The Hundred‘s attempt to privatise and raise investment through the sale of franchises has paved the way for a three-round bidding process, the first of which will begin today (October 18).
The England & Wales Cricket Board (ECB) sent an investment prospectus to over a hundred parties last month and many high-profile names have shown interest.
Hollywood actor Ryan Reynolds, who co-owns Wrexham football club in Wales, is interested in the Welsh Fire team and nine Indian Premier League (IPL) franchises are keen on acquiring a stake.
Barring the Royal Challengers Bengaluru (RCB) and the Torrent Group — the new partners in Gujarat Titans — every other franchise is keen. Even GT’s minority partner CVC are believed to be interested and will participate via their UK arm.
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IPL giants Mumbai Indians, who are expanding their portfolio with teams in different cricket leagues around the world, have been in discussions with both The Lord’s (London Spirit) and The Oval (Oval Invincibles) for long and could end up having a base there.
The GMR group, 50% owners of the Delhi Capitals, are understandably keen for the Southern Brave outfit after a historic deal with Hampshire earlier this month.
GMR’s acquisition of Hampshire Cricket was the first entry of an overseas investor into the English County set-up, and gave them control of Utilita Bowl, the Hilton hotel and a 18-hole golf course adjacent to the cricket ground. It also beefed up GMR’s cricket portfolio which already features teams in the IPL, ILT20 in the UAE and Major League Cricket franchise in the USA.
Birmingham (Birmingham Phoenix) and Leeds (Northern Superchargers) are attracting interest for their strong Indian diaspora. Kolkata Knight Riders (KKR) are keen to enter The Hundred and it will not be a surprise if Rajasthan Royals (RR) go aggressive in their approach too. RR co-owner Manoj Badale is based out of England and it makes sense for them to have some presence in The Hundred too.
Lucknow Supergiants (LSG) owner Sanjeev Goenka is also in touch with Avram Glazer, a shareholder at English Premier League giants Manchester United and NFL team Tampa Bay Buccaneers, who is interested in picking up a stake wherever the opportunity arises. Goenka had bid Rs 7,090 crore for the LSG franchise in 2021 and was previously the owner of the Rising Pune Supergiant in the cash-rich league for the 2016 and 2017 seasons.
More than two dozen Indian parties had shown interest and they were thoroughly vetted by the Raine Group, appointed by the ECB as their “financial advisor”. Next few weeks will give more clarity on India’s presence as ECB looks to keep The Hundred in good health via private investments.