The race to acquire stakes in The Hundred franchises has entered its final stage, with four Indian Premier League (IPL) franchises and a global tech consortium making the shortlist. The England and Wales Cricket Board (ECB) confirmed that shortlisted investors will now submit binding financial bids, with ownership of the eight teams determined by the highest offers. The new franchise owners will assume control starting from the 2026 season.
Among the IPL franchises in contention are Mumbai Indians, Sunrisers Hyderabad, Lucknow Super Giants, and Delhi Capitals co-owners GMR Group. GMR Group, which recently acquired a majority stake in Hampshire, is one of several major bidders.
A tech consortium led by Nikesh Arora, CEO of Palo Alto Networks, includes prominent figures like Google CEO Sundar Pichai, Microsoft CEO Satya Nadella, Adobe CEO Shantanu Narayen, and Silver Lake Management CEO Egon Durban. The consortium has expressed strong interest in the London Spirit franchise, based at Lord’s. The London teams—Oval Invincibles and London Spirit—have drawn the most interest, with Mumbai Indians and the tech consortium competing for the Invincibles.
Lancer Capital, headed by Manchester United co-owner Avram Glazer, is targeting both London franchises. Meanwhile, Sanjeev Goenka’s RPSG Group, which owns IPL’s Lucknow Super Giants, is pursuing stakes in London Spirit and Manchester Originals. Mumbai Indians are also shortlisted for Manchester Originals, a franchise that appeals to investors due to Manchester’s strong sporting culture and youth demographic. Lancashire, the county hosting the Originals, is reportedly willing to grant new owners control over cricketing operations, attracting IPL franchises.
Sunrisers Hyderabad’s owners, Sun Group, are bidding for Trent Rockets, Northern Superchargers, and Welsh Fire. CVC Capital Partners, owners of Gujarat Titans in the IPL, are in contention for Birmingham Phoenix. However, several IPL franchises, including Kolkata Knight Riders and Chennai Super Kings, have withdrawn their interest, citing concerns about The Hundred’s business model and media rights revenue.
The ECB’s decision to sell 49% stakes in each team initially attracted interest from over 100 investors. While the competition remains intense, potential investors are reportedly cautious about financial returns, with some experts questioning the ECB’s revenue projections. The final bidding process will shape the future of The Hundred, representing a pivotal moment in the commercial evolution of English cricket.
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Name of Author: Cricexec Staff