Several IPL franchises CSK, MI, and KKR have submitted bids for the Hundred teams which has set a new battle between Indian Premier League franchises outside India after the ECB revealed their interest in receiving offers from IPL franchises.
As per the reports, seven IPL franchises CSK, SRH, LSG, MI, KKR, DC and RR have made bids for the Hundred stakes. As per the reports, the final deadline for submitting the initial bids is October 18 and the majority of the bids will have come from the IPL franchises.
Besides the IPL team, the WPL team UP Warriorz owned by Dubai-based Capri Global Group has also submitted a bid. The Hundred Tournament and its teams are 100% owned by the ECB but the board has revealed their interest in selling 49% of shares to propel the league to new heights.
Besides the selling of 49%, ECB has planned to gift the remaining stakes to the counties associated with each team. The remaining 51% remain associated with each team which the counties can either sell or keep the stakes.
“ECB then plans to gift its remaining stake in each of the teams to their respective hosts, creating a lasting partnership between new investors and some of the world’s iconic cricket institutions.”
“As a part of this process, hosts will also have the option to sell a portion of their equity in the teams to the new investors to provide a path to a control position.”
Investors interested in purchasing the stakes in a team may need to pump in between 40 and 50 million pounds to acquire 49% percent share in one of the teams.
Avram Glazer’s Lancer Capitals, the co-owners of Manchester United and Operators of the Desert Vipers team in the ILT20, have also participated in the bidding.
As this is the first round of bidding, there is no requirement at this stage for investors to select one of the eight teams in the League. The decision will be revealed in the second and more serious round, which could take place after the conclusion of the IPL 2025 mega auction.
