Former India fast bowler Zaheer Khan has joined an exclusive club of cricketers who have moved beyond the boundary ropes and into the boardroom.
Zaheer has become co-owner of the Jaffna franchise in the Lanka Premier League (LPL) after Stockholm-based global investment group Anchor Sports AB acquired the side, which has now been rebranded as Anchor Jaffna Kings.
While the investment marks Zaheer’s first venture into franchise ownership, it also reflects a much bigger shift taking place across cricket. Nearly two decades after the Indian Premier League (IPL) transformed the economics of the sport, its franchise ownership model is increasingly being replicated across emerging cricket markets.
From IPL blueprint to global franchise portfolios
The IPL fundamentally changed cricket ownership. Franchises are controlled by some of India’s biggest corporate houses, including Reliance Industries (Mumbai Indians), India Cements (Chennai Super Kings), and Red Chillies Entertainment-led consortium (Kolkata Knight Riders). More recently, private equity firms, venture capital and global investors have entered the ecosystem.
Now, similar thinking is beginning to shape leagues beyond India. Anchor Sports already owns the Antwerp Anchors in the European T20 Premier League and both the men’s and women’s Vancouver Anchors in Canada’s Super60 League. The acquisition of Jaffna gives the company presence across three cricket markets.
Instead of viewing individual leagues as standalone businesses, investors are beginning to assemble portfolios of franchises across continents- similar to football’s multi-club ownership groups such as City Football Group and Red Bull. For cricket, that represents a notable evolution.
Athletes are becoming owners, not just ambassadors
Zaheer’s investment also underlines another growing trend: former international cricketers are increasingly becoming equity holders rather than simply commentators or brand ambassadors.
Unlike the IPL, where ownership largely remains with corporate entities, newer franchise leagues are increasingly welcoming former players into leadership and ownership positions.
“I’ve always admired the calibre, innovation and variety of bowling talent that comes out of Sri Lanka,” Zaheer said after the acquisition. “It’s a country I’ve visited, competed in, and hold very fond memories of. To now be part of Sri Lankan cricket as an owner is something I’m genuinely thrilled about.”
LPL Tournament Director Samantha Dodanwela believes Zaheer’s influence will extend well beyond the ownership table.
“Having an owner of Zaheer Khan’s calibre involved with the Jaffna franchise is a real boost for the league. The mentorship and direction he can offer our young Sri Lankan players will be enormous.”
Building on an established legacy
The investment comes with expectations. Jaffna is already the most successful franchise in LPL history, having won four titles in the tournament’s six seasons. The team also sits inside the top two of the ongoing campaign.
LPL chairman Anil Mohan welcomed the new ownership. “We are confident Anchor Sports will build on this remarkable legacy, bring fresh vision and continue to elevate the standard of the Lanka Premier League.”
For Zaheer, the move adds another chapter to a post-retirement career that has included coaching, mentoring and talent development. For cricket’s business, however, it signals something bigger.
The IPL may have created the world’s richest T20 league, but its most enduring legacy could be the ownership model it pioneered, one now travelling well beyond Indian shores as franchise cricket steadily becomes a global investment business.