The Mumbai Indians owners are targeting a London-based franchise.
Kolkata Knight Riders (KKR) and Chennai Super Kings (CSK) are the latest Indian Premier League (IPL) teams to exit from the upcoming sale of The Hundred franchises, slated to officially begin tomorrow (January 30). Although both IPL heavyweights showed interest initially, they have now decided to pull out as the business end approaches.
On the contrary, Mumbai Indians (MI) and Sunrisers Hyderabad (SRH) alongside Lucknow Super Giants (LSG) are still left in the race for the seven remaining sides.
Previously, owners of Delhi Capitals – GMR Group had acquired majority stakes in Hampshire, which manages the Southern Brave franchise in The Hundred.
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Mumbai Indians, owned by Reliance Industries (RIL), along with a consortium of US-based tech companies, are reportedly in contention to acquire the Invincibles. While the Oval franchise was initially reluctant to sell its stake, recent developments indicate a shift in stance, with the county now open to the possibility. The ECB is offering a 49% stake, though full control would only transfer to the new owner if the county, which retains the remaining 51%, decides to sell as well.
It is also understood that the England and Wales Cricket Board (ECB) will sell the teams in phases, allowing potential investors to stay in the race even if they don’t secure a team in the initial round.
For each team, two or three potential buyers will compete, with the ECB expected to either conduct an e-auction or invite sealed bids from interested parties.
ECB will take Birmingham Phoenix which will conclude the first day of the auction process. The second day will see the franchises go under the hammer, ending with GMR Group competing with an investor to buy 100 per cent stake of Southern Brave.
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