IPL Franchise Owners Make Waves in England's The Hundred Cricket League
Major Developments in The Hundred
London: On Wednesday, the England and Wales Cricket Board (ECB) announced that four owners of Indian Premier League (IPL) franchises have been designated as 'strategic partners' for teams in 'The Hundred', with operational control expected to be transferred by October 1 of this year.
According to a statement from the ECB, partnerships with these entities, including GMR, Sun TV Network Limited, RPSG Group, and Reliance Group, are anticipated to generate 'hundreds of millions of pounds' aimed at enhancing the sport's growth.
The ECB also indicated that two additional partnerships, including Reliance Group's stake in the Oval Invincibles, are scheduled for formal completion in the near future.
These IPL franchise owners have recently acquired stakes in various teams within The Hundred.
Notably, some owners, such as those from Mumbai Indians, Lucknow Super Giants, and Sunrisers Hyderabad, also have interests in South Africa's leading T20 league, SA20.
The ECB highlighted this milestone as a significant step in the evolution of The Hundred, confirming that agreements have been finalized with the first six strategic partners.
The remaining two partnerships are on track for completion, as the ECB has provided investors the option to finalize their deals later.
RPSG Group, which owns the Lucknow Super Giants, will hold a 70% stake in Manchester Originals, while Sun TV Network Limited, owners of Sunrisers Hyderabad, will fully own the Northern Superchargers.
The GMR Group, co-owners of Delhi Capitals, will possess a 49% stake in Southern Brave.
Other agreements include Tech Titans with a 49% stake in London Spirit, Knighthead Capital Management, LLC holding a similar stake in Birmingham Phoenix, and Washington Freedom acquiring 49% of Welsh Fire.
The ECB noted that two pending deals include Reliance Group's 49% stake in the Oval Invincibles and Cain International & Ares Management's 49% stake in the Trent Rockets.
This momentous occasion marks The Hundred as the first sports competition in the UK to establish franchise partnerships of this magnitude, leveraging expertise from various sectors including global sports, media, technology, and finance.
Each new investor brings a unique vision and expertise to their respective teams, reflecting the increasing commercial and cultural momentum surrounding The Hundred.
The ECB anticipates that over 500 million pounds will be allocated to professional counties and grassroots cricket once all agreements are finalized.
This announcement follows an exclusivity period initiated earlier this year, during which selected investors engaged in final negotiations.
In most instances, investors will collaborate with the host club to operate their franchises in The Hundred, taking over operational control by October 1, 2025.
The ECB stated that collectively, the eight partnerships represent a valuation exceeding 975 million pounds, with more than 500 million pounds earmarked for the English and Welsh cricket ecosystem.
This includes a dedicated commitment of £50 million to grassroots cricket, ensuring the sport's sustainability at all levels, with the remainder allocated to professional counties.
ECB chairman Richard Thompson remarked on the significant global interest observed during this process, emphasizing the untapped potential that remains.
While new partners invest in The Hundred teams, the ECB will maintain full ownership of the competition, retaining control over critical areas such as regulations and the overall structure.
A new board will be formed, comprising ECB representatives and team investors, which will have delegated authority over specific strategic and commercial matters.