The Hundred’s ownership structure was very recently, and drastically, changed. This change demonstrates the growing popularity among overseas investors in England and Wales’ domestic cricket league. Six of the eight franchises in The Hundred have new owners, purchased by other investment groups. From these sales, more than £500 million has been raised! The money, which will be pumped into establishing grassroots cricket with a minimum of £50 million for community-focused projects.
The Welsh Fire franchise has the most powerful ownership stake in the American hybrid Washington Freedom. This creative, skilled maker community was behind a huge investment in Edgbaston. As ECB chair Richard Thompson explained, this is not just any old asset sell-off. In it, he claimed that the franchises had been sold to “provide the means to continue growing the competition,” making it more sustainable and attractive.
Todd Boehly and Cain have come onto the group of new stake holders along side Washington Freedom. They are notorious for their fiscal austerity, and in particular their massive investments in soccer. Thompson commented on that broadening of the types of investors coming into cricket, saying, “We’ve got people who’ve never invested in cricket before.” He also pointed out that the way the competition is structured makes bigger financial influxes possible, especially international dollars.
It’s Knighthead Capital Management that takes a 49% of Birmingham Phoenix, disrupting the ownership picture. In parallel, Warwickshire County Cricket Club farcically retains the other 51% of the ownership. We’re happy to announce that RPSG Group have acquired a majority stake in Manchester Originals! This notable purchase underscores a larger trend. Four teams in The Hundred are now owned by companies that own pieces of Indian Premier League (IPL) teams.
The London Spirit franchise has further piqued American investment interest through Tech Titans, which owns a 49% minority stake. This trend underscores the increasing crossover between cricket and other major sports, particularly as global investors recognize the potential in cricket’s domestic competitions.
As much as there is excitement about these recent shifts, Thompson was candid about the challenges that lie ahead. He explained that “we don’t have the domestic competition that brings in anywhere near the revenue that rugby or football has.” He bemoaned the need to establish a robust domestic infrastructure to augment test cricket’s allure.
Of the other franchises, Oval Invincibles and Trent Rockets are in the process of being sold. This ongoing evolution in ownership reflects a broader strategy aimed at rebalancing income generation within English cricket, encouraging fresh investment and engagement.
“We’re entering an exciting new phase and a seminal moment for cricket in England and Wales.” – Richard Thompson
Leave a Reply