THE LANKA PREMIER LEAGUE (LPL) has secured multi-million-dollar funding ahead of its Season 6 launch on July 17. LPL promoters, Innovative Production Group (IPG), have completed an all-stock merger with Flash Sports & Media, bringing the league’s commercial rights to NASDAQ-listed platform UGRO.
IPG will invest USD 20 million in the LPL over the next two years. Sri Lanka Cricket retains ownership of the LPL as intellectual property, while IPG continues to hold exclusive commercial and media rights, a media release said.
The move marks a significant moment for IPG and the leagues it manages, positioning them within a publicly governed structure built for scale. Backed by this new institutional structure, IPG will invest to carve out bigger and better version of LPL over next two years. For the LPL, the transition signals the start of a more structured and growth-driven phase. While the LPL remains, intellectual property owned by Sri Lanka Cricket, IPG continues to hold exclusive commercial and media rights now backed by institutional capital, enhanced governance standards, and long-term expansion planning, the release said.
IPG Global Founder & Chairman, Anil Mohan, said, “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. With enhanced transparency, capital access, and governance standards, we are positioned to grow franchise value while maintaining long-term commercial discipline.”
Beyond the LPL, IPG holds long-term exclusive agreements to develop T20 leagues in Malaysia and Zimbabwe, with plans to expand into these markets as part of a broader multi-market cricket enterprise spanning South Asia and other emerging territories.
IPG has outlined plans to centralise sponsorship revenue across leagues, upgrade broadcast production to 4K standards, and develop predictable recurring revenue streams as part of a combined commercial platform focused on long-term asset appreciation, the release added.
