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Elephant Capital Buys Stake In Global Cricket Ventures And Cricket.com

Posted on December 3rd, 2009 by admin in Domain News | No Comments »

Indian based firm Elephant Capital have announced they have picked up a 50% stake in Global Cricket Ventures Ltd (GCV) – the firm that owns the exclusive licenses for digital and mobile rights to the Indian Premier League (IPL) and owns the domain name cricket.com.

The part acquisition is reported to be worth $10 million.

As reported here, the domain name Cricket.com was recently sold to GCV by LiveCurrentMedia for $1.75 million in one of a number of blockbuster domain name sales this year.

“This investment gives Elephant Capital a stake in an exciting online and broadcast media business that has managed to aggregate a collection of excellent sports rights. We believe that with the continued success of the Twenty20 format, the value of these rights will appreciate significantly,” said Gaurav Burman, a Director at Elephant Capital and scion of the Dabur family. His elder brother Mohit Burman, who is also a director at Elephant Capital, owns a stake in IPL team Kings 11 Punjab.

This was and remains one of those underused premium domain names that we all look forward to being developed properly in the near future so it’s good that things are moving in the right direction.

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