Saudi wealth fund eyes stake in UK cricket franchise
Saudi Arabia is set to increase its strategy of investing in international sports brand following reports that the Public Investment Fund (PIF) is considering acquiring a share in the Hundred, the UK’s cricket league.
The Hundred is a one-day cricket format launched by the England and Wales Cricket Board (ECB) in 2021.
According to a report by The Times newspaper, the PIF is set to bankroll the addition of a ninth team to the franchise that will be based in Durham in the Northeast of England.
Saudi wealth fund leads Newcastle Utd takeover
The move follows the ECB’s decision to attract more private investment into the Hundred by selling shares of up to 49% in each team with the ECB retaining the majority share.
There are no financial details as yet of what would be Saudi Arabia’s first foray into cricket.
The PIF has been a prolific investor in other sports though, having bought English Premiership football club Newcastle United and started its own golf franchise in recent years.
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