IPL team owners set to control The Hundred franchises: Details
What's the story
The England and Wales Cricket Board (ECB) has announced that four Indian Premier League team owners have been appointed as "strategic partners" for teams in The Hundred. The list includes the GMR Group, Sun TV Network Limited, RPSG Group, and Reliance Group. Notably, the owners will get full operational control by October 1 this year. Here are further details.
Financial impact
ECB expects 'hundreds of millions' for game-wide growth
The ECB said these strategic partnerships will unlock "hundreds of millions of pounds for game-wide growth." This comes after the IPL team owners recently acquired their stakes in The Hundred's sides. According to the ECB, two more partners including the Reliance Group will have "a formal completion at a later date."
Stake distribution
Ownership stakes in The Hundred teams
The ownership stakes in The Hundred teams are distributed as follows: RPSG Group, the Lucknow Super Giants owners, will hold a 70% stake in Manchester Originals, while Sun TV Network Limited will have 100% ownership of the Northern Superchargers. GMR Group, the co-owners of Delhi Capitals, will own a 49% stake in Southern Brave team. Tech Titans and Knighthead Capital Management LLC also have similar stakes in London Spirit and Birmingham Phoenix respectively.
Future plans
ECB's vision for The Hundred
The ECB envisions The Hundred as a platform to bring "world-class expertise from global sport, media, technology, and finance." "Each new investor brings a tailored vision and expertise to their team, reflecting the growing commercial and cultural momentum behind The Hundred," the board added. It is worth noting that the deals will add over £500 million between professional counties and grassroots cricket.
Ownership retention
ECB retains ownership of The Hundred
Despite the new partnerships, the ECB has retained full ownership of The Hundred. This means it still controls "key areas such as regulations and the duration of the tournament." A new board with ECB representatives and teams including both investors and host clubs will be formed to have "delegated authority over certain defined matters relating to the strategic direction and commercial growth."