ECB finalizes sale of six The Hundred franchises; four IPL team owners involved- Report

The England and Wales Cricket Board (ECB), which started its franchise competition in 2021, opened the auction to outside investment at the end of 2024 for interests in the eight teams in The Hundred.

Due to the English counties' intimate involvement in the management of these franchises, the revenue from these sales has been eagerly awaited and is expected to provide a boost to the domestic game in England. Richard Gould, the CEO of the England and Wales Cricket Board, even referred to it as a "once-in-a-generation" opportunity.

Five more investors have now finalized agreements that were initially reached this year, and Knighthead Capital's investment in Birmingham Phoenix has been approved. Over £500 million was directly invested in English cricket as a result of the sales process, which valued the eight franchises at nearly £1 billion in total.

Four IPL team owners acquire ownership of Hundred teams

However, two acquisitions have taken significantly longer than planned to conclude. After disagreements over the participation agreement, the ECB extended the original eight-week deadline for new investors to complete their paperwork. Now, both the Oval Invincibles and Trent Rockets have been given additional time to finalize their documents.

On Wednesday (July 30), the ECB released a statement saying, “The England and Wales Cricket Board (ECB) today confirmed a landmark achievement in the evolution of The Hundred, with deals now complete with the first six strategic partners for The Hundred teams.

The remaining two are set for formal completion at a later date. They remain on track, in line with the ECB having offered investors the option of completing later.”

The Invincibles will be administered as a joint venture by Surrey (51%) and Reliance (49%), the Indian company that owns the Mumbai Indians and other associated teams around the world.

Cain International, whose co-founders Todd Boehly and Jonathan Goldstein are members of the consortium that owns Chelsea FC, and private equity firm Ares Management are the Rockets' new investors.

List of confirmed investors in Hundred teams:

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