Hundred Franchises Find New Owners: ECB Seals Six Deals, Reliance Oval Bid in Limbo

The England and Wales Cricket Board (ECB) has officially announced franchise agreements with six investors for The Hundred tournament. Negotiations are still in progress with the remaining two, including the Reliance Group's bid for the Oval Invincibles.

The new owners will take over operational control from October 1, 2025 © Getty

Here's a breakdown of the confirmed agreements:

• London Spirit: US-based Tech Titans secured a 49% stake.
• Manchester Originals: Sanjiv Goenka's RPSG Group finalized a 70% acquisition and plans to rename the team Manchester SuperGiants, aligning with their branding in the IPL and SA20.
• Northern Superchargers: Chennai-based Sun TV Network completed a 100% stake acquisition.
• Southern Brave: The GMR Group acquired a 49% stake.
• Welsh Fire: Sanjay Govil, owner of the Washington Freedom in MLC, secured a 50% stake.
• Birmingham Phoenix: Knighthead Capital Management, LLC, representing its investors ("Knighthead"), acquired a 49% stake.

Agreements pending include:

• Oval Invincibles: Reliance Group (49% stake).
• Trent Rockets: Cain International & Ares Management (49% stake).

The ECB confirmed that the new owners will assume operational control starting October 1, 2025. The media release emphasized that the ECB will maintain full ownership of the competition and retain control over key aspects like regulations and scheduling, ensuring a broader positive impact on the game.

The eight partnerships collectively value the teams at over GBP 975 million, with an anticipated investment of over GBP 500 million into the English and Welsh cricket ecosystem. A new "The Hundred Board" will be established, comprising representatives from the ECB and the teams (investors and host clubs). This board will have delegated authority over strategic direction and commercial growth, including sponsorship, licensing, player salaries, and draft mechanics.

Notably, four of the eight teams are now owned by IPL franchises, and six have investors of Indian origin.

The ECB stated that this is a "pivotal moment" for The Hundred, marking it as the first UK sports competition to secure franchise partnerships of this magnitude. The investors bring expertise from global sport, media, technology, and finance, reflecting the growing commercial and cultural significance of the tournament.

ECB Chair Richard Thompson commented, "The Hundred has already played a vital role in growing cricket in England and Wales, attracting new audiences, elevating the women's game, and delivering high-quality entertainment. The sheer scale of global interest we've seen throughout this process highlights just how much potential remains to be unlocked."

The current season of The Hundred is scheduled to begin on August 5 at Lord's.