Lyca Group buys Jaffna franchise

The British-based Allirajah Subaskaran, the owner of the Lyca Group of Companies has acquired the ownership of the Jaffna Stallion franchise for the second edition of the Lanka Premier League.

The second edition of the LPL is scheduled to be played in December this year.  Earlier the team was owned by a Consortium consisting of Sri Lankan and Indians, however, their ownership was terminated by LPL organizers in July.

“I have been observing the gradual growth of the LPL. It has turned out to be a spectacular sporting event, and I believe that the LPL can become a major event in the cricketing calendar. Many Sri Lankans globally look forward to this tournament, with better funding and drafting of bigger names, the league is bound to be a global phenomenon, and I don't want to be left out of the party,” the new owner Subaskaran said in a statement.

When asked why he chose the Jaffna team, Mr Allirajah Subaskaran said: “Well, it makes sense to put your money on the team that won last year, and, I do have some sentimental attachments to the North of the Island."

With the LPL Player’s Draft scheduled for next month, the new owner of the Jaffna franchise expects to rope in some big international and local stars. He said, that like last year, he’s confident of having a very competitive team this year too.

The inaugural edition of the Lanka Premier League (LPL) which was played in a bio-secure bubble at the Mahinda Rajapaksa International Cricket Stadium in Hambantota from November 26 till December 16, 2020, reached a cumulative audience of 557 million people through TV, digital-social space, and traditional media outlets. Sponsors enjoyed a media evaluation (visibility) of $54.5m and title sponsor MY11CIRCLE enjoyed a ROI of 9.85x. Winner of the first edition of LPL Jaffna Stallions tops the valuation chart with $3.98m followed by Galle Gladiators ($3.82m), Dambulla Viikings (Now Dambulla Gaints) ($3.54m) Colombo Kings ($3.44m) and Kandy Tuskers ($3.19m).