LONDON: Indian billionaires Sanjiv Goenka and Mukesh Ambani have put in opening bids for multiple franchises in the Hundred, TOI can confirm. Both billionaires offered bids to the England and Wales Cricket Board (ECB) in the first round of bidding last Friday to buy stakes in multiple teams, insiders said.
Others believed to have bid in the first round include the Glazer siblings, who own a majority stake in Manchester United and the director of Chelsea Football Club Jonathan Goldstein.
The Hundred is a 100-ball cricket tournament first held in 2021 featuring eight teams situated in iconic British venues. The ECB is set for the first time to sell 49% stakes of each team to investors. There are three rounds of bidding.
The Ambanis own Mumbai Indians in the IPL, as well as three other T20 teams – MI Cape Town, MI New York and MI Emirates. If the Ambanis were to buy London Spirit which is based at Lord’s, it could lead to them renaming it MI London.
Last week at a special general meeting, MCC members voted on whether to accept the offer of a 51 per cent share in the London Spirit franchise. Voting remains open until Monday.
Goenka, the founder and chairman of RPSG Group, already owns the IPL team Lucknow Super Giants and Durban’s Super Giants, which plays in the SA20 in South Africa. A stake in any of the Hundred teams will be an extension of that. It is understood that Goenka has bid for several teams.
Decisions on successful bidders will be made by the ECB and the relevant host venue and announced in 2025. The first-round valuation of the eight teams is thought to be around £500 million. The proceeds from the sale will be shared across the recreational and professional game in the UK.
Team owners will get a share of central revenues, such as broadcast rights and central competition sponsorship.
“It wouldn’t be appropriate for us to confirm either the name of interested parties or the value of any of the bids submitted. We are delighted by the level of interest we’ve seen, and the enthusiasm of investors from within the UK and around the world to become part of the competition,” an ECB spokesperson said.
There was no response from the Ambani group and the RPSG group declined to comment.
(UK correspondent for TOI)
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