From turmoil to a fresh start: Zaheer Khan's Anchor Sports takes over LPL's Jaffna Kings

The Lanka Premier League's most successful franchise has entered a new era. Jaffna Kings have been acquired by Anchor Sports AB, a Stockholm-based global sports ownership group co-owned by former India fast bowler Zaheer Khan, bringing a period of considerable off-field turmoil to a close. Following the takeover, the team has been officially rebranded as Anchor Jaffna Kings.

The move returns stability to a franchise that had been operating under emergency regulatory control, and marks the latest step in Anchor Sports' growing footprint in global franchise cricket.

The new ownership

Anchor Sports AB, co-owned by Zaheer Khan and businessman Nagendra Siddoutam, completed the acquisition as part of the group's continued expansion into the global game. The Stockholm-based company brings a structured, multi-club approach to its new Sri Lankan venture.

Zaheer expressed his enthusiasm at the move, describing being part of Sri Lankan cricket as an owner as something he was genuinely thrilled about. His involvement adds a recognisable and respected cricketing name to the ownership group, lending further credibility to the takeover.

A growing global network

The acquisition integrates Jaffna into an expanding portfolio of teams under the Anchor Sports banner. The group already owns the Antwerp Anchors in the European T20 Premier League in Belgium, as well as the Vancouver Anchors men's and women's teams in Canada's Super 60 League.

By adding an LPL franchise to its network, Anchor Sports continues to build a multi-club model spanning several continents, positioning Jaffna within a broader, professionally managed sporting ecosystem.

The end of a turbulent chapter

The takeover brings much-needed calm after a chaotic period. The franchise had been under the emergency regulatory control of Sri Lanka Cricket (SLC) and the LPL rights holders, Innovative Production Group (IPG), since July 23, when the previous ownership was terminated.

That intervention had become necessary to keep the team functioning amid a financial and administrative crisis. IPG and SLC were forced to step in, deploy emergency funds and assume direct operational control to ensure the side could continue competing in the ongoing season.

The controversy that preceded it

The change of ownership came less than two weeks after the termination of the franchise's previous owners, Sports Commune, which was co-owned by former India Under-19 cricketer Manjot Kalra and entrepreneur Mayank Goel. The circumstances surrounding their departure were serious.

Kalra was arrested on July 16 and, according to reports, remains in judicial custody on charges of alleged match-fixing. It is important to note that these are charges, and the legal process is ongoing. The whereabouts of the other co-owner, Mayank Goel, are reported to be unknown, adding to the uncertainty that engulfed the franchise.

A financial structure that collapsed

The termination of Sports Commune stemmed from a breakdown in the franchise's financial obligations. The commercial framework required sponsors to pay the owners directly, who were then responsible for distributing player and staff salaries.

That pipeline reportedly collapsed in the days following Kalra's arrest. The financial distress became visible on the field, with players said to have taken to the pitch with black tape covering the sponsor logos on their shirts — a stark symbol of the crisis. To stabilise matters, IPG and SLC took over all player, coaching and support-staff contracts.

A history of ownership changes

Sports Commune had only taken ownership of Jaffna in May 2026, having acquired the franchise from the Lyca Group, which had run the team from 2021 to 2025. Before that, in the inaugural LPL season, the franchise was owned by a consortium led by Arnold Anandan and Rahul Sood.

Notably, several of these previous ownership terms ended due to a failure to meet financial obligations, highlighting a recurring instability that the new Anchor Sports regime will be keen to bring to an end.

Dominant despite the chaos

Remarkably, the off-field upheaval has done little to disrupt Jaffna's on-field excellence. The franchise remains comfortably the most successful team in LPL history, having won four of the five completed editions of the tournament.

This season has been no different in terms of performance, with Jaffna topping the group stage to qualify for the playoffs. The squad, featuring the likes of Bangladesh stars Shakib Al Hasan and Towhid Hridoy, has continued to deliver even as its ownership situation was resolved behind the scenes.

A warm welcome

The new arrangement was welcomed by the tournament's rights holders. Anil Mohan, Chairman and CEO of IPG, welcomed Anchor Sports on board, having earlier stressed that the priority throughout the crisis had been to protect the integrity of the Lanka Premier League and ensure stability for players, coaches, partners and fans.

The return of the franchise to a structured, well-resourced ownership environment will be a significant relief to all stakeholders, particularly with the team still in contention for silverware this season.

The final word

The acquisition of Jaffna Kings by Zaheer Khan's Anchor Sports AB represents a fresh and welcome start for a proud franchise that has weathered a genuinely turbulent storm. The rebranded Anchor Jaffna Kings now have the stability and backing of an established global ownership group, allowing the focus to return firmly to the cricket. With the team topping the standings and eyeing further glory, the timing of this new chapter could hardly be better.