MI, SRH among the IPL franchises to submit bids for The Hundred

Several Indian Premier League (IPL) franchises have expressed interest in The Hundred, the 100-ball cricket league run by the England and Wales Cricket Board (ECB). The deadline for submitting first-round bids was October 18, and a significant number of Indian investors, including IPL teams, have shown keen interest.

Multiple IPL team owners submit bids for The Hundred 

As reported by Cricbuzz, Mumbai Indians (MI), Sunrisers Hyderabad (SRH), Lucknow Super Giants (LSG), Kolkata Knight Riders (KKR), Chennai Super Kings (CSK) and Delhi Capitals (DC) are among the IPL teams that have submitted bids.

While there is no official confirmation, Rajasthan Royals (RR) are also believed to have participated in the bidding process. However, Royal Challengers Bengaluru (RCB) and Punjab Kings (PBKS) have decided to stay away from the opportunity. There is uncertainty regarding Gujarat Titans (GT)’ participation, although their owners, CVC Capital, have a presence in the UK.

Also READ: IPL 2025 auction – Is Rachin Ravindra moving to RCB from CSK?

ECB aims for high franchise valuation

The first round of bidding required investors to express their interest without selecting a specific team. The decision to choose a team will be made in the second round, which is expected to take place after the IPL 2025 mega auction. Commercial discussions will also be held during the second round, with the ECB aiming for a franchise valuation between 75 million pounds and 100 million pounds.

The ECB currently owns 100 percent of The Hundred competition and its teams. It plans to sell at least 49 percent of each team to new investors. Interested investors will need to invest between 40 million pounds and 50 million pounds to acquire a 49 percent stake in a team. The remaining 51 percent will remain with the counties associated with each team.

Also READ: 3 teams who can target Sarfaraz Khan in the IPL 2025 auction

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October 21, 2024 at 10:57AM