Two more LPL franchises find new owners

By Amindha de Alwis

The Colombo-based and Kandy-based Lanka Premier League (LPL) franchises have found new owners prior to the second edition of the tournament slated to commence in December. 

The Colombo franchise has been acquired by CEO and President of 27th Investments LLC Anil Damani while Safexpay founder and CEO Ravi Gupta, and Vernost Technologies LLC director Pankaj Tripathi come together as co-owners of the Kandy franchise.

27th Investments is an investment company based in Atlanta, USA while Safexpay and Vernost Technologies are India-based FinTech and IT companies respectively. 

The developments mean that four of the five franchises that took part in the inaugural edition of the LPL last year find themselves under new ownership.

The former Dambulla Viiking franchise, was acquired by London-based HAMRO CEO Q. Khan in September and has been renamed Dambulla Giants.

The decision that caused the most controversy, however, was the termination of the Jaffna Stallions franchise citing persistent breach of obligations. Jaffna Stallions emerged champions in last year’s edition of the tournament and were also widely viewed to be the most well-operated of the five franchises. 

Following the terminating of the ownership of Jaffna Stallions, Allirajah Subaskaran, Chairman of Lyca Group was appointed the rights holder of the Jaffna-based franchise which has been renamed Jaffna Kings.

The second edition of the LPL is set to take place from December 5 to 23 with the first round of 20 games to be played in Colombo and the play-offs and final to be held in Hambantota.