‘Seminal moment’ – stakes sold in six Hundred teams

The England and Wales Cricket Board has confirmed that six of The Hundred teams’ stakes sales have been completed.

Although Trent Rockets and Oval Invincibles investments are not yet complete, they “remain on track.”

The Sun Group, who owns Sunrisers Hyderabad’ Indian Premier League (IPL), has purchased a 100% stake in Northern Superchargers, a Yorkshire-based club with a base in Headingley, for just over £100 million.

GMR Group, the owner of Delhi Capitals, has purchased 49% of Southern Brave, while RPSG Group, which owns Lucknow Super Giants in the IPL and Durban’s Super Giants in the SA20, has purchased 70% of the business.

London Spirit, Birmingham Phoenix, and Welsh Fire have all been purchased by American-based companies Tech Titans (49%), Knighthead Capital Management (49%), and Washington Freedom (50%), respectively.

The England and Wales Cricket Board (ECB) will now distribute the proceeds of the eight teams’ professional counties and at least £50 million for grassroots cricket, totaling 975 million. More than 500 million of that money will be used to fund the eight teams’ valuations.

The Hundred has already contributed significantly to the growth of cricket in England and Wales, according to ECB chair Richard Thompson, by drawing in new fans, promoting the women’s game, and providing high-quality entertainment. How much potential is still untapped is reflected in the sheer breadth of global interest we’ve seen throughout this process.

We’re entering a revolutionary new phase and a pivotal moment for cricket in England and Wales with these new partners in place. Their global perspective and track record in world-class sports and business will enable us to reimagine what is possible, from growing fan bases to attracting even more world-class players.

“Crucially speaking, this investment will not only propel the growth of the competition, but it will also direct the money’s professional counties and grassroots games.

This will help ensure that cricket continues to thrive at all levels in England and Wales for generations to come, contributing to our larger goals of becoming the nation’s most inclusive sport and promoting cricket in underserved and harder-to-access regions.

The regulation and playing window are still under the control of the ECB, with the competition still in the hands of the ECB.

The Hundred’s strategic direction and commercial growth will be determined by the creation of a new board made up of ECB representatives and the teams, including player salaries, player salaries, and player draft and retention mechanisms.