Cricket’s superstars to set up $100m academy in NZ
On the eve of the final of the world’s biggest cricket tournament, the ICC World Cup, sources have revealed that cricket greats and superstars from six countries are coming together in an enterprise that will see the setting up of what could be the world’s largest and most professionally run cricket academy in New Zealand.
The academy with a total projected cost of $110 million to be invested in acquiring land, building facilities, equipment and global promotion across three years, will initially have an investment component of $57.1 million in the first phase, which will begin later this year, if all approvals are obtained by the promoter group.
Identities of the 12 main promoters – all present and past cricketing superstars from India, New Zealand, Australia, West Indies, England and Sri Lanka – will be revealed at a mega media event in Mumbai on Monday, April 4, a couple of days after the World Cup final.
All the 12 superstars are currently in India to witness the tournament – some of them even playing in the competing teams – sources close to the proposed academy told Indian Weekender.
The World Stars Cricket Academy, which is registered as a company in the Cayman Islands, has applied to the New Zealand government for the acquisition of a 440 hectare parcel of land in an as yet undisclosed location. The academy’s operations in New Zealand will be subject to several approvals including the most important one from the Overseas Investment Office (OIO).
When contacted by Indian Weekender, the office declined to give details of the application from the World Stars Cricket Academy citing privacy and commercial sensitivity reasons.
But Shishir Nandan Agarwal, who is co-ordinating matters for the academy in New Zealand, Australia and Fiji along with his colleagues Mehmet Istwan, J. Selwyn Mascaranghe and Askaran Naidu revealed to Indian Weekender that the application had indeed been lodged with the office a couple of weeks ago.
The Melbourne based Dr Mascaranghe said all the investment would come into the country in three of four tranches as the academy had solid backers. The company would not look at raising money here in New Zealand, though listing it on New Zealand and Australian stock exchanges was a possibility in the future. But as of now the 12 cricket superstars who are the main promoters of the academy are not looking at diluting their equity in the enterprise, he said.
Six of the superstar cricketers are believed to have visited New Zealand along with other investors to scout for locations and meet real estate companies in the past 18 months, Dr Mascaranghe said.
Mr Agarwal, who shares his time between Invercargill and Cardiff in the UK, said that the South Island was a strong contender for housing the academy. “There is plenty of land, the climate is great and the town councils are very supportive of the idea,” he said. But the final decision on the location of the academy would depend on a number of factors. Asked if the recent earthquakes had brought the promoters around to favouring the North Island, Mr Agarwal said that was not the case.
A source that did not wish to be named told Indian Weekender that Auckland and Hamilton were also in the running as destinations.
Indian Weekender has learned that the idea for the academy has been on the cards for several years now and the 12 players and investors and managers of the enterprise reportedly met in Zurich, Switzerland in January to finalise details that will be formally revealed at Monday’s media conference.
Speaking from Ankara, Turkey, Lead Technical Consultant Mehmet Hosain Istvan said this would be the most advanced cricket academy in the world and will produce the world’s best cricketing talent in all departments of the game.
“There will be a facility that can duplicate any pitch and atmospheric conditions in the world’s great cricketing locations – so we can duplicate the humidity of Chennai or the dryness and heat of Sharjah right there in New Zealand,” he said. These pitches will be housed in three climate controlled stadiums within the academy’s complex.
The academy would also double up as venues for international games including rugby, Mr Istvan said. Mr Istvan, who grew up in Turkey and the UK, is one of the game’s top administrators and infrastructure specialists and has a record of building sports facilities around the world.
None of the officials Indian Weekender spoke to were prepared to reveal the identities of the players who were backing the project. “That will be officially conveyed to the world’s media on Monday next week,” Mr Agarwal said.
However, Indian Weekender’s enquiries in Mumbai have revealed that four Indian legends, two famous Australian, New Zealand and England players each and one each from Sri Lanka and the West Indies will front up for the high profile academy.
On the eve of the final of the world’s biggest cricket tournament, the ICC World Cup, sources have revealed that cricket greats and superstars from six countries are coming together in an enterprise that will see the setting up of what could be the world’s largest and most professionally run...
On the eve of the final of the world’s biggest cricket tournament, the ICC World Cup, sources have revealed that cricket greats and superstars from six countries are coming together in an enterprise that will see the setting up of what could be the world’s largest and most professionally run cricket academy in New Zealand.
The academy with a total projected cost of $110 million to be invested in acquiring land, building facilities, equipment and global promotion across three years, will initially have an investment component of $57.1 million in the first phase, which will begin later this year, if all approvals are obtained by the promoter group.
Identities of the 12 main promoters – all present and past cricketing superstars from India, New Zealand, Australia, West Indies, England and Sri Lanka – will be revealed at a mega media event in Mumbai on Monday, April 4, a couple of days after the World Cup final.
All the 12 superstars are currently in India to witness the tournament – some of them even playing in the competing teams – sources close to the proposed academy told Indian Weekender.
The World Stars Cricket Academy, which is registered as a company in the Cayman Islands, has applied to the New Zealand government for the acquisition of a 440 hectare parcel of land in an as yet undisclosed location. The academy’s operations in New Zealand will be subject to several approvals including the most important one from the Overseas Investment Office (OIO).
When contacted by Indian Weekender, the office declined to give details of the application from the World Stars Cricket Academy citing privacy and commercial sensitivity reasons.
But Shishir Nandan Agarwal, who is co-ordinating matters for the academy in New Zealand, Australia and Fiji along with his colleagues Mehmet Istwan, J. Selwyn Mascaranghe and Askaran Naidu revealed to Indian Weekender that the application had indeed been lodged with the office a couple of weeks ago.
The Melbourne based Dr Mascaranghe said all the investment would come into the country in three of four tranches as the academy had solid backers. The company would not look at raising money here in New Zealand, though listing it on New Zealand and Australian stock exchanges was a possibility in the future. But as of now the 12 cricket superstars who are the main promoters of the academy are not looking at diluting their equity in the enterprise, he said.
Six of the superstar cricketers are believed to have visited New Zealand along with other investors to scout for locations and meet real estate companies in the past 18 months, Dr Mascaranghe said.
Mr Agarwal, who shares his time between Invercargill and Cardiff in the UK, said that the South Island was a strong contender for housing the academy. “There is plenty of land, the climate is great and the town councils are very supportive of the idea,” he said. But the final decision on the location of the academy would depend on a number of factors. Asked if the recent earthquakes had brought the promoters around to favouring the North Island, Mr Agarwal said that was not the case.
A source that did not wish to be named told Indian Weekender that Auckland and Hamilton were also in the running as destinations.
Indian Weekender has learned that the idea for the academy has been on the cards for several years now and the 12 players and investors and managers of the enterprise reportedly met in Zurich, Switzerland in January to finalise details that will be formally revealed at Monday’s media conference.
Speaking from Ankara, Turkey, Lead Technical Consultant Mehmet Hosain Istvan said this would be the most advanced cricket academy in the world and will produce the world’s best cricketing talent in all departments of the game.
“There will be a facility that can duplicate any pitch and atmospheric conditions in the world’s great cricketing locations – so we can duplicate the humidity of Chennai or the dryness and heat of Sharjah right there in New Zealand,” he said. These pitches will be housed in three climate controlled stadiums within the academy’s complex.
The academy would also double up as venues for international games including rugby, Mr Istvan said. Mr Istvan, who grew up in Turkey and the UK, is one of the game’s top administrators and infrastructure specialists and has a record of building sports facilities around the world.
None of the officials Indian Weekender spoke to were prepared to reveal the identities of the players who were backing the project. “That will be officially conveyed to the world’s media on Monday next week,” Mr Agarwal said.
However, Indian Weekender’s enquiries in Mumbai have revealed that four Indian legends, two famous Australian, New Zealand and England players each and one each from Sri Lanka and the West Indies will front up for the high profile academy.
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