IPL Franchises Eye Ownership Stakes in ECB's Hundred Competition

The England and Wales Cricket Board (ECB) has received bids from several Indian Premier League (IPL) franchises, including Mumbai Indians, Kolkata Knight Riders, Rajasthan Royals, Sunrisers Hyderabad, and Lucknow Super Giants, for potential ownership stakes in the Hundred competition. Other notable bidders include the GMR Group, the new owner of Hampshire cricket, and Avram Glazer, co-owner of Manchester United Football Club.

The ECB set an October 18 deadline for potential investors to express interest in buying stakes in the eight Hundred teams. The bids submitted last week represent a one-time sum to acquire a 49% stake in each team, currently held by the ECB.

In the next stage, which begins in November, investors will meet with the host counties of each Hundred franchise. They will then need to narrow down their choices to four teams, followed by a final selection of two teams.

While the ECB aims to announce the final set of investors by early 2025, it has emphasized that it will not rush the process and risk "underselling" the Hundred. ECB chairman Richard Thompson has suggested that a hybrid model could be adopted, with the ECB owning some teams and private investors owning others.

However, not all IPL teams have submitted bids. Punjab Kings have opted out, while there is no confirmation on the participation of Chennai Super Kings and Gujarat Titans. Pakistan Super League (PSL) winners Multan Sultans and global sports investors INEOS have also declined to bid.

One of the concerns raised by IPL franchises is their potential role as passive investors. Additionally, former IPL architect Lalit Modi has criticized the ECB's financial projections for the Hundred's growth beyond 2026, calling them "overly optimistic."

Despite these reservations, the ECB remains confident in the Hundred's potential. CEO Richard Gould has stated that over 100 potential investors from India and the USA have sought information on the privatization.

Tags: #IPL, #Hundred, #ECB, #Cricket, #Investment