The Hundred to sell franchises [Source: @thehundred, @MidnightMusinng/X.com]
England and Wales Cricket Board (ECB) are set to begin the sale of The Hundred franchises in phases. IPL teams, including Mumbai Indians, Sunrisers Hyderabad and Lucknow Super Giants are apparently leading the race to stake a claim for the remaining seven franchises.
After much resistance, the ECB has finally decided to sell significant stakes of The Hundred franchises. GMR group, the co-owned Delhi Capitals, have already signed a deal with Hampshire managed Southern Brave team.
According to Cricbuzz, the sale is set to begin on January 30, with Oval Invincibles being the first team put up for sale. While early expectations suggested that numerous Indian Premier League (IPL) franchises would show interest, only four IPL owners remain in the race.
MI, SRH to stake claim to buy The Hundred franchises
Delhi Capitals has already partnered with Southern Brave, leaving Mumbai Indians (MI), Lucknow Super Giants (LSG), and Sunrisers Hyderabad (SRH) as the remaining contenders for seven available teams. Notably, heavyweights Kolkata Knight Riders (KKR) and Chennai Super Kings (CSK) have withdrawn from the bidding process.
Mumbai Indians, owned by Reliance Industries, and a US tech giant, is reportedly eyeing the Oval Invincibles, managed by Surrey County Club. Initially reluctant to sell, the team’s management appears more open to parting with its stake. The ECB is offering a 49% share with full control.
Following Oval Invincibles, Birmingham Phoenix is expected to be up for sale on the first day. London Spirit and Welsh Fire will be next in line on the second day, followed by Manchester Originals, Trent Rockets, Northern Superchargers, and Southern Brave.
Each sale is expected to either involve sealed bids or e-auctions. Sunrisers Hyderabad is particularly interested in securing Northern Superchargers.
Indian Origin Google CEO to enter the bidding war for The Hundred franchise
In a surprising turn of events, Sundar Pichai, CEO of Google, is reportedly leading a group of Silicon Valley executives bidding to invest in The Hundred Cricket League. Pichai has reportedly submitted a bid worth 80 million pounds for either Oval Invincibles or London Spirit.
The high-profile group also includes Microsoft's Satya Nadella, Adobe's Shantanu Narayen, and Egon Durban of Silver Lake Management. Nadella and Narayen have already invested in Major League Cricket in the United States.