Indian-American-led GSV to invest US$ 2.4bn on U.S stadia

MUMBAI: Gujarat-born Indian-American-led sports development company Global Sports Ventures (GSV) has announced plans to invest US$ 2.4 billion (Rs 161.8 billion) into developing the business and infrastructure of cricket across eight states of the U.S.

ICC had expressed its wish to host a World T20 in the U.S before 2020.

The announcement is the next one in a series of commitments GSV made to develop a business and infrastructure for the growing a sports cricket in the US. In September, GSV agreed to a US$ 70 million deal with the USA Cricket Association (USACA) for the licensing rights to a domestic Twenty 20 League.

GSV will focus on creating a professional league and building stadium in New York, Georgia, California, New Jersey, Texas, Illinois, Washington DC, and Florida, which are capable of hosting International Cricket Council (ICC) tournaments.

GSV chairman Jignesh Pandya said that they were delighted to receive so much positive feedback and commitment from officials on a state level, and they were dedicated to working with local communities and businesses to provide an estimated economic output upwards of US$100 million per city.

The company estimated that each stadium will have the seat capacity of over 26,000 and will cost US$ 300 million. But, it will create in excess of 1700 new jobs while expanding the game of cricket in the U.S.

San Francisco?s Centre for Economic Development executive director Dennis Conaghan said that they were excited to welcome the opportunity that Global Sports Ventures had brought them as it would be a great addition to the professional sports network that they had in San Francisco.

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