The sale of stakes in the eight teams in The Hundred is almost complete as English cricket receives a significant injection of cash.
The eight franchises have been sold in part or in full to private investors after a bidding process run by Deloitte and the Raine Group in conjunction with the England and Wales Cricket Board (ECB), who launched the short-format competition in 2021.
While controversial with investors afforded a powerful say in the running of the sport, the lucrative deals and resulting windfall come as welcome news for counties who have been struggling financially, as well as the recreational game, which will receive a boost in funding.
Among those to invest are owners of IPL sides and franchises in other competitions around the world, with each now hoping to further develop a tournament that remains highly divisive.
With the bidding process almost complete ahead of a period of exclusivity to get deals done, here is who is set to invest in each of the eight teams:
London Spirit
A Silicon Valley-based tech consortium led by Nikesh Arora, chief executive of cyber-security firm Palo Alto, valued the Lord’s franchise at just short of £300m as they took a 49 per cent stake. The Marylebone Cricket Club (MCC) retain the majority share and will now work with a group that includes significant figures at Microsoft, Apple and Adobe and has been involved in Major League Cricket in the United States.
Oval Invincibles
The Ambani family spent £60m on a 49 per cent stake in the other London side. Reliance Industries Limited, chaired by patriarch and Asia’s richest man Mukesh Ambani, have forged an impressive cricketing portfolio that includes the Mumbai Indians of the IPL, recent SA20 winners MI Cape Town, MI Emirates in the ILT20 and MI New York of Major League Cricket. The Oval Invincibles are the most successful Hundred franchise with two men’s and two women’s titles.
Birmingham Phoenix
Birmingham City owners Knighthead Capital invest again in a sporting property in England’s second-largest city by paying £40m for their near-half stake. Fronted by co-founder Tom Wagner, NFL great Tom Brady is a minority shareholder.
Manchester Originals
Lancashire opted to sell part of their portion of the Manchester Originals to investors RPSG Group, who now have a controlling stake of 70 per cent in return for £81m. Founded by Sanjiv Goenka, RPSG own the Lucknow Super Giants in the IPL and Durban’s Super Giants in the SA20.
Northern Superchargers
The Northern Superchargers are the only Hundred side so far to have been bought in their entirety, with the Sun Group purchasing both the 49% from the ECB and Yorkshire’s 51% as the Headingley county seek to clear their debts and build a more sustainable financial future. Yorkshire will keep 80% of the revenue from the sale of their 51% stake, which will provide the club with an injection of around £40m from the owners of the IPL’s Sunrisers Hyderabad.
Welsh Fire
Indian-American businessman Sanjay Govil has paid £40m for 49% of the Cardiff franchise, adding it to a portfolio that includes the Washington Freedom in Major League Cricket. Ryan Reynolds and Rob McElhenney, the Wrexham co-owners, held talks with Glamorgan over a possible deal but dropped out before the final round of bidding.
Trent Rockets
The investors in the the Nottingham-based team are yet to be confirmed, with news expected shortly.
Southern Brave
Situated in Southampton, the Brave are also still up for grabs, though GMR Group are likely to be strong contenders. The owners of the Delhi Capitals completed a takeover of Hampshire last year and could look to further grow their influence within English cricket at the Utilita Bowl.
