Andy Devaney
In a move that makes the old county circuit look like it’s still riding around in a horse and cart, The Hundred has just closed six blockbuster franchise deals that would make Wall Street blush.
The England and Wales Cricket Board (ECB) confirmed today that the first wave of team ownership agreements is officially done and dusted — and if you’re still wondering whether The Hundred was built to last, try arguing with £975 million in total team valuations and over £500 million in fresh investment.
That’s not just a financial windfall — it’s a seismic shift in how cricket is run in this country.
With the ink now dry on six franchise agreements (and two more teetering on the brink of formal completion), The Hundred becomes the first UK sports competition to undergo a transformation of this magnitude. Tech billionaires, global sports giants, and private equity heavyweights have all muscled in, each bringing their own brand of ambition — and cash — to what is quickly becoming cricket’s boldest experiment.
Let’s take a breath and run through the lineup.
The Magnificent Six
- London Spirit – 49% stake snapped up by Tech Titans, led by Nikesh Arora and Egon Durban, who become the first ever external partners of the Marylebone Cricket Club in its 238-year history. Talk about rewriting the old boys’ playbook.
- Birmingham Phoenix – 49% acquired by Knighthead Capital, doubling down on their Birmingham investment like they’ve just hit on 18 and want another card.
- Manchester Originals – 70% now in the hands of India’s RPSG Group, headed by Dr Sanjiv Goenka, who sees this as more than just a team — it’s a societal movement.
- Northern Superchargers – Fully bought out (100%) by Sun TV Network, with Kaviya Maran pledging to build on Yorkshire’s legacy while ushering in a new wave of youthful fandom.
- Southern Brave – GMR Group takes 49%, eyeing the South Coast as cricket’s next global hotspot.
- Welsh Fire – Now 50% co-owned by Washington Freedom, with Sanjay Govil promising to blend Fire’s homegrown flair with Freedom’s “positive team culture.”
The remaining pair — Oval Invincibles (Reliance Group) and Trent Rockets (Cain International & Ares Management) — are expected to officially close their deals shortly. No hiccups expected.
A Billion Reasons to Care
When the dust settles, over £500 million will be injected straight into the veins of the English and Welsh cricket ecosystem. That includes a £50 million ring-fenced fund for grassroots cricket — because it’s hard to fill stadiums if kids don’t pick up bats.
Richard Thompson, ECB Chair and not a man usually prone to hyperbole, called it a “seminal moment” for cricket: “The Hundred has already played a vital role in growing cricket in England and Wales — attracting new audiences, elevating the women’s game, and delivering high-quality entertainment.”
He added that the global investor interest highlights untapped potential, and the new partners will help deepen fan engagement and lure even more world-class talent: “Crucially, this investment will not only fuel the competition’s growth but also channel transformative levels of funding into our professional counties and grassroots game… supporting our broader ambitions to become the country’s most inclusive sport.”
What’s Changing?
From October 1, 2025, the new franchise investors will take operational control of their teams. The ECB, however, retains ownership of The Hundred itself — meaning it still calls the shots on competition rules, scheduling, and other league-wide decisions.
A new Hundred Board will be formed, including ECB reps and team stakeholders, with shared control over commercial growth, sponsorships, player wages, and the all-important draft system.
And to those muttering into their pints about cricket being sold off, Thompson might argue this is a shot in the arm, not a shot in the foot. It’s a plan to modernise — not Americanise — the game.
Meet the New Owners, Same as the Old Dreams?
Each investor has their own vision, but they’re all playing from the same globalisation hymn sheet.
- Arora and Durban (London Spirit) want to bring Lord’s to over 1 billion cricket fans around the world.
- Knighthead’s Andrew Shannahan says their backing of Birmingham Phoenix is about “making an even greater impact across sport and community in this city.”
- Sun TV Network’s Kaviya Maran called The Hundred a “game changer,” lauding its appeal to women and younger fans.
- Akash Ambani of Reliance sees Oval Invincibles as a natural extension of the Mumbai Indians empire.
- GMR Group’s Kiran Kumar Grandhi wants to elevate cricket on the South Coast to “new heights.”
It’s a heady blend of heritage, tech, ambition, and yes — marketing speak. But behind all the polished press statements, there’s a real sense that The Hundred has done what English cricket has struggled with for decades: made itself attractive to serious money without tearing the game apart.
A Final Word
Say what you like about the format — purists may still grumble about coloured kits, DJ sets, and short-form gimmicks — but The Hundred has caught the eye of the world’s boardrooms, and that changes everything.
The ECB’s £975 million makeover isn’t just a business deal; it’s a declaration that cricket, at least in this country, is finally playing on the global stage.
And with a billion-pound valuation, The Hundred isn’t just here to stay — it’s here to lead.
