The England and Wales Cricket Board (ECB) is managing a wave of global investment interest in The Hundred franchises while assuring fans that English cricket will maintain its identity. The second-round bidding process, now closed, has attracted major interest from IPL franchise owners and U.S. investors, including figures like Manchester United co-owner Avram Glazer and private equity firms such as CVC Capital Partners.
ECB Chairman Richard Thompson emphasized that the process is not an "IPL takeover." Instead, the board seeks a balance between traditional cricket values and global franchise expertise, describing the involvement of sophisticated American investors as a promising long-term collaboration. "We invented the sport; they invented the franchise," Thompson remarked, highlighting the mutual strengths in this partnership.
Funds raised from selling 49% stakes in the eight Hundred franchises—targeting £350 million—will support counties, the MCC, and grassroots cricket. Strategic alliances are prioritized over the highest bids, with counties like Surrey and Warwickshire keen to retain majority ownership.
Interest has been "unprecedented," according to Tim Bridge from Deloitte, reflecting cricket's rising global appeal. High-profile names such as Ryan Reynolds and Rob McElhenny have also shown interest in Welsh Fire, further diversifying the field of potential investors.
This initiative represents a transformative moment for English cricket, aiming to merge its heritage with modern financial opportunities. Discussions will continue into 2024, with contracts expected to be finalized by April, marking the start of a new chapter for the sport.