The influence of the Indian Premier League (IPL) continues to expand into English cricket, with the recent valuation of the Hundred teams surpassing £967 million. In a significant development, Delhi secured control of the Southern Brave in a final auction held on Wednesday. The takeover follows last year's acquisition of Hampshire by the GMR Group, marking another notable IPL connection in the UK cricket landscape.
The England and Wales Cricket Board (ECB) aimed for a diverse array of investors in this venture. However, IPL-linked owners have emerged as prominent stakeholders in four of the eight franchises. Surrey negotiated a £60 million deal with the Mumbai Indians' proprietors for a 49% stake in Oval Invincibles, exemplifying the deepening ties between IPL franchises and the Hundred teams.
The total funds raised from these transactions will be distributed among the 18 counties, Marylebone Cricket Club (MCC), and the domestic game, amounting to more than £500 million. Notably, all agreements have now entered an eight-week exclusivity period, providing time for due diligence and finalization processes.
Among other significant deals, Warwickshire agreed to a 49% sale of Birmingham Phoenix to Knighthead Capital, owners of Birmingham City, for £40 million. Similarly, Glamorgan sold a 49% stake in Welsh Fire to IT entrepreneur Sanjay Govil for the same amount. A consortium led by Nikesh Arora committed £145 million for a 49% share in London Spirit.
Chelsea owner Todd Boehly also made his mark by agreeing to acquire a 49% stake in Trent Rockets for just under £40 million. Additionally, Lancashire became pioneers in selling a 70% share of Manchester Originals to the owners of IPL team Lucknow Super Giants for approximately £81 million.
In another first, Yorkshire decided to sell their entire stake when Sun Group, owners of Sunrisers Hyderabad, agreed to pay just over £100 million for Northern Superchargers. These transactions underscore a broader trend of increasing IPL influence within English cricket's commercial framework.
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