Indian billionaires Sanjiv Goenka and Mukesh Ambani have submitted initial bids for multiple franchises in The Hundred, confirmed by TOI. Both presented their offers to the England and Wales Cricket Board (ECB) in the first bidding round last Friday, intending to acquire stakes in multiple teams, according to insiders.
Other bidders reportedly include the Glazer siblings, majority owners of Manchester United, and Jonathan Goldstein, Chelsea Football Club director.
The Hundred is a 100-ball cricket tournament that launched in 2021 with eight teams at iconic UK venues. For the first time, the ECB is selling 49% of each team to investors through a three-round bidding process.
Ambani’s sports portfolio includes Mumbai Indians in the IPL and three T20 teams: MI Cape Town, MI New York, and MI Emirates. If Ambani acquires London Spirit, based at Lord’s, it may be renamed MI London.
Last week, MCC members attended a special meeting to vote on accepting a 51% share offer in London Spirit. Voting remains open until Monday.
Goenka, RPSG Group founder and chairman, owns the IPL’s Lucknow Super Giants and SA20’s Durban Super Giants. He is believed to have bid for several teams in The Hundred.
The ECB, along with the host venue, will decide on successful bids, with announcements expected in 2025. Initial team valuations are estimated at £500 million, and proceeds from the sale will benefit recreational and professional cricket in the UK.
New team owners will receive a share of central revenues, including broadcast rights and sponsorships.
“It wouldn’t be appropriate for us to confirm either the name of interested parties or the value of any of the bids submitted. We are delighted by the level of interest we’ve seen, and the enthusiasm of investors from within the UK and around the world to become part of the competition,” an ECB spokesperson commented.
The Ambani group did not respond, and the RPSG group declined to comment.
_______________________________________________________________________________________
Stay ahead of the latest cricket industry trends by subscribing to our free cricexec “daily briefing” newsletter.
Name of Author: Cricexec Staff
