Manchester United and Chelsea owners, Avram Glazer & Todd Boehly, could reportedly be involved in an investment battle for cricket club London Spirit.
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Marylebone Cricket Club invite bids for SpiritTycoons from across the globe are set to battleSix entities including F1 rulers and IPL teams to competeFollow GOAL on WhatsApp! 🟢📱WHAT HAPPENED?
According to The Marylebone Cricket Club (MCC) has been meeting with six potential buyers this week as they gear up for a high-profile bidding competition for a stake in London Spirit, one of The Hundred’s flagship cricket franchises.
AdvertisementGetty ImagesWHO'S IN THE RUNNING FOR LONDON SPIRIT?
Apart from Glazer (the chairman of Lancer Capital) and Boehly (who backs Cain International), there are four other major contenders currently vying for a slice of London Spirit. Reliance Industries, owned by Mukesh Ambani, the owners of the IPL (Indian Premier League) franchise Mumbai Indians are among the runners. Fellow IPL team, Chennai Super Kings are also seeking a foothold in England’s new cricket league. The Sanjiv Goenka Group, which owns IPL’s Lucknow Super Giants and the Indian Super League's Mohun Bagan Super Giants are also keen to expand its cricket investments into The Hundred. Finally, Liberty Media, the parent company of Formula One, another heavyweight in the sports and entertainment industry rounds up the six bidders.
DID YOU KNOW?
With 15 investors competing across the eight franchises and around 35 bids in total, the London Spirit franchise is anticipated to attract the highest offer, owing to its prestigious Lord’s affiliation and strategic location. However, the bidding frenzy is not limited to London Spirit alone; several other franchises, including Welsh Fire, Northern Superchargers, and Trent Rockets, have also drawn significant interest from investors who believe these lesser-known teams offer substantial growth opportunities at a more accessible valuation.
AFPWHAT NEXT?
The England and Wales Cricket Board (ECB) is seeking to sell up to 49 per cent of each of the eight teams in The Hundred, aiming to raise a minimum of £350 million across the league. Under the proposed arrangement, the ECB will direct 10 per cent of proceeds toward grassroots cricket, while the remaining revenue will be divided between the 18 first-class counties and the MCC. Each host county will retain control over the remaining 51 per cent and can choose to retain or sell part of this ownership.
