(Source X)
Next month, the England and Wales Cricket Board (ECB) plans to sell stakes in the eight Hundred teams. Indian Premier League (IPL) franchises are anticipated to place bids for these stakes. To attract Indian investors, the ECB might permit IPL franchise owners to rename the teams.
A report from The Guardian indicates that the ECB is highly motivated, suggesting that even a small investment could provide the new owners with significant influence. With all ten IPL owners likely to submit bids, the competition for these stakes is expected to be intense.
“All the IPL owners are saying they will bid, but they will want some control for their cash. It’s essentially a big brand play for the IPL so we expect them to push for name changes, which will depend on the amount they have invested,” a source involved in the sale process was quoted as saying in the report.
The ECB has been in discussions with potential investors for the past few months. Among those showing interest are American sports franchise executives, including Hollywood actor Ryan Reynolds and Manchester United owner Avram Glazer, both of whom are exploring the possibility of acquiring stakes in the Hundred teams.
Additionally, Knighthead Capital, the American investment firm behind Birmingham City, and whose investors include NFL legend Tom Brady, is also interested in acquiring a stake in Birmingham Phoenix. Representatives from Knighthead Capital have been attending several Hundred matches to assess their investment opportunity.
“The governing body has been given the green light by the counties to formally begin the process next month, which will be run by the American bank, the Raine Group, which also managed the recent sales of United and Chelsea,” added the report.
These developments come as IPL 2008 champions, Rajasthan Royals, are anticipated to bid for the Northern Superchargers as part of their broader acquisition of Yorkshire. Meanwhile, Delhi Capitals are looking to secure a stake in the Southern Brave following their recent £120 million deal to purchase Hampshire.
