Indian Billionaires Bid for Multiple Hundred Franchises

Indian billionaires Sanjiv Goenka and Mukesh Ambani have made significant bids for multiple franchises in the Hundred, a 100-ball cricket tournament in England and Wales. The ECB is selling 49% stakes in each team to investors, with the first round of bidding concluding last Friday.

Goenka, the founder of RPSG Group, already owns the Lucknow Super Giants in the IPL and the Durban Super Giants in the SA20. He is believed to have bid for several Hundred teams, expanding his cricket portfolio.

Ambani, through his Reliance Industries, owns the Mumbai Indians in the IPL and three other T20 teams. If successful, he could potentially rename the London Spirit franchise to MI London.

Other notable bidders include the Glazer siblings, owners of Manchester United, and Jonathan Goldstein, director of Chelsea Football Club.

The first-round valuation of the eight Hundred teams is estimated at £500 million. The proceeds from the sale will be invested in the recreational and professional cricket ecosystem in the UK.

Team owners will receive a share of central revenues, including broadcast rights and sponsorship. The ECB has declined to confirm the names of interested parties or the value of bids, but has expressed enthusiasm for the level of interest.

The Ambani group has not responded to requests for comment, while the RPSG group declined to comment. Decisions on successful bidders will be announced in 2025.

Tags: #Hundred, #Cricket, #Investment, #SanjivGoenka, #MukeshAmbani