Todd Boehly, the owner of Chelsea Football Club, has agreed to acquire a 49% stake in the Trent Rockets, one of the teams in The Hundred cricket competition. Nottinghamshire will retain control of the remaining 51%. This acquisition is part of a broader trend that has seen stakes in seven Hundred teams sold, generating over £500 million in total sales.
Cain International, the investment firm co-owned by Boehly, will invest just under £40 million for its share in the Trent Rockets. This valuation places the entire franchise at £79 million, reflecting the significant commercial interest in The Hundred's unique format. With this transaction, Nottinghamshire becomes the fifth team to sell a 49% share of their Hundred franchise, following in the footsteps of other counties such as Surrey and Yorkshire.
Surrey recently negotiated a deal worth £60 million with the owners of the IPL team Mumbai Indians for a 49% stake in Oval Invincibles. Meanwhile, Yorkshire made headlines by selling their entire stake in Northern Superchargers to Sun Group, owners of Sunrisers Hyderabad, for over £100 million. Lancashire was also a pioneer in this movement, having been the first county to sell part of their share when they agreed to a deal for 70% of Manchester Originals with IPL's Lucknow Super Giants for approximately £81 million.
The influx of capital from these sales will significantly benefit England's domestic cricket landscape. Primarily, the funds raised will be distributed among the 18 first-class counties, the Marylebone Cricket Club (MCC), and grassroots recreational cricket initiatives. This financial boost is expected to enhance the overall quality and reach of cricket across the country.
All recent agreements, including Boehly's acquisition of the Trent Rockets stake, are now entering an eight-week exclusivity period. During this time, parties involved will work to finalize partnership details and ensure smooth transitions. The Southern Brave is expected to follow suit later this week, becoming the eighth and final franchise to be sold.
In May 2022, Todd Boehly led a consortium that purchased Premier League club Chelsea for a staggering £4.25 billion. His interest in acquiring stakes in cricket franchises underscores his broader investment strategy within the sports industry.
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