ECB dismiss 'IPL takeover' in the Hundred investment process

The England and Wales Cricket Board (ECB) has reassured fans that the ongoing investment process for the Hundred will not result in an "IPL takeover" of English cricket. This statement comes as the second round of the sales process concluded, drawing significant interest from IPL franchises, private equity firms, and American investors.  

So far, eight out of the ten IPL franchises have engaged in talks with counties, showcasing their interest in acquiring stakes in the Hundred teams. High-profile names like Avram Glazer, co-owner of Manchester United, and other investors tied to English football clubs have also submitted bids.  

The ECB aims to raise at least £350 million by selling 49% stakes in each of the eight franchises. While maximising revenue is a goal, the board prioritises diversifying its investor pool. ECB chairman Richard Thompson stated, "This isn't going to end up being an IPL takeover. There's a huge amount of American money involved – very sophisticated investors who understand franchise sport."  

Hollywood actors Ryan Reynolds and Rob McElhenney, owners of Wrexham AFC, have expressed interest in Welsh Fire, while other bidders include CVC Capital Partners and Ares Management, known for their investments in cricket and other sports.  

Counties will now shortlist two preferred partners and continue discussions into early 2025. Final decisions on partnerships are expected by April, with a focus on "optimising value" rather than simply securing the highest bids. Tim Bridge, from Deloitte, explained, "If we make decisions that leave some value on the table, that will be for the good of the sport."  

As the Hundred gears up for a new chapter, the ECB remains committed to protecting English cricket's integrity while embracing a sustainable and diverse investment strategy.