MI, KKR, and SRH Among IPL Franchises Bidding for Stakes in The Hundred Teams

Several Indian Premier League (IPL) franchises, including Mumbai Indians (MI), Kolkata Knight Riders (KKR), Rajasthan Royals (RR), Sunrisers Hyderabad (SRH), and Lucknow Super Giants (LSG), are reportedly among those bidding for stakes in The Hundred teams, according to ESPNcricinfo. The franchises have submitted bids to acquire up to 49% stakes in one of the eight franchises of The Hundred, an innovative cricket format run by the England and Wales Cricket Board (ECB).

The bids come as part of the ECB’s ongoing efforts to privatize its team ownership structure. Currently, the ECB holds full ownership of each team. However, the governing body is exploring a partial sale, allowing private investors to purchase nearly half of each franchise, aiming to attract global cricket brands and boost the competition’s value and reach.

IPL Franchises Lead the Charge

The submission of bids by IPL teams underscores the increasing global interest in The Hundred, with IPL franchises looking to extend their influence beyond India. Mumbai Indians and Kolkata Knight Riders, two of the most prominent franchises in the IPL, are leading the charge, joined by Rajasthan Royals and Sunrisers Hyderabad. Newer IPL teams like Lucknow Super Giants have also expressed interest, signaling the eagerness of these franchises to expand their footprint in international cricket markets.

The interest in The Hundred is not limited to IPL franchises. GMR Group, which was recently unveiled as the new owner of Hampshire, and Avram Glazer, co-owner of Manchester United Football Club, have also entered the fray. The competition for stakes in The Hundred promises to be intense, with the ECB confirming it received a significant number of bids before the October 18 deadline for expressions of interest.

Bidding Process Overview

The current bidding process is designed as a two-stage system. In the first stage, investors submitted a one-time sum to acquire a 49% stake in one or more of the eight Hundred franchises. In November, the next stage will begin, allowing investors to meet the host counties of each franchise before narrowing down their interest to four teams. Finally, investors will need to further reduce their list to two preferred teams, from which they will select their final choice.

The ECB has indicated that the announcement of the final set of investors could happen as early as 2025. However, the board has made it clear that it will not be rushed into a decision, with ECB Chairman Richard Thompson emphasizing that the board is keen to avoid "underselling" what it considers a valuable product.

Thompson also mentioned that the ECB is open to adopting a hybrid ownership model in 2025, where some teams would remain under ECB ownership while others are owned by private investors. This flexible approach is part of the ECB’s broader strategy to maximize the growth potential of The Hundred and ensure its long-term financial stability.

Mixed Reception and Skepticism

While the prospect of partial ownership in The Hundred has generated excitement among IPL franchises and global investors, it has also been met with some skepticism. Not all IPL teams submitted bids by the October 18 deadline, with Punjab Kings reportedly opting out. It remains unclear whether Chennai Super Kings and CVC Capital Partners, the equity firm that owns Gujarat Titans, have placed bids.

Global sports investors INEOS, led by Jim Ratcliffe and a key stakeholder in Manchester United, have also refrained from bidding for a stake in The Hundred. Lalit Modi, the architect of the IPL, has criticized the ECB's financial projections for The Hundred, arguing that they are "overly optimistic and disconnected from reality."

Despite this criticism, the ECB remains confident in the future of the competition, stating that over 100 potential investors, including those from the USA, have shown interest in the privatization process. Thompson highlighted the unexpectedly high level of interest, saying, "The investment base is way broader and bigger than they expected."

The Hundred’s Global Ambitions

The Hundred, which launched in 2021, has been positioned as a fast-paced alternative to traditional cricket formats, aimed at attracting new audiences, particularly in the UK. However, with increasing interest from IPL franchises and global investors, the tournament is set to extend its influence on the international stage.

For IPL franchises, investment in The Hundred provides an opportunity to gain a foothold in the competitive English cricket market and broaden their global appeal. The inclusion of established cricket brands like Mumbai Indians and Kolkata Knight Riders would enhance the commercial value of the competition and provide a more robust platform for its future growth.

The success of the upcoming privatization process could signal a turning point for The Hundred, potentially transforming it into one of the premier global cricket competitions alongside the IPL and other major T20 leagues. Investors, players, and fans alike will be watching closely as the ECB continues its efforts to reshape the landscape of English domestic cricket.

As the bidding process progresses, The Hundred is likely to gain even more attention from international cricket stakeholders, making it a key player in the evolving world of franchise-based cricket.