IPL Franchises Eye Stake in London Spirit as Hundred Privatization Looms

The Hundred, England's domestic 100-ball cricket competition, is attracting interest from Indian Premier League (IPL) franchises. According to Mark Nicholas, the MCC president and future chairman of London Spirit, five IPL teams have expressed a "soft" interest in acquiring a stake in the Lord's-based franchise.

This development comes as MCC considers accepting the ECB's offer of a 51% stake in London Spirit as part of the Hundred's privatization drive. Under the proposed model, the eight Hundred "hosts" will receive majority stakes in their respective teams, with the ECB selling the remaining 49% to private investors through a bidding process.

Nicholas emphasized the importance of member support for MCC's decision, describing the move towards private equity as a "monumental" step that will ultimately benefit cricket at all levels. He highlighted the global boom in cricket franchises and the need for English cricket to capitalize on this opportunity.

The ECB has appointed Raine Group and Deloitte as advisors for the Hundred privatization. While there is no formal deadline, the ECB aims to finalize terms by the end of the year. However, Nicholas acknowledged that several issues still need to be resolved, including the bidding process and the rollout of franchises.

The World Cricket Connects symposium, hosted by MCC on July 5, will provide a platform for influential figures in cricket to discuss the future of the game. BCCI secretary Jay Shah, senior IPL officials, and prominent current and former cricketers are expected to attend. Nicholas believes it is crucial to listen to the voices of potential bidders, who have driven the success of cricket franchises worldwide.

Tags: #Hundred, #IPL, #MCC, #LondonSpirit, #Cricket