Richard Thompson, chair of the England and Wales Cricket Board (ECB), has announced an ambitious target to generate at least £350 million through the sale of stakes in The Hundred. He expressed confidence that the board would "comfortably" surpass this figure, with deals expected to be finalised by early 2025.
The ECB is selling 49% stakes in each of the eight teams, transitioning them into franchises initially run as joint ventures with host counties or, in the case of London Spirit, the MCC. The sales process, managed by the US investment bank Raine Group, began in September and is now in its second phase, with a final deadline in January 2025.
Widespread Interest and a Lucrative Opportunity
Thompson highlighted the unprecedented interest from potential investors:
"Our target was to raise £350 million," he told City AM. "I think we're going to exceed that comfortably. The quality and quantity of interest have been shocking—nearly everyone in sport is at the table."
This optimism stems partly from past offers, such as a lucrative proposal by private equity group Bridgepoint to purchase a majority stake in the competition two years ago. While the ECB rejected that deal to retain control, it set a financial benchmark that has shaped its current strategy.
A Boost for English Cricket’s Future
ECB Chief Executive Richard Gould has defended the sale amid scrutiny from the Department of Culture, Media, and Sport (DCMS), emphasising its potential to secure long-term financial stability for English cricket.
"This process is a once-in-a-generation opportunity for a significant capital injection," Gould wrote in a response to DCMS. "It allows us to strengthen the financial sustainability of the sport across England and Wales."
Additionally, the ECB plans to establish a dedicated Hundred Committee to oversee the competition's administration, operations, and commercial ventures. The committee will include ECB non-executive directors, franchise representatives, and independent experts.
The ongoing sales process has attracted a diverse range of investors, including global sporting entities and IPL franchises like Mumbai Indians, Kolkata Knight Riders, and Sunrisers Hyderabad. As the competition evolves into a franchise-based model, this financial injection is expected to redefine the cricketing landscape in England and Wales.