West Indies legend Chris Gayle has invested in a UK T20 cricket franchise as the sport enjoys a further cash injection after last year’s The Hundred sale. Gayle, regarded as one of the greatest T20 batters of all time, has become co-owner of a Glasgow-based European T20 Premier League (ETPL) franchise, alongside India-based entertainment business the Mugafi Group. The league is co-owned by Bollywood star Abhishek Bachchan alongside an Indian private equity consortium.

Gayle and his consortium saw off a rival bid involving Indian cricketers Rahul Dravid and Ravichandran Ashwin’s bid for the Scottish team, who will be known as the Glasgow Mugafians when the league’s inaugural season takes place this summer. “Stepping into the role of co-owner of Glasgow Mugafians marks an exciting new chapter for me,” Gayle said. “Europe represents cricket’s final frontier, and the ETPL has the potential to unravel promising local talent and nurture future heroes who will strengthen the sport in that region.

I can’t wait to get started on this new journey.” Gayle latest in investment line The ETPL is the latest T20 cricket competition to hit the ever-condensed calendar and will be operated between the governing bodies of the sport from Scotland, Ireland and the Netherlands. The teams are reported to have been sold for more than £10m apiece and will be based in Amsterdam, Rotterdam, Belfast, Dublin, Glasgow and Edinburgh. The investment in Glasgow comes amid a flurry of incoming capital into cricket across the UK.

Minority stakes in all eight franchises in The Hundred across England and Wales sold for around £500m last year, with the white-ball competition teams’ combined value set at around £1bn. The majority of the buyers across the auction process were Indian or Americans with Indian heritage, with the likes of Chelsea co-owner Todd Boehly making up the numbers elsewhere.