The Hundred sale: Four IPL owners among investors entering exclusivity period

The Hundred Sale: Four IPL Owners Among Investors Entering Exclusivity Period

The England and Wales Cricket Board (ECB) has announced that eight parties, including four owners of Indian Premier League (IPL) teams, have entered into exclusivity agreements to purchase The Hundred teams. The incoming investors bring a wealth of expertise in cultivating elite sports teams and businesses, which will help take the competition to the next level.

The four IPL owners who have bought The Hundred teams are:

• Mumbai Indians: Oval Invincibles
• Lucknow SuperGiants: London Spirit
• SunRisers Hyderabad: Northern Superchargers
• Delhi Capitals: Southern Brave

The remaining four teams have been taken by consortiums and individual investors, including Silicon Valley Indian origin tech entrepreneurs and Washington Freedom team owner Sanjay Govil.

The total enterprise value of the eight bids is just over £975 million, with more than £520 million expected to be injected into the professional and recreational game. This will help secure the long-term financial sustainability of the professional counties.

ECB Chair Richard Thompson said, "The partners we have entered into exclusivity with bring a wealth of expertise in cultivating elite sports teams and businesses. Their knowledge can help us in expanding fan engagement locally and globally, creating phenomenal matchday experiences, attracting even more of the game's best players into The Hundred and more."

The ECB has clarified that there are no immediate plans to convert The Hundred into a Twenty20 tournament, but did not rule out the possibility entirely. The board also confirmed that there will be no change in the timings of the matches to suit prime viewing hours in India.

The aim is to finalize the process and unlock the transformative impact that the new partners will bring to the competition, securing funding for the professional counties and recreational game.