Vikram Banerjee has been appointed as the managing director of The Hundred by the England and Wales Cricket Board (ECB). This strategic move comes in the wake of successful sales of stakes in The Hundred franchises, which have collectively raised over £500 million. Among these sales, the most notable was a £145 million deal for a 49% stake in the London Spirit, led by a consortium under Nikesh Arora. Banerjee, who is 40 years old, previously served as the ECB's director of business operations and played a pivotal role in overseeing these transactions.
The sales of stakes in The Hundred franchises have attracted significant interest from global investors, particularly from the Indian Premier League (IPL). Southern Brave and Northern Superchargers were fully acquired by IPL entities Delhi Capitals and Sun Group, respectively. Additionally, Lancashire's 70% stake in Manchester Originals was sold to the owners of IPL side Lucknow Super Giants for around £81 million. Meanwhile, the Mumbai Indians' owners secured a 49% share in Oval Invincibles for £60 million, making them the fourth IPL team to invest in The Hundred.
Chelsea owner Todd Boehly also joined the fray, agreeing to a deal just under £40 million for a 49% share in Trent Rockets. Warwickshire followed suit, selling a similar stake in Birmingham Phoenix to Birmingham City owners Knighthead Capital for £40 million. Glamorgan completed a sale of the same proportion in Welsh Fire to IT entrepreneur Sanjay Govil for another £40 million.
"I'm delighted to be taking on this new role, and to be able to drive the competition forward, building on the success of the competition so far and working with a new group of partners who bring such an impressive range of skills and expertise from the very best of global sport and industry." – Vikram Banerjee
The new investments have elevated the combined value of the eight Hundred teams to over £950 million. All transactions are now within an eight-week exclusivity period, with expectations for finalization before the new season commences. The funds raised through these sales will be distributed among the ECB's 18 professional counties, Marleybone Cricket Club (MCC), and domestic cricket operations.
"Vikram has led the work to attract new partners into the competition superbly, and is the perfect person to now conclude these deals and work with the teams and investors to take The Hundred to the next level over the coming years." – Richard Gould
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