The Indian Premier League (IPL) franchise owners extended their horizon on Wednesday as four of them were announced as “strategic partners” by the England and Wales Cricket Board (ECB) for teams in ‘The Hundred’. They will gain operational control by October 1 this year.
The ECB in a release confirmed India’s GMR, Sun TV Network Limited, RPSG Group, and Reliance Group as the strategic partners that will unlock “hundreds of millions of pounds for game-wide growth”.
While the RPSG Group (70% stake at Manchester Originals), Sun TV Network Limited (100% stake at Northern Superchargers) and GMR Group (49% stake at Southern Brave) have formally completed their respective deals, the deal with Reliance Group (49% stake at Oval Invincibles) will be done at a later date.
The RPSG Group is the owner of Lucknow Super Giants franchise in IPL while Sun TV Network Limited and GMR Group own Sunrisers Hyderabad and Delhi Capitals (co-owner) respectively. Reliance Group owns five-time IPL champions Mumbai Indians.
Notably, the owners of Mumbai Indians, Lucknow Super Giants and Sunrisers Hyderabad also own teams 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 ECB said in a statement.
The ECB also made it clear that a new board will be established including the representatives from the English board 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.”
ECB announces 6 deals at The Hundred
London Spirit – Tech Titans (49%)
Birmingham Phoenix – Knighthead Capital Management, LLC, on behalf of its investors (“Knighthead”) (49%)
Manchester Originals – RPSG Group (70%)
Northern Superchargers – Sun TV Network Limited (100%)
Southern Brave – GMR Group (49%)
Welsh Fire – Washington Freedom (50%)
Oval Invincibles – Reliance Group (49%) – to be completed later
Trent Rockets – Cain International & Ares Management (49%) – to be completed later
