A US Tech consortium including CEOs of Google and Microsoft has brought a 49% stake in Lords-based cricket franchise London Spirit for the small fee of £145 million.
The Hundred, England’s new easy-to-access cricket franchise league, announced in May of last year that they would be selling the eight sides to fund County Cricket for the next 20 years.
Each host county would be given 51% ownership of the franchise with the other 49% owned by the England Cricket Board (ECB) guaranteed to be sold.
Each county has been left to its own devices and what it does with its remaining share.
Since bidding began on the 30th of January six of the eight franchises being sold.
Behind the astronomical fee spent on London Spirit, Northern Superchargers has made the most in these sales.
Living up to the stereotype of Yorkshire CC being the most money-hungry county, they sold 100% of their franchise for £100 million yesterday.
Sunrisers Hyderabad, an Indian Premier League (IPL) side were the winning bidders, as the IPL team have complete control of the Northern Superchargers franchise, based in Leeds.
Manchester Originals are the only other side to sell a controlling stake but Lancashire CC have retained a 30% stake with a deal worth £81 million.
Fellow IPL side Lucknow Super Giants owners are the new investors, as India continues to expand their monopoly on franchise cricket.
The White Roses are the only county to completely rid themselves of the burden of one hundred-ball cricket.
The Northern Superchargers have seen no success in the new format since its inception in 2022 despite England stars, Andrew Flintoff, Harry Brook and Kate Cross all being involved in the setup.
Similarly, London Spirit has finished bottom three times in the men’s competition but the women are reigning champions.
Only two sides are left to be sold with Hampshire-based Southernbrave and Nottingham-based Trent Rockets yet to be sold.
Hampshire already has similar Indian-based conglomerate majority owners in the form of GMR Group.
They don’t own an IPL franchise but are promoters for the Delhi Capitals and are expected to take control of the Southern Brave.
Tom Brady’s Knighthead Consortium, who own Birmingham City, have continued their Brummy investment.
Birmingham Phoenix sold a 49% stake to the American capital management firm
Last Summer Trent Rockets were in open talks with Nottingham Forrest owner Evangelos Marinakis.
Nothing came of those talks but with the bidding going on another day is the Greek businessmen still interested?
With hundreds of millions being spent on acquiring these sides what are investors getting?
Simply put a blank nameplate in an average Cricket franchise league has alienated long-term English fans and failed to engage a new audience.
All while taking up the prime time summer cricket away from the established domestic competitions during summer holidays and a gap in the British sporting calendar.
With other international cricket franchises taking place at the same time the men’s game has struggled to lure players away from American and the Caribbean leagues.
The main positive to come out of The Hundred is bi lateral format with the woman playing simultaneously in the same format.
The woman’s competition has cemented itself as crickets premier female franchise league.
