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On Friday, September 6, the England & Wales Cricket Board (ECB) opened the process to secure private investment into the eight teams participating in the Hundred. After the ECB made an announcement recently about their intention to privatise its T20 competition, established in 2021, the reports have claimed that the teams from the Indian Premier League (IPL), National Football League (NFL), other sporting teams, and private organisations, are showing interest to buy a stake in it.
The ECB are looking to sell 49% stake in each of the teams in the Hundred during the purchase process, while letting them keep 51% stake to themselves. According to the Guardian, London Spirit, who won both the men’s and women’s Hundred competitions last month, are emerging as one of the most valuable teams to buy in the Hundred due to its location, a massive fanbase, and a huge-ticketing database.
Deloitte and Raine Group are co-leading financial advisers to the ECB on the process
Apart from London Spirit, the other seven teams in the Hundred are Birmingham Phoenix, Trent Rockets, Welsh Fire, Southern Brave, Northern Superchargers and Manchester Originals. Deloitte and Raine Group, the co-leading financial advisers to the ECB on the process, are dealing with the potential investors, while Latham & Watkins and Onside Law LLP have also been brought on board as legal co-counsels.
Vikram Banerjee, the ECB Director of Business Operations, who is leading the process to privatise the Hundred in the coming months, spoke at length about what to expect next. He said, “Since announcing our intent to launch this process, we’ve received a phenomenal level of interest from a diverse mix of investors globally. Our priority over the coming months will be to select partners that share our passion and vision for the future of The Hundred, with expertise to take the competition to the next level. Whether that's through creating unforgettable matchday events, engaging new fans, enhancing international awareness of the competition, or other areas.”
He also shared his excitement about the future of the Hundred in regards to how its privatisation will change the game for the players and the fans alike, and said, “This marks the most significant private investment opportunity in the history of cricket in our country and there’s never been a better moment for partners to engage with our sport. Cricket’s global appeal continues to soar and in England and Wales we’ve seen engagement with the sport hit record-levels. We are excited about the future of The Hundred and the opportunity we have to build an iconic competition for players and fans, while underpinning the long-term growth of the domestic game.”
