Absolute Legends Sports Secures Rs 39 Crore Investment from Dubai-Based Brickwork Development
- ByStartupStory | August 24, 2024
Absolute Legends Sports, the promoter behind the popular Legends League Cricket (LLC), has successfully raised Rs 39 crore in a fresh round of investment from Dubai-based real estate company Brickwork Development. The latest infusion of funds comes as the league continues to grow in popularity, bringing retired cricket legends back to the field.
Raman Raheja, cofounder of LLC, shared that the latest funding round places the league’s valuation at Rs 350 crore. Speaking about the investment, Raheja said, “The valuation reaffirms the potential of LLC to continue engaging fans with cricketing legends and providing them with a platform to relive the magic of the game.”
LLC, co-founded by Raman Raheja and Vivek Khushalani, provides a unique opportunity for retired cricket players to earn money while still showcasing their skills on the field. Raheja and Khushalani hold a 60% stake in the league.
The league has attracted a host of renowned players, including Kevin Pieterson, Chris Gayle, Gautam Gambhir, Irfan Pathan, and Harbhajan Singh. These cricketing legends have helped draw in fans and maintain the excitement surrounding the tournament.
LLC currently boasts six franchises: India Capitals (GMR Sports), Gujarat Giants (Adani Sportline), Bhilwara Kings (LNJ Bhilwara Group), Manipal Tigers (Manipal Education and Medical Group), Urbanrisers Hyderabad (Urbanrise Group/Trident Power), and Southern Superstars (KLO Sports).
Highlighting the strong backing from industry leaders, Raheja stated, “The LLC has marquee names like Vikram Singhania of JK Group, Jayant Davar of Sandhar Tec, Sanjay Gupta of Dainik Jagran, and Arvind Singhania of Esther Tech as investors. Their support adds immense value to the league, both in terms of credibility and growth potential.”
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