IPL giants compete for stake in The Hundred as bidding war heats up

In a major development, more than half a dozen Indian Premier League (IPL) franchises have officially thrown their hats in the ring for The Hundred, the 100-ball league run by the England and Wales Cricket Board (ECB).

With October 18 marking the deadline for first-round bids, several IPL teams have taken their first step towards owning a stake in the unique English tournament.

CSK, KKR MI, and More IPL Teams Eye Ownership in ECB's The Hundred

According to Cricbuzz, some of the biggest IPL franchises, including Chennai Super Kings (CSK), Sunrisers Hyderabad (SRH), Lucknow Super Giants (LSG), Mumbai Indians (MI), Kolkata Knight Riders (KKR), and Delhi Capitals (DC), have all submitted their bids for The Hundred.

However, they have not made any official announcements regarding their bid, but it is widely speculated that Rajasthan Royals (RR) have also joined the race, along with UP Warriorz, a Women's Premier League (WPL) franchise owned by Dubai-based Capri Global Group.

But the involvement of international heavyweights such as Avram Glazer's Lancer Capitals, the co-owner of Manchester United, and operators of the Desert Vipers team in the ILT20, makes this bidding process even more fascinating. This global interest highlights the growing appeal of The Hundred as a premier property in the world of the domestic leagues.

RCB and PBKS are not interested in investing in The Hundred

However, the Royal Challengers Bangalore (RCB), owned by British firm Diageo, and Punjab Kings (PBKS) have decided to stay away from The Hundred. On the other hand, the Gujarat Titans’ (GT) stance remains unclear, but rumors continue to spin about their possible interest.

CVC Capital, the owners of the Ahmedabad-based franchise Gujarat Titans (GT), has an office in the UK, which raises speculation about their involvement.

Adding fuel to the fire is the fact that Gujarat Titans' (GT) operational head, Nick Clarry, is based in London, further hinting at the possibility of their interest in the ECB’s The Hundred.

Notably, this is just the first stage of the bidding process, so there is no immediate requirement for franchises to select one of the eight teams in The Hundred with the decision regarding the same to be made in the second round, which is expected to take place after the IPL 2025 mega auction.

ECB eyes a franchise valuation between £75 million and £100 million

On the other hand, sources hinted that the ECB is eyeing a franchise valuation between £75 million and £100 million. The entry of IPL powerhouses into The Hundred could transform the tournament into an even more lucrative and widely recognized tournament.

Meanwhile, the ECB is looking to sell at least 49% of each team in The Hundred to new investors to elevate the competition. Interested investors may need to invest between £40 million and £50 million to acquire this share.

While the ECB currently owns 100% of the competition, the remaining 51% of each team will remain with the counties associated with them, forming a joint venture between the new investors and the counties.

However, the investors can also purchase part or all of the counties' 51%, potentially giving them a controlling stake in the teams. The ECB plans to eventually gift its remaining stake to the counties, ensuring a long-term partnership.