The London Spirit cricket team has caught the attention of some of the biggest names in sports ownership.
Among the four shortlisted parties vying for a stake in the team are Manchester United’s owners, the Glazer family, and Todd Boehly, a key shareholder in Chelsea.
This growing interest reflects the international allure of The Hundred, cricket’s innovative competition designed to attract new fans and investors alike.
London Spirit: A Jewel at Lord’s
London Spirit, valued at £140 million, is one of the most prestigious franchises in The Hundred.
The team’s home at the historic Lord’s Cricket Ground has added to its appeal for investors.
Reports suggest Boehly’s investment vehicle and the Glazers are competing against a group of high-profile technology moguls from Google and Microsoft, as well as the RPSG Group, owners of the IPL’s Lucknow Super Giants.
The ECB’s Bold Plan
The England and Wales Cricket Board (ECB) is aiming to sell stakes in all eight teams of The Hundred as part of its strategy to reboot the competition.
By attracting international investors, the ECB hopes to generate around £350 million in revenue, which will help fund county cricket for the next two decades.
Counties currently holding a 51% stake in teams have the option to sell during this auction, though buyers are limited to investing in just one team.
The Glazers’ Expanding Cricket Empire
Having already purchased the Desert Vipers, a franchise in the UAE’s ILT20 league, the Glazers are no strangers to cricket investments.
Their move into the sport follows an unsuccessful bid to acquire an IPL team in 2021.
Now, they see the London Spirit as an opportunity to further expand their cricket portfolio.
Fierce Competition for Ownership
The competition for stakes in The Hundred is heating up on a global scale.
The Ambani family, owners of the Mumbai Indians in the IPL, are also reported to be targeting franchises such as the Oval Invincibles and Manchester Originals.
Their interest underscores the growing value of cricket franchises as global investment opportunities.
Next Steps in the Bidding War
The bidding process, overseen by the Raine Group, is expected to conclude next week.
This same group played a pivotal role in high-profile transactions such as Sir Jim Ratcliffe’s investment in Manchester United and the Boehly-led takeover of Chelsea.
With multiple offers for every team, the ECB is optimistic about securing the financial backing needed to elevate The Hundred to new heights.
As cricket embraces a more globalised future, the involvement of renowned investors signals a promising new chapter for the sport and its potential to reach untapped audiences worldwide.
This article was published on TDPel Media. Thanks for reading!
Share on Facebook «||» Share on Twitter «||» Share on Reddit «||» Share on LinkedIn