In a significant development for cricket’s expanding global landscape, several Indian Premier League (IPL) franchises, including the Mumbai Indians (MI), Kolkata Knight Riders (KKR), Rajasthan Royals, Sunrisers Hyderabad, and Lucknow Super Giants, have submitted bids to acquire teams in The Hundred, the innovative cricket tournament run by the England and Wales Cricket Board (ECB). This news was reported by ESPNCricinfo, highlighting the growing interest of IPL franchises in expanding their footprint beyond the Indian cricketing landscape.
The ECB’s Invitation for Bids
The ECB has invited bids for a 49% stake in each of the eight franchises participating in The Hundred. This strategic move aims to engage private investors while retaining majority control of the franchises under ECB governance. As per the report, the deadline for potential investors to submit their bids was October 18, and the response has been noteworthy, with IPL teams stepping forward to stake their claims.
The process involves a multi-stage evaluation. Initially, expressions of interest can be made for all eight teams, which will then be whittled down to four by November. Following meetings with the host counties of each Hundred franchise, investors will be required to refine their choices to four teams in the second stage, ultimately culminating in the selection of two teams from which they will make their final decisions.
Also Read: Bumrah to Hardik: MI’s Probable Retained Players Ahead of IPL 2025 Auction
Aiming for Finalization by Early 2025
The ECB is keen to finalize investors by early 2025, but it is approaching the process methodically to ensure that it does not undersell what it considers a valuable product. The chairman of the ECB, Richard Thompson, has hinted at the possibility of a “hybrid” ownership model. This model would see some teams remain under ECB control while others could be sold to private investors, offering a balanced approach to team management and governance.
Notable Bids and Withdrawals
While the interest from IPL franchises is evident, the bidding landscape is competitive and nuanced. Notably, the GMR Group, which recently acquired Hampshire, and Avram Glazer, co-owner of Manchester United Football Club, have also entered the fray, underscoring the appeal of The Hundred to a diverse range of investors.
However, not all IPL teams followed through with their initial interest. Punjab Kings opted out of the bidding process, and there has been no confirmation regarding the participation of the five-time IPL champions, Chennai Super Kings (CSK), or CVC Capital Partners, the equity major that owns Gujarat Titans. Furthermore, global sports investors INEOS, led by Jim Ratcliffe, who holds a 27% stake in Manchester United, also chose to abstain from the bidding process.
Also Read: IPL Governing Council Announces TATA IPL Player Regulations for 2025-2027
Concerns for IPL Franchises
A significant concern for IPL franchises contemplating their involvement in The Hundred is whether they would be comfortable adopting a “passive investor” role. The dynamics of ownership in The Hundred differ from the active involvement and decision-making power typically exercised by IPL franchise owners in their respective teams. This factor is critical as IPL franchises weigh the potential benefits of expanding into new markets against the operational limitations they may face in a league where they might not have complete control.
The Bigger Picture
The growing interest of IPL franchises in The Hundred is indicative of a broader trend in global cricket, where leagues are increasingly interconnected, and ownership structures are evolving. The IPL has set a precedent for lucrative franchise models, and its teams are now looking to leverage their financial muscle and brand value to explore opportunities in other cricketing formats.
As the cricketing world continues to adapt and expand, the outcome of these bids will have significant implications for both The Hundred and the IPL. It will be fascinating to see how the ECB balances its objectives of maintaining control while attracting investment and how IPL franchises navigate their potential roles in this emerging framework.
In conclusion, the bid submissions by MI, KKR, and other IPL franchises for teams in The Hundred highlight the growing intersection between different cricketing leagues and the expanding influence of IPL teams on the global stage. As the ECB moves forward with its evaluation process, the cricketing community eagerly awaits the developments that could reshape the landscape of professional cricket in the years to come.