Four IPL team owners to serve as strategic partners in The Hundred

The ECB said two more partners, including Reliance Group, for a stake in the Oval Invincibles, are set for "a formal completion at a later date

Four Indian Premier League franchise owners were on Wednesday confirmed as "strategic partners" by the England and Wales Cricket Board (ECB) for teams in 'The Hundred' and will gain operational control by October 1 this year.

The sport's governing body in England said in a release that the deals with these partners, which includes India's GMR, Sun TV Network Limited, RPSG Group, and Reliance Group, will unlock "hundreds of millions of pounds for game-wide growth".

The ECB said two more partners including Reliance Group for a stake in the Oval Invincibles are set for "a formal completion at later date".

These IPL team owners had acquired their respective stakes in The Hundred's teams over recent months.

Some of them, including the owners of Mumbai Indians, Lucknow Super Giants and Sunrisers Hyderabad, own teams competing in South Africa's premier T20 competition SA20.

"The England and Wales Cricket Board (ECB) today confirmed a landmark achievement in the evolution of The Hundred, with deals now complete with the first six strategic partners for The Hundred teams," the board said.

"The remaining two are set for formal completion at a later date. They remain on track, in line with the ECB having offered investors the option of completing later."  While RPSG Group, which owns the Lucknow Super Giants, will have a 70 per cent stake in Manchester Originals, the Sun TV Network Limited, the owners of the Sunrisers Hyderabad, will have a 100 per cent ownership of the Northern Superchargers.

The GMR Group, which co-owns the Delhi Capitals team, will have a 49 pert cent stake in the Southern Brave team.

The other deals include Tech Titans having a 49 per cent stake in London Spirit, Knighthead Capital Management, LLC on behalf of its investors "Knighthead" having a similar 49 per cent stake of Birmingham Phoenix, and Washington Freedom having a 49 per cent stake in Welsh Fire.

The ECB said two deals which remain on track to formally complete later on include Reliance Group's 49 per cent stake in the Oval Invincibles and Cain international & Ares Management's 49 per cent stake in the Trent Rockets.

"This pivotal moment sees The Hundred become the first UK sports competition to secure franchise partnerships of this scale, drawing on world-class expertise from across global sport, media, technology, and finance," the ECB said.

"Each new investor brings a tailored vision and expertise to their team, reflecting the growing commercial and cultural momentum behind The Hundred," it added.

The ECB said an amount exceeding 500 million pounds will be shared between professional counties and the "grassroots game" when all the deals are complete.

"This announcement follows the exclusivity period launched earlier this year, during which selected investors entered final-stage negotiations," it said.

"In most cases, investors will operate their franchise in The Hundred in partnership with the host club. They will take over operational control from October 1, 2025," the board added.

The ECB continued, "Collectively, the eight partnerships represent a valuation of the teams of over 975 million pounds, with more than 500 million pounds now set to be invested into the English and Welsh cricket ecosystem."  "This includes a dedicated 50 million commitment to grassroots cricket, ensuring the game continues to thrive at every level, with the remainder distributed to professional counties."  ECB chairman Richard Thompson said, "The sheer scale of global interest we've seen throughout this process highlights just how much potential remains to be unlocked."  The board added that while the new partners are investing in the teams in The Hundred, the "ECB retains full ownership of the competition itself".

"With that, control over key areas such as regulations, the length of the window and other matters that have a wider game-wide impact," it said.

A new board will be established including ECB representatives and the teams including both investors and host clubs. This board will have "delegated authority over certain defined matters relating to the strategic direction and commercial growth.