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The England and Wales Cricket Board (ECB) is reportedly going to allow the IPL franchises to rename the eight teams in the Hundred even if they purchase minority stakes during the sales process starting next month. It has been learnt that the ECB are keen to have the Indian capital in the Hundred, with all the 10 IPL franchises looking to bid on its teams.
As per the report from the Guardian, London Spirit are looked upon as the most valuable team in the Hundred, with bids expected to be worth several times more for them in comparison to the other teams in the league. The process of selling the 49% stake of all the eight teams in the Hundred will begin in September with the ECB hoping to generate around £400m, which could include a quarter of money from the sale of London Spirit only.
“All the IPL owners are saying they will bid, but they will want some control for their cash. It's essentially a big brand play for the IPL so we expect them to push for name changes, which will depend on the amount they have invested,” a source involved in the sale process of the Hundred teams was quoted as saying.
A big development around the sale of the Hundred teams involves the Ambani Family, who are expected to go big with their bid for London Spirit, aiming to rebrand it as MI London. Mumbai Indians already have three teams in overseas franchise T20 leagues, including MI Cape Town in South Africa, MI New York in the USA, and MI Emirates in the UAE.
The Oval Invincibles are attracting the most interest among the bidders after London Spirit, due to its location in the heart of the English capital, along with its massive fanbase and huge-ticketing database.
