IPL Franchises Inject GBP 975 Million in English Cricket's 'The Hundred'

Struggling English county cricket clubs are set for financial relief as the ECB has coordinated with IPL franchises to invest in 'The Hundred', generating GBP 975 million. This investment aims to support both professional and grassroots cricket in England and Wales, with substantial funds earmarked for development.

English county cricket clubs are poised for a financial uplift as the England and Wales Cricket Board (ECB) has successfully attracted a substantial investment of GBP 975 million by selling stakes in 'The Hundred' to several IPL franchises.

The ECB, in an effort to bring private expertise and funds into the event, has reached exclusivity agreements with eight parties in the final stage of this investment process. Among the investors are Mukesh Ambani's Reliance Industries, GMR Group, Sanjiv Goenka's RPSG, and Sun TV Network, whose combined investments make up nearly GBP 300 million, accounting for about 30% of the overall valuation.

Other notable investors include Satya Nadella, Sundar Pichai, and Shantanu Narayan through the Cricket Investor Holdings Limited consortium, while contributions from Knighthead Capital and others are set to revitalize the sport's infrastructure. From this financial boom, GBP 520 million will be dedicated to both professional and grassroots cricket, with county teams receiving a significant slice, especially those lacking a 'Hundred Franchise'.

(With inputs from agencies.)