IPL franchises including Mumbai Indians, Kolkata Knight Riders, Rajasthan Royals, Sunrisers Hyderabad, and Lucknow Super Giants, have submitted bids showing interest in purchasing teams in the ECB-run competition, The Hundred.
These franchises join the GMR Group, which was recently announced as the new owner of Hampshire County Cricket Club, and Avram Glazer, co-owner of Manchester United, who also submitted bids last week. The bids were made ahead of the ECB’s October 18 deadline for potential investors interested in acquiring stakes in the eight teams participating in The Hundred.
The ECB aims to finalize its list of investors by early 2025 but emphasized it won’t rush the process, as it wants to ensure The Hundred is properly valued. ECB chairman Richard Thompson recently mentioned the possibility of a hybrid model next year, where some teams would remain ECB-owned while others could be privately owned.
Despite the October 18 deadline, not everyone moved quickly to submit their bids. While most IPL franchises had shown interest earlier, some did not follow through. Punjab Kings chose not to bid, and it’s unclear whether Chennai Super Kings, the five-time IPL champions, or CVC Capital, which owns Gujarat Titans, submitted bids.
Global sports investor INEOS, owned by Jim Ratcliffe, which holds a 27% stake in Manchester United, also decided against bidding for teams in The Hundred.