Toyam Sports Limited Acquires Hyderabad Franchise in Legends League Cricket for an Undisclosed Amount

Hyderabad, September 18: Toyam Sports Limited has acquired the Hyderabad franchise of the Legends League Cricket, led by former Indian cricketer Suresh Raina. Previously known as the Urbanrisers Hyderabad, the franchise, until now owned by the Urbanrise Group, will now be called Toyam Hyderabad and will participate in the upcoming edition of the Legends League Cricket, starting on September 20. Toyam Sports is a publicly listed company involved in various sports production, promotion, and management activities.

"With a rich history of sporting excellence worldwide, 'Toyam Hyderabad' marks another proud moment for TSL in its journey. We are excited to be part of this season of Legends League Cricket as we step into the illustrious cricketing legacy of Hyderabad. We aim to leave a lasting impact on the team's heritage and inspire future generations of cricket fans across the state and the entire country," said Mohammed Ali R. Budhwani, President and Managing Director of Toyam Sports Limited.

TSL is thrilled to have star cricketer Suresh Raina as the captain of 'Toyam Hyderabad.' His extensive experience playing for the Indian Cricket Team and in the IPL will be a tremendous asset to our journey. His leadership inspires us to pursue the Legends League Cricket 2024 title with confidence.

Recently, Toyam Sports has organized key events such as the global MMA fight night 'Kumite 1 League,' featuring Mike Tyson as its brand ambassador, and 'Kumite 1 Warrior Hunt'—India's first sports reality web series—alongside various T10 and T20 leagues worldwide. Additionally, TSL owned a team in the World Tennis League and has title-sponsored the India vs. Bangladesh ODI series, among others. In terms of sports accessories, Toyam Sports is not only strengthening the sports ecosystem but also venturing into high-quality athletic equipment at affordable prices.

In addition to Toyam Sports Limited owning the 'Toyam Hyderabad' franchise, the majority of this year's Legends League Cricket franchise owners include India Capitals - GMR Group, Southern Stars - a multi-corporate consortium led by Qentelli, Manipal Tigers - Manipal Group, Konark Suryas Odisha - Assoctech Group, and Gujarat Giants - a consortium of Gujarat-based companies.

The acquisition of this franchise in Legends League Cricket aligns with industry trends. This is the second franchise acquisition this season. It is encouraging to see various industry giants entering the sports sector. I am pleased that one of our franchises in the Legends League Cricket has attracted value comparable to other similar but larger deals that have taken place in the IPL, which typically draw 5.5x multiples," said Mr. Raman Raheja, Co-founder of Legends League Cricket, while discussing the introduction of the new franchise. In a similar deal in the IPL in 2018, JSW Sports purchased a 50% stake in Delhi Daredevils, valuing the team at INR 1,100 crore (approximately US$169 million), nearly double the US$84 million the team was sold for in 2008. GMR Sports recouped its initial investment with 50% of its stake, receiving INR 550 crore (or US$84.5 million) in the first such sale.