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Tech Giants Secure London Spirit in Historic The Hundred Franchise Sale
Microsoft, Google, and MLC Investors Lead Landmark Deal
A consortium of tech industry leaders, including Microsoft Chairman Satya Nadella, Google CEO Sundar Pichai, and Major League Cricket (MLC) co-founder Satyan Gajwani, has successfully acquired London Spirit, one of the marquee teams in England’s The Hundred cricket league. The group outbid strong competitors, including Indian businessman Sanjiv Goenka, to purchase a 49% stake in the Lord’s-based franchise for GBP 145 million, placing the total valuation at GBP 295 million.
This deal marks a major milestone in cricket’s global franchise ecosystem, with big tech executives entering the cricket ownership space for the first time.
The Hundred Franchise Sales Surge Past ECB Expectations
London Spirit: The Crown Jewel of The Hundred
The English and Wales Cricket Board (ECB) has been aiming to raise GBP 350 million through the privatization of The Hundred teams. However, with the sale of just four teams—including Oval Invincibles, Birmingham Phoenix, and Welsh Fire—the board has already surpassed GBP 300 million in earnings, exceeding early projections.
London Spirit was widely regarded as the most prestigious franchise in the competition due to its association with Lord’s Cricket Ground, the Home of Cricket. The MCC, which holds the remaining 51% stake, welcomed the partnership, with Chair Mark Nicholas stating:
“Today’s announcement shows what we as Members have always known: our Club is special. It’s why people want to be involved with us. I hope all Members are as proud as I am and excited at the opportunities ahead.”
Welsh Fire Sold to Major League Cricket’s Washington Freedom
In another significant development, Washington Freedom, a franchise from Major League Cricket (MLC) in the USA, has secured ownership of Welsh Fire for GBP 65 million. This move further underlines the growing influence of American investors in global cricket.
Tech Giants vs. IPL Powerhouses: The Fierce Bidding War
Sanjiv Goenka’s Aggressive Push for London Spirit Falls Short
Sanjiv Goenka, owner of Lucknow Super Giants (IPL) and Durban Super Giants (SA20), was among the most determined bidders for London Spirit. The auction process was intensely competitive, with Goenka engaging in a four-hour bidding war against the tech consortium.
Goenka’s keen interest in The Hundred aligns with his ambitions to expand his cricket footprint, but the deep pockets and strategic interests of the tech-driven group ultimately secured them the deal.
Other IPL Owners Eye The Hundred Franchises
Several IPL franchise owners are actively participating in The Hundred sales process:
- Mumbai Indians (Ambani family) has already purchased Oval Invincibles.
- SunRisers Hyderabad (Marans), Delhi Capitals (GMR Group), and Gujarat Titans (CVC Capital) are expected to enter the bidding next week.
- Goenka remains a strong contender for the upcoming sales, particularly for Manchester Originals.
What’s Next? Remaining The Hundred Franchises Up for Grabs
The ECB is set to auction off the remaining four teams next week:
- Manchester Originals – Up for bidding on Monday, expected to be highly competitive.
- Trent Rockets
- Northern Superchargers
- Southern Brave
With deep-pocketed IPL franchises, international investors, and new tech entrants in the fray, the final sales are expected to generate record-breaking valuations for ECB.
A Game-Changer for Global Franchise Cricket
The entry of tech moguls into cricket ownership represents a seismic shift in the sport’s investment landscape. With high-profile figures like Satya Nadella, Sundar Pichai, and Nikesh Arora backing London Spirit, The Hundred is now attracting a new breed of investors, setting the stage for a transformative future in global franchise cricket.
Expect the final week of The Hundred’s franchise sales to be just as fiercely contested, with more IPL powerhouses and global investors vying for a stake in England’s premier short-format league.
To know more about The Hundred and its latest franchise sales, click here for in-depth coverage on how the league is transforming global franchise cricket.
