Photo Credit: Instagram Photo of @vancityreynolds
The Hundred‘s effort to privatize and attract investment through franchise sales has led to a three-round bidding process, starting today (October 18).
Last month, the England & Wales Cricket Board (ECB) sent an investment prospectus to over a hundred potential investors, attracting interest from several high-profile names.
Hollywood actor Ryan Reynolds, co-owner of Wrexham football club, has shown interest in the Welsh Fire team. Additionally, nine Indian Premier League (IPL) franchises are keen on acquiring stakes.
Excluding Royal Challengers Bengaluru (RCB) and the Torrent Group, which recently partnered with Gujarat Titans, every other IPL franchise is interested. Gujarat Titans’ minority partner, CVC, is also expected to participate through their UK arm.
Mumbai Indians, who are expanding into various cricket leagues worldwide, have been in talks with both London Spirit and Oval Invincibles and could establish a base with one of these teams.
The GMR group, 50% owners of Delhi Capitals, is eyeing the Southern Brave franchise following their acquisition of Hampshire Cricket earlier this month. This deal marked the first entry of an overseas investor into English County cricket, giving GMR control over the Utilita Bowl, a Hilton hotel, and an adjacent 18-hole golf course. This move adds to GMR’s existing cricket portfolio, which includes teams in the IPL, ILT20 in the UAE, and Major League Cricket in the USA.
Birmingham Phoenix and Northern Superchargers are attracting interest due to their strong Indian communities. Kolkata Knight Riders (KKR) are keen to enter The Hundred, and Rajasthan Royals (RR) could also pursue an aggressive approach. RR co-owner Manoj Badale, based in England, sees value in establishing a presence in The Hundred.
Lucknow Supergiants (LSG) owner Sanjeev Goenka has been in contact with Avram Glazer, a shareholder in Manchester United and the NFL’s Tampa Bay Buccaneers, who is interested in acquiring a stake where possible. Goenka had previously bid Rs 7,090 crore for the LSG franchise in 2021 and was the former owner of Rising Pune Supergiant during the 2016 and 2017 IPL seasons.
More than two dozen Indian parties expressed interest, and they were thoroughly vetted by the Raine Group, appointed by the ECB as their financial advisor. The coming weeks will provide further clarity on India’s role as the ECB seeks to secure private investment to sustain The Hundred.
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Name of Author: Cricexec Staff
