Multiple Indian Premier League (IPL) franchises have thrown their hats into the ring for a stake in The Hundred, England and Wales Cricket Board’s (ECB) 100-ball competition, as the first round of bidding closed on October 18. The majority of those expressing formal interest are Indian investors, including a number of high-profile IPL teams.
According to a Cricbuzz article six IPL franchises—Chennai Super Kings, Sunrisers Hyderabad, Lucknow Super Giants, Mumbai Indians, Kolkata Knight Riders, and Delhi Capitals—have all submitted bids. While official confirmation is still pending, sources suggest Rajasthan Royals may have also taken part in the bidding. In addition, UP Warriorz, a franchise in the Women’s Premier League (WPL) owned by the Dubai-based Capri Global Group, is believed to have submitted a bid.
One notable non-IPL participant in the bidding process is Avram Glazer’s Lancer Capitals, the co-owner of Manchester United and operators of the Desert Vipers team in the ILT20. Their involvement adds a layer of intrigue to the competition, given the Glazers’ substantial financial clout and interest in cricket investments.
However, some major IPL teams have opted not to participate in this round. Royal Challengers Bangalore, owned by British alcohol giant Diageo, and Punjab Kings have both decided to skip this initial opportunity, leaving the door open for others to make their move.
The Gujarat Titans, another IPL team with a strong global presence, has remained tight-lipped about its involvement. CVC Capital, which owns the Ahmedabad franchise, has offices in the UK, and while their participation in the bidding remains unclear, speculation is rife. Nick Clarry, the Gujarat Titans’ operational head, is based in London, which further fuels rumors of their interest.
This is only the first phase of a two-stage bidding process. In the second, more serious round, investors will choose their preferred team among the eight in The Hundred. The second round is expected to follow the conclusion of the IPL auction, with commercial negotiations likely to intensify. According to ECB sources, they are hoping for a franchise valuation between £75 million and £100 million.
The ECB, which currently owns 100% of The Hundred and its teams, aims to sell at least 49% of each team to investors with the expertise to elevate the competition to new heights. Investors could be required to pump in between £40 million and £50 million for a 49% share in one of the teams. The remaining 51% stake will stay with the county cricket clubs that are associated with each team.
Additionally, the ECB plans to offer its remaining stake in the teams to the counties, creating long-term partnerships between new investors and some of England’s most iconic cricket institutions. The counties will also have the option to sell part of their 51% share to the investors, potentially paving the way for full control by the new owners.
The interest from IPL franchises highlights the growing global appeal of The Hundred, with many viewing it as an opportunity to expand their presence in international cricket. The influx of Indian investors, in particular, reflects the financial strength and widespread influence of the IPL, which has revolutionized the global game.
As the ECB moves toward the second round of bidding, all eyes will be on the competition to see which investors will ultimately secure a stake in the eight teams and what that could mean for the future of The Hundred.
