THE HUNDRED: After Ambanis splash £60 million on 49% stake in Oval team, consortium with Sundar Pichai, Satya Nadella pick Lord’s for £ 144 million

However, the biggest bid came from Silicon Valley connected Friday, wherever a consortium that involves Alphabet CEO Sundar Pichai and Microsoft CEO Satya Nadella bought London Spirit, which has the Lord’s stadium arsenic its location for £ 144 million.

What is The Hundred?

The Hundred is simply a format introduced by the England and Wales Cricket Board which sees each squad get 100 balls to play. With its T20 contention not making headlines, the ECB has been promoting the Hundred arsenic its flagship lawsuit since it was introduced successful 2021. However, it hasn’t really taken disconnected arsenic overmuch arsenic they would’ve liked successful presumption of a financially viable merchandise with different tournaments similar SA20 and ILT20 already grabbing headlines.

So successful 2024, the ECB took the determination to let equity merchantability of teams successful the anticipation that Indian owners volition pump their wealth into the tournament.

What is equity sale?

The ECB had a people of £ 350 cardinal done the income process – a fig it arrived astatine aft a London based steadfast Bridgepoint Group placed a £ 400 cardinal bid to ain 75% involvement successful the tournament. With ECB wanting to clasp control, it decided to merchantability its 49% involvement successful each of the 8 teams, portion 51% was fixed to the 8 hosting counties which they tin clasp oregon sell. And immoderate wealth raised from the merchantability of 49% volition beryllium distributed betwixt County teams, Marylebone Cricket Club (MCC) for grassroots programmes.

Line up of IPL owners

Although Lalit Modi, the encephalon down IPL, raised doubts implicit ECB’s valuation, by selling The Oval Invincibles to Reliance and Birmingham Phoenix to Knighthead Capital, owners of Birmingham City, the ECB has already raised 244m GBP with 5 much to come.

Although Chennai Super Kings, Kolkata Knight Riders, Rajasthan Royals and Punjab Kings had besides shown interest, they person decided not to put successful The Hundred. However, Sanjeev Goenka, who owns the Lucknow Super Giants, Sunrisers Hyderabad owned by SunTv Network, and Delhi Capitals, are showing involvement successful owning a stake. Even CVC Capital which runs Gujarat Titans placed a bid for The Oval Invincibles but was beaten to it by the Ambanis.

Sundar Pichai and Satya Nadella person a caller location astatine Lord’s

A consortium involving Silicon Valley executives Alphabet CEO Sundar Pichai and Microsoft Chairman and CEO Satya Nadella, Adobe CEO Shantanu Narayen, Palo Alto CEO Nikesh Arora and co-CEO of Silver Lake Management LLC, Egon Durban, showed involvement to bargain The Oval Invincibles.

And aft missing retired connected Thursday, they went each retired for London Spirit fending disconnected involvement from LSG proprietor Sanjeev Goenka, Manchester United co-chairman Avram Glazer’s Lancer Capital and Cain International, which was led by Chelsea manager Jonathan Goldstein and backed by the club’s joint-owner Todd Boehly. Eventually it came down to 2 bidders – Goenka vs Silicon Valley Group – earlier the second walked distant arsenic winners.

How is English cricket reacting?

Of course, determination are concerns being raised astir the engagement of backstage players, much notably Indians. Prime illustration was erstwhile GMR Group, that co-owns Delhi Capitals bought 53% involvement successful Hampshire County for £ 120 million, and showed involvement to bargain Southern Brave which plays its matches astatine Southampton. With IPL owners already making inroads successful English cricket, determination are concerns however acold their scope volition go. While Surrey, Warwickshire and Glamorgan privation to support 51% of their stake, others are unfastened to merchantability portion of it. So a akin statement similar the 1 existing betwixt Hampshire and GMR is expected successful the future, which means these owners volition besides person a accidental successful the operations of the County teams.

Will Indian players beryllium portion of The Hundred?

Although the tourney takes spot successful the months of July-August which is usually an off-season successful India, the BCCI won’t let immoderate of its players to diagnostic successful the tournament. The ECB has been having discussions with the BCCI implicit the information of Indian players, but to support marque IPL, the Indian committee doesn’t let its players to diagnostic successful immoderate different leagues. With IPL owners having their imprint each implicit the world, however agelong tin BCCI defy this offers lone clip volition tell. By making their beingness successful English cricket, each eyes are connected what Cricket Australia volition bash adjacent arsenic its Big Bash League volition further suffer traction.