The Lanka Premier League (LPL) is set to enter a new phase of growth as league promoter Innovative Production Group FZ, LLC (IPG) secures fresh financial backing through a strategic merger with United States-based Flash Sports & Media Inc.
The all-stock merger brings IPG’s cricket league commercial rights portfolio, including the LPL, under the publicly listed NASDAQ platform UGRO, creating a stronger commercial foundation for the tournament. With the new structure in place, IPG has announced plans to invest US$20 million into the Lanka Premier League over the next two years to enhance the tournament’s commercial value, strengthen broadcast capabilities, and expand its international reach across key cricket markets.
IPG Merger Creates Stronger Commercial Platform for LPL
IPG confirmed the completion of its merger with Flash Sports & Media, positioning its portfolio of T20 league rights under a publicly listed platform. The move is expected to provide the Lanka Premier League with greater access to institutional capital, improved governance structures, and long-term strategic support.
While Sri Lanka Cricket will continue to retain ownership of the intellectual property rights of the tournament, IPG will maintain exclusive commercial and media rights for the league. The partnership structure aims to support sustainable growth through enhanced franchise development, improved operational standards, and stronger global positioning.
New Investment to Drive International Expansion
The planned US$20 million investment is expected to support multiple areas of LPL development, including improved production quality, expanded broadcasting opportunities, stronger commercial partnerships, and initiatives aimed at increasing the league’s global visibility.
IPG stated that the strengthened financial framework will enable the tournament to progress with a more structured growth strategy while creating greater value for franchises, players, fans, and commercial partners.
Commenting on the development, IPG Founder and Chairman Anil Mohan said the transition would provide the LPL with a stronger foundation for future success by enhancing transparency, governance standards, and long-term commercial planning.
He added that the new structure would help increase franchise value responsibly while supporting the league’s ambition of becoming a globally recognised T20 cricket competition.
With the sixth season of the Lanka Premier League approaching, the partnership between IPG and UGRO marks a significant milestone in Sri Lanka’s cricket business landscape, positioning the tournament for greater international exposure and sustainable growth.