises can achieve break-even from the second season,” Raheja informed. LLC organisers have claimed that the tournament’s first edition was the second most-watched international T20 league in India after the IPL, as it featured ex-cricketers playing competitive cricket.
According to Raman Raheja, the teams will have a player cap of $1.2 million, and it will follow a draft model. He further added, saying that the company will share 50 per cent of the central revenue pool with the franchise, which will include media rights, on-ground sponsorships as well as gate revenues.
“From next year, we may add two more franchises and then the revenue share will be 60:40 in the franchise’s favour,” he said. He further informed that organisers always had a plan to have two seasons in a year- first a tri-nation tournament, like the one held in January, followed by a franchise format one. The organisers plan to start the franchise format in March next year but have advanced the plans now.
Meanwhile, the inaugural season of the Legends League Cricket was played between the three teams – India Maharajas, Asia Lions and World Giants. The tournament took place in January this year. World Giants topped the points table with three wins and went on to lift the trophy by beating Asia Lions in the final.