Over six Indian Premier League (IPL) franchises have officially shown interest in The Hundred, the 100-ball league managed by the England and Wales Cricket Board (ECB). The deadline for first-round bids was Friday, October 18, and most of the interested parties are Indian investors, particularly IPL teams.
According to Cricbuzz, franchises including Chennai Super Kings, Sunrisers Hyderabad, Lucknow Super Giants, Mumbai Indians, Kolkata Knight Riders, and Delhi Capitals have submitted bids. While not confirmed, it’s believed that Rajasthan Royals also bid, along with UP Warriorz, a franchise in the Women’s Premier League (WPL) owned by the Dubai-based Capri Global Group.
Additionally, Avram Glazer’s Lancer Capitals, co-owner of Manchester United and operators of the Desert Vipers in the ILT20, are said to have participated in the bidding. Notably, Royal Challengers Bengaluru, owned by the British firm Diageo, and Punjab Kings chose not to bid for a stake in the English league.
There is currently no confirmation on whether Gujarat Titans are participating in the bidding, but CVC Capital, the owners of the Ahmedabad franchise, do have an office in the UK. Indian officials at CVC are unsure if the UK office has submitted a bid.
Given CVC Capital’s global involvement in various sports properties, there is speculation that they might have expressed interest. Additionally, Gujarat Titans’ operational head, Nick Clarry, is based in London, which further supports the possibility of their involvement.
MI is among several IPL parties interested in bidding for teams in The Hundred
Since this is only the first round of bidding, investors are not required to choose one of the eight teams in The Hundred at this stage. That decision will be made in the second, more significant round, which the ECB has indicated may occur after the IPL auction.
Commercial discussions are also anticipated in the second round, with sources suggesting that the ECB aims for a franchise valuation between £75 million and £100 million.
According to the Information Memorandum (IM) shared by the ECB, the English board currently owns 100% of The Hundred competition and all its teams. It plans to “sell at least 49% of each of the eight teams to new investors who possess the vision, experience, and capabilities to elevate The Hundred.”
Potential investors looking to acquire a 49% stake may need to invest between £40 million and £50 million. The valuation will be determined in the second round of bidding.
The remaining 51% will remain with the counties affiliated with each team, making the new investors partners in a joint venture with those counties. Investors can also choose to purchase part or all of the counties’ 51%. The relevant section of the IM states:
“ECB intends to gift its remaining stake in each team to their respective hosts, fostering a lasting partnership between new investors and some of the world’s most iconic cricket institutions.”
“Additionally, hosts will have the option to sell a portion of their equity in the teams to new investors, providing a pathway to a controlling position.”
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