Sundar Pichai Joins $97 Million Bid for London-Based Cricket Team in The Hundred

Sundar Pichai, CEO of Google, is one of the Silicon Valley leaders who are interested in buying a cricket team in The Hundred, a short format league in England and Wales. A group is offering more than £80 million ($97 million) to buy either the Oval Invincibles or London Spirit team, according to Bloomberg.

The bid is being led by Palo Alto Networks CEO Nikesh Arora and Times Internet Vice Chairman Satyan Gajwani, vice chairman of the digital arm of the Times of India Group. The group also includes Satya Nadella, CEO of Microsoft; Shantanu Narayen, CEO of Adobe; and Egon Durban, co-CEO of private equity firm Silver Lake.

Indian tech leaders including Sundar Pichai, a passionate cricket fan are joining the growing number of Indians investing in the sport. Although cricket was born in England, India has become the money bag of the game, with the Indian Premier League having high player salaries, massive TV viewership and major sponsorship deals.

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Indian executives like Nadella and Narayen have also backed cricket in the US, investing in Major League Cricket. In England, The Hundred is an attempt at the sport's modernization to attract the younger crowd and families. Launched in 2021, it has shorter matches of just 100 balls a team and simpler rules, making it fast and easy to follow. More than 2 million spectators have turned up across eight venues in England and Wales since it started.

To improve the league’s financial stability, the England and Wales Cricket Board (ECB) has started accepting bids in September and has invited private investors to buy stakes in the eight teams of The Hundred. The auction managed by investment bank Raine Group, has got global attention and has seen offers for London Spirit and Oval Invincibles. The ECB is selling 49% stake in each team with an option for full ownership.

London Spirit is particularly attractive for investors because it plays at Lord’s the ‘home of cricket’ for the home ground. The combined men’s and women’s competitions in The Hundred generate about £60 million a year for the ECB from TV rights, sponsorships and ticket sales.