The Chelsea owner beat SRK-owned KKR and will compete against MI, LSG, and SRH |Courtesy - AP/BCCI
KEY HIGHLIGHTS
- Chelsea's owner won the bid to sign a Hundred Team over KKR
- Mumbai Indians, Lucknow Super Giants, and Sunrisers Hyderabad have also acquired teams
- ECB decided to sell atleast 49% stake in each franchise
After an investment by a string of Indian Premier League's (IPL), England's The Hundred League will also now have participation from the world of football, as co-owner of European Giants Chelsea Todd Boehly has purchased a 49% stake in the Nottingham-based franchise Trent Rockets.
As per a report by EspnCricinfo, Cain International, led by Boehly and Chelsea director Jonathan Goldstein, won the rights to purchase the franchise after winning a bidding war in a live auction over the owners of Kolkata Knight Riders (KKR). It is worth noting that Bollywood superstar Shah Rukh Khan, alongside veteran actress Juhi Chawla and her husband Jay Mehta, owns the three-time Indian Premier League (IPL) champions. Indian investor Amit Jain, who was working with Royal Challengers Bengaluru (RCB), was also part of the bidding process.
It has been reported that Boehly will pay around £40m (Rs. 430 crore approx) for his stake, valuing the franchise at £79m (Rs. 849 crore approx).
So far, the decision to sell a hundred teams to private owners and convert the tournament into a franchise model has seen some big investments. London Phoenix, who play their home games at Lord's, have been the most expensive sale so far as a Silicon Valley consortium purchased a 49% stake for £145m (Rs. 1559 crore approx). The Ambani family-owned Mumbai Indians purchased a 49% stake in Oval Invincibles for £60m (Rs. 645 crore approx). Lucknow Super Giants' (LSG) owner Sanjiv Goenka purchased a 70% stake in Manchester Originals for £81m (Rs. 871 crore approx), while the Sun Group, which owns the Sunrisers Hyderabad (SRH), purchased a 100% stake in the Northern Superchargers for £100m (Rs. 1075 crore approx).
There was investment from the USA's National Football League (NFL) as Knighthead Capital, who have a business partnership with legendary player Tom Brady, purchased a 49% stake in Birmingham Phoenix for £40m (Rs. 430 crore approx).
Major League Cricket (MLC) Champions Washington Freedom's owner, Sanjay Govil, purchased 49% stake in the Welsh Fire.
Manchester United co-owners Glazer Family were also rumoured to be interested in a buying a team but have not purchased anyone so far. They already own the Desert Vipers in the United Arab Emirates (UAE)-based ILT20.
Southern Brave are the only team yet to be auctioned, with the process set to take place tonight. Delhi Capitals co-owner GMR Group are favourites to win the bid, having already purchased a majority stake in the franchise's home county, Hampshire.
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