ECB confirms franchise deals for six Hundred teams; Reliance's Oval deal pending

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ECB confirms franchise deals for six Hundred teams; Reliance's Oval deal pending

by Cricbuzz Staff • Last updated on

The new owners will take over operational control from October 1, 2025 © Getty

The England and Wales Cricket Board (ECB) on Wednesday (July 30) confirmed the signing of franchise agreements with six of the eight investors in The Hundred tournament. Negotiations are underway with two others, including with Reliance Group which had successfully bid for the Oval Invincibles side.

Among the six groups onboard are the US-based Tech Titans, who have acquired a 49 percent stake in the Lord's-based London Spirit. Sanjiv Goenka's RPSG Group has completed a 70 percent acquisition of the Manchester Originals and is expected to rename the side Manchester SuperGiants, in line with his SuperGiants franchises in the IPL and SA20.

Chennai-based Sun TV Network have completed the pact with the ECB for the 100 percent stake in the Headingley-based Northern Superchargers. The GMR Group has taken 49 percent of the Southampton team, Southern Brave. Sanjay Govil, who owns Washington Freedom team in MLC, has onboarded himself for Welsh Fire team by a taking 50 percent stake while 49 percent of Birmingham Phoenix side has been taken by Knighthead Capital Management, LLC, on behalf of its investors ("Knighthead").

Apart from Reliance Group's unsigned agreement for 49 percent of Oval Invincible, Cain International & Ares Management are yet to sign on the dotted lines for 49 percent in Trent Rockets.

The new owners will take over operational control from October 1, 2025, the ECB said. "The new partners are investing in The Hundred teams, while the ECB retains full ownership of the competition itself, and with that, control over key areas such as regulations, the length of the window and other matters that have a wider game-wide impact," the media release further clarified.

Collectively, the eight partnerships represent a valuation of the teams of over GBP 975 million, with more than GBP 500 million now set to be invested into the English and Welsh cricket ecosystem, the ECB said. It was also revealed that a new "The Hundred Board" is going to be established, featuring representatives of the ECB and the teams (both investors and host clubs), which will have "delegated authority over certain defined matters relating to the strategic direction and commercial growth of The Hundred, such as The Hundred sponsorship and licensing deals, player salaries and player draft and retention mechanics."

Four of the eight teams are owned by IPL franchises and six are investors of Indian origin.

"This pivotal moment sees The Hundred become the first UK sports competition to secure franchise partnerships of this scale, drawing on world-class expertise from across global sport, media, technology, and finance. Each new investor brings a tailored vision and expertise to their team, reflecting the growing commercial and cultural momentum behind The Hundred," the ECB said in a statement.

Richard Thompson, ECB Chair, said: "The Hundred has already played a vital role in growing cricket in England and Wales - attracting new audiences, elevating the women's game, and delivering high-quality entertainment. The sheer scale of global interest we've seen throughout this process highlights just how much potential remains to be unlocked."

The current season kicks off on August 5 at Lord's.

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