LPL receives major financial boost through Nasdaq-linked investment
The Lanka Premier League (LPL) is set for a major expansion after its promoters, Innovative Production Group FZ, LLC (IPG), secured multi-million-dollar strategic funding through a partnership linked to Nasdaq-listed urban-gro, Inc..
The development comes ahead of the sixth edition of the LPL, which is scheduled to begin on July 10, with organisers promising a bigger and commercially stronger tournament over the next two years.
IPG confirmed that it has completed an all-stock merger with Flash Sports & Media, Inc., bringing its portfolio of T20 league commercial rights — including the LPL — under the publicly governed platform UGRO (NASDAQ: UGRO).
Backed by the new institutional structure, IPG plans to invest USD 20 million into the LPL to enhance the tournament’s global profile, improve monetisation, and modernise production and fan engagement.
According to the organisers, the investment will focus on strengthening sponsorship opportunities, upgrading broadcast production to 4K standards, and creating long-term recurring revenue streams across the league.
While the intellectual property rights of the LPL remain with Sri Lanka Cricket, IPG will continue to hold the league’s exclusive commercial and media rights.
IPG Founder and Chairman Anil Mohan described the deal as a transformative step for the tournament.
“LPL will be the biggest beneficiary of this new development. The integration into a publicly governed structure strengthens our ability to scale the league responsibly,” he said in a statement.
The company also revealed that it intends to expand its footprint into emerging cricket markets such as Zimbabwe and Malaysia, where IPG already holds long-term T20 league agreements. The broader vision is to create an integrated multi-market cricket enterprise across South Asia and other developing territories.
Flash Sports & Media CEO Bradley Nattrass said the partnership would allow the company to execute commercial operations across multiple cricket economies simultaneously while driving deeper sponsor integration and stronger broadcast partnerships.
Season 6 of the LPL will run from July 10 to August 5 and will be played across Colombo, Dambulla and Kandy. The Sinhalese Sports Club (SSC) will make its debut as a venue this season.
The player registration process for overseas players is currently underway, while the player draft is scheduled to take place on May 24.
