The England and Wales Cricket Board (ECB) has announced the completion of deals with six strategic partners for teams in The Hundred, unlocking over £500 million in investment for grassroots and professional cricket — the biggest financial transformation in English cricket history.
With two more deals set to close shortly, the total team valuations across The Hundred have now surpassed £975 million. Each investor will co-own or fully own a team franchise, while the ECB retains control of the competition itself.
Historic step for English cricket
This marks the first time a UK sports league has completed franchise investments of this scale. The deals bring in expertise from global leaders across sport, media, tech, and finance — with operational control of teams shifting to investors by October 1, 2025.
Completed deals:
London Spirit – Tech Titans (49%)
Birmingham Phoenix – Knighthead Capital (49%)
Manchester Originals – RPSG Group (70%)
Northern Superchargers – Sun TV Network (100%)
Southern Brave – GMR Group (49%)
Welsh Fire – Washington Freedom (50%)
Deals still in progress:
Oval Invincibles – Reliance Group (49%)
Trent Rockets – Cain International & Ares Management (49%)
£500M+ to be reinvested in English cricket
The ECB confirmed that the proceeds will be split across the game, including:
£50 million ring-fenced for grassroots cricket
Major funding boosts for all 18 professional counties
Support for inclusion, women’s cricket, and underserved communities
ECB Chair Richard Thompson comments
“With these new partners on board, we’re entering a seminal moment for cricket in England and Wales. This investment will not only fuel The Hundred’s growth but also deliver transformative funding across our counties and grassroots game.”
New governance and team operation structure
A new The Hundred Board will be formed, comprising ECB officials and team representatives (both investors and host clubs). It will oversee commercial and strategic elements like:
Sponsorship and licensing
Player salaries and retention mechanics
Draft formats and marketing direction
Strategic partners share global ambitions
Each investor brings significant sports business expertise:
London Spirit – Tech Titans
“We are proud to partner with MCC for the first time in 238 years and aim to take Lord’s and London Spirit to 1B+ global fans.” – Nikesh Arora & Egon Durban
Birmingham Phoenix – Knighthead Capital
“This investment reflects our belief in Birmingham’s future and in sport’s power to unify communities.” – Andrew Shannahan & Kyle Kneisly
Manchester Originals – RPSG Group
“This is about building a society beyond cricket — a unified, passionate community.” – Dr Sanjiv Goenka
Northern Superchargers – Sun TV Network
“Tradition meets innovation in The Hundred. We’re excited to grow the game and connect with younger fans.” – Kaviya Maran
Southern Brave – GMR Group
“We see massive potential in Hampshire’s ecosystem. The Brave can become a global cricketing brand.” – Kiran Kumar Grandhi
Welsh Fire – Washington Freedom
“Our values align perfectly. We’re excited to bring a culture of growth and player support to Welsh Fire.” – Sanjay Govil
Upcoming: Oval Invincibles – Reliance Group
“The Oval is iconic — we’re proud to welcome the Invincibles into the Mumbai Indians family.” – Akash M. Ambani
Upcoming: Trent Rockets – Cain International & Ares Management
“We believe in The Hundred’s long-term future and will back Trent Rockets to lead this next chapter.” – Mark Affolter & Jonathan Goldstein
Legal and financial advisors to the ECB included Deloitte, Raine Group, Latham & Watkins, and Onside Law LLP.
