New Delhi: Some 128 years after its last appearance, cricket is getting closer to making a comeback in the Olympics, and there is growing optimism that it will be included in the Games in Los Angeles in 2028 and beyond.

According to sources, it is now "very likely" that men's and women's Twenty20 matches, in which gold medals are on the line, will be accepted for inclusion in the Olympics, creating a potentially lucrative commercial market in the Asian subcontinent.

The proposed format calls for five teams to compete in each competition, with qualification determined by the world rankings of the International Cricket Council. Since a single gold medal match at the 1900 Games in Paris, there hasn't been any Olympic cricket.

Also Read: Ashwin Praises Umpire Nitin Menon's Fairness in Steve Smith Run-Out Controversy

A women's T20 tournament at the 2022 Commonwealth Games in Birmingham would also mark the accomplishment of a long-term goal for the ICC, whose previous disregard for the Olympics has been replaced by a desire to grow the sport internationally in recent years.

The International Olympic Committee, which selected cricket as one of nine sports for LA 2028 along with baseball/softball, flag football, lacrosse, breakdancing, karate, kickboxing, squash, and motorsport, also has a strong financial incentive.

The current Olympic broadcast rights in India are sold for specific Games, and it is estimated that Paris 2024's rights will only fetch £15.6 million (approx. 128 Crores INR). However, according to industry insiders who spoke to the Guardian, if cricket is included in LA in 2028 and then Brisbane in 2032, this figure could be worth up to £150 (approx. 1200 Crores INR) million depending on the format and the number of guaranteed matches for India.

Also Read: Yusuf Pathan's Vintage Power-Hitting Puts Joburg Buffaloes in Zim Afro T10 Final!

The only obstacle that is considered to be realistic is commercial agreements. But it does mean that holding the men's T20 World Cup in the West Indies and the USA in June is essential, despite recent reports that it might be moved to England due to worries about the States' infrastructure; reports that are still being downplayed by the ICC and the England and Wales Cricket Board.

England would compete as Team GB if cricket is chosen to compete in LA, a decision on which is anticipated before the end of the year. West Indies qualified for the 2022 Commonwealth Games through the rankings, and Barbados represented them after a regional qualifier.

With Major League Cricket, a franchise Twenty20 league with international players, about to wrap up its inaugural season, the sport would also continue to spread across the United States.

Also Read: Fans Raise Concerns over Physical Ticketing for 2023 World Cup in India