The England and Wales Cricket Board (ECB) aims to secure at least £350 million from the ongoing sales of stakes in The Hundred. Chair Richard Thompson expressed confidence in exceeding this benchmark, with deals expected to be finalized by early 2025.
Thompson highlighted that an earlier offer from private equity group Bridgepoint—seeking a majority stake in the entire competition—helped set the valuation standards. The ECB had declined that proposal, opting to maintain control of the tournament.
Franchising the Teams
The ECB is selling 49% stakes in each of the eight Hundred teams, transitioning them into franchises. These will operate as joint ventures with host counties or, for London Spirit, with MCC. The sales process, which began in September, is in its second phase, with the final round slated for January 2025.
Thompson noted that interest from potential investors has been overwhelming, surpassing expectations set by the US-based Raine Group, which manages the process. “We’ve been shocked by the quality and quantity of interest,” Thompson remarked, adding that almost every major player in sports investment is involved.
A Rare Financial Opportunity
Chief Executive Richard Gould emphasized the funds’ transformative potential in response to the Department of Culture, Media, and Sport (DCMS). Gould described the sales as a “once-in-a-generation opportunity” to secure long-term financial sustainability for English cricket.
The funds raised are expected to provide a significant capital injection for cricket in England and Wales, benefiting both grassroots and professional levels. To ensure the competition’s effective management, the ECB plans to establish a dedicated Hundred committee, involving board members, franchise representatives, and independent experts.
Looking Ahead
With a pool of global investors and high demand, the ECB is confident in its strategy. The franchise model could redefine English cricket’s financial landscape, offering sustainability and growth while preserving the tournament’s essence.
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