English cricket has undergone a historic transformation with the completion of the £1bn sale of The Hundred franchises, marking a new era for the sport. The final piece of the puzzle fell into place as Southern Brave became the eighth and last team to secure investment, with Hampshire’s owners, GMR Group, purchasing a 49% stake in the franchise. GMR, which also co-owns the Delhi Capitals in the Indian Premier League, has valued the team at £98m, contributing to the total valuation of all eight teams reaching nearly £974m.
This major financial shift comes with a redistribution of funds, with the England and Wales Cricket Board (ECB) planning to allocate 10% of its proceeds to grassroots cricket. The remaining funds will be divided among the 18 first-class counties and the Marylebone Cricket Club, ensuring a widespread boost for the domestic game. Consultancy fees will also be paid to those who managed the sale, including the Raine Group and Deloitte, but the most significant outcome is the injection of over £400m into the English cricket system.
The sale of Southern Brave was unique due to Hampshire’s recent takeover by GMR Group, which is set to take full ownership of the county within two years. The ECB took steps to ensure a fair valuation process and prevent any undervaluation of assets. Now, with the sales nearing completion following a six-week exclusivity period, the league finds itself with four of its eight teams backed by IPL investors. Manchester Originals, Northern Superchargers, and Oval Invincibles have already secured investment from IPL owners, joining Southern Brave in this growing trend.
Despite the increasing IPL presence, the ECB has managed to attract a diverse range of investors for the remaining teams. London Spirit was sold for a record £144m to Cricket Holdings Limited, a Silicon Valley-based consortium led by Nikesh Arora. The group cited Lord’s status as a global cricketing landmark as a key factor behind the high valuation. Meanwhile, Birmingham Phoenix secured investment from Knighthead Capital, Welsh Fire from tech entrepreneur Sanjay Govil, and Trent Rockets from Cain International/Ares.
The arrival of India’s wealthiest family, the Ambanis, in English cricket through a £60m investment in Oval Invincibles highlights the global appeal of the competition. While the ECB had initially expressed concerns about the league becoming overly dominated by IPL owners, the mix of investors suggests a balanced outcome.
With the financial restructuring now in place, speculation is growing over potential changes to the competition. While the 2025 edition of The Hundred is expected to proceed as planned, the introduction of new team names and colors from 2026 is being considered. Additionally, some investors favor a transition from the 100-ball format to the more globally recognized Twenty20 structure, aligning the tournament with other international leagues.
The future direction of The Hundred will be a subject of debate, especially with the league’s broadcast deal running until 2028. However, with significant financial backing now secured, English cricket finds itself in a stronger position than ever to compete on the global stage.
