Last year, Global Sports Ventures announced plans to establish a professional cricket league in the United States, they have now taken a major step forward by partnering with JLL's Sports and Entertainment Group to help organizers develop multiple stadiums in eight US cities -- including Atlanta -- by 2020.
The JLL Sports & Entertainment Group were instrumental in developing SunTrust Park and The Battery in Cobb County and will work with Global Sports Ventures to develop stadiums and similar lifestyle centers around locations for the fledgling US Cricket League.
The new league will begin in markets where cricket already has a highly established following: the New York-New Jersey area, the Washington, DC area, metro Atlanta, Florida, Texas, Illinois and California. The league plans to expand into four-to-six additional markets after its initial launch in 2020.
“We know our plans are ambitious, and GSV is committed to launching a professional cricket league in the U.S. by 2020,” said GSV chairman Jignesh "Jay" Pandya. “JLL will be a key partner in this endeavor. We are quite impressed with the job they did with the Atlanta Braves at SunTrust Park and The Battery, and other similar stadium centric assignments across the country.”
The average stadium complex will include a cricket stadium, parking, club house, restaurants, hotels, retail, residential and office space. Each development will be individually designed to create an exciting and interactive lifestyle center while generating a significant economic impact for each city. Global Sports Ventures estimates the first eight stadium complexes represent a $2.4 billion investment and will create about 17,000 jobs.
JLL says they have started the site selection process for the new stadiums and mixed-use developments, and they are reviewing multiple locations within each of the eight targeted markets. The stadiums themselves are expected to cost between $70-and-$125 million to construct, with the associated development projects adding an additional $80-to-$100 million of mixed-use property. The group expects to reveal the initially targeted sites shortly.
"Our Sports & Entertainment Group is in the unique position of offering development advisory services for each step of this important process," said David Demerast, International Director at JLL. "Each cricket-anchored development will create hundreds of temporary and permanent jobs to the local economies and enhance the overall infrastructure for each community."