He will be acquiring a 49% stake in The Hundred franchise team - Trent Rockets.
Todd Boehly, a Premier League Club Chelsea owner, will be acquiring a 49% stake in The Hundred franchise team – Trent Rockets. Since Boehly and his company came out on top during a live auction, it is believed that they’ve beaten Amit Jain, the owner of Kolkata Knight Riders of the Indian Premier League.
The deal will be finalized in eight weeks after the sale of Southern Brave, the last franchise.
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Cain International is a real-estate company owned by American Boehly and British businessman Jonathan Goldstein. They will pay just under GBP 40m for their stake in the Rockets, leading to a GBP 79m valuation for the whole franchise. Nottinghamshire, which hosts the Rockets at their Trent Bridge ground, will retain control of the other 51%.
Earlier, the Notts turned down some prospective suitors-such as Lucknow Super Giants, who acquired a controlling stake in Manchester Originals.
Cain was in contention for a stake in the London Spirit. Later, a 49% share in the Lord’s team was sold to Silicon Valley for GBP 145m in a bidding war.
The total sales of the stakes in seven teams of The Hundred teams have gone up to more than GBP 500m. The added value of the seven franchises is around GBP 820m.
For the last team, Brave are expected to be taken over by the GMR Group, the co-owners of Delhi Capitals. They obtained a controlling stake in host county Hampshire last year. It is believed they are seeking to bring in other investors to share 49% of the team with them.
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