Prominent investors from the football world, including the Glazer family and Todd Boehly, have been shortlisted to acquire a 49% stake in the London Spirit franchise of English cricket’s Hundred competition. The England and Wales Cricket Board (ECB) is overseeing the auction, with four finalists in contention for the prestigious Lord's-based team.
Sky News has reported that Boehly, a shareholder in Chelsea FC, along with members of the Glazer family, owners of Manchester United, have advanced to the final round of bidding. Joining them are a consortium of technology executives from Google and Microsoft, and RPSG Group, the Indian conglomerate behind the Indian Premier League's Lucknow Super Giants.
Industry insiders reveal that the ECB is expected to receive approximately £70 million from the sale, with the London Spirit franchise valued at around £140 million. The winning bid will be selected following a sealed bidding process next week, with all four parties submitting their final offers.
Interestingly, India's Ambani family, owners of the Mumbai Indians IPL franchise, have opted to focus their efforts on securing stakes in the Oval Invincibles and Manchester Originals teams rather than the London Spirit. This highlights the intense competition and strategic positioning by global investors within the rapidly evolving cricket landscape.
While the ECB stands to generate an estimated £350 million from the sale of 49% stakes across all eight Hundred franchises, some county cricket boards have indicated their reluctance to sell their majority 51% shareholdings. Notably, the Marylebone Cricket Club (MCC), which oversees the London Spirit franchise, has stated it will retain full control of its existing stake.
The interest from high-profile investors underscores the growing commercial appeal of The Hundred, a format designed to capture a wider audience and generate substantial revenue streams. The RPSG Group's aggressive pursuit of multiple franchises further signals the increasing influence of Indian investors in global cricket markets.
Despite the financial opportunities presented by the stake sales, concerns remain regarding the long-term sustainability of county cricket. Some stakeholders worry that the influx of funds may not sufficiently address underlying financial challenges faced by counties, particularly those burdened with debt.
The Hundred auction process, managed by Raine Group—the same advisory firm responsible for brokering the high-profile sales of Chelsea FC and stakes in Manchester United—is expected to reshape the investment landscape within English cricket. The success of the auction could provide a much-needed financial boost to struggling counties, while also raising broader questions about the future commercial viability of the traditional Test format in the face of rising interest in shorter, more dynamic formats.
Neither the ECB nor the shortlisted bidders have commented publicly on the ongoing process, but anticipation continues to build as the auction enters its final stages.