IPL Franchises Eye Stakes in The Hundred Teams

Several IPL franchises, including Mumbai Indians, Kolkata Knight Riders, Rajasthan Royals, Sunrisers Hyderabad, and Lucknow Super Giants, have expressed interest in acquiring stakes in teams participating in the ECB's The Hundred competition.

According to ESPNcricinfo, the GMR Group, recently announced as the new owner of Hampshire, and Avram Glazer, co-owner of Manchester United, also submitted bids before the ECB's October 18 deadline for potential investors.

These bids represent a one-time offer to purchase a 49% stake in each of the eight teams, which the ECB currently holds. Investors can express interest in all eight franchises, but the list will be narrowed down to four in November. During this phase, investors will meet with the host counties of each franchise. Subsequently, they will need to trim their selections to four teams, eventually choosing two for their final bids.

While the ECB aims to finalize the investor list by early 2025, it has emphasized the importance of not rushing the process to avoid "underselling" what it views as a valuable asset. ECB chairman Richard Thompson mentioned the possibility of a hybrid ownership model next year, allowing for a mix of ECB-owned and privately-owned teams.

However, not all potential investors were quick to submit bids as the October 18 deadline approached, indicating a cautious approach toward this lucrative opportunity.