Hundreds of peopleAttempts to privatize and raise investment through the sale of concessions have paved the way for a three-round bidding process, the first of which will begin today (October 18).
The England and Wales Cricket Board (ECB) sent an investment prospectus to more than a hundred groups last month, with a number of high-profile names showing interest.
hollywood actor Ryan ReynoldsCo-owner of Wales Wrexham Football Club, interested in Wales Flames and Nine Indian Premier League (intense pulsed light) franchisees are keen to acquire shares.
Apart from Royal Challengers Bangalore (RCB) and Gujarat Titans’ new partner Torrent Group, all other teams are interested. Even GT’s minority shareholder partner CVC is believed to be interested and will be involved through its UK arm.
IPL giants mumbai indiansThe partnership is being expanded with teams in different cricket leagues around the world and they have been in lengthy discussions with the home team (London Spirit) and the Oval team (The Oval Invincibles) and may eventually set up a base there.
GMR Group, which owns 50 per cent of Delhi Capitals, is understandably keen on Souths Braves after going through a tough period. Historic deal with Hampshire earlier this month.
GMR’s acquisition of Hampshire Cricket is the first entry of overseas investors into the English county and gives them control of the Utilita Bowl, Hilton Hotel and the 18-hole golf course adjacent to the cricket ground. It also enhances GMR’s cricket portfolio, which includes teams from the IPL, Emirates ILT20 and Major League Cricket.
Birmingham (Birmingham Phoenix) and Leeds (Northern Supercharger) have attracted interest due to their strong Indian diaspora. Kolkata Knight Riders (KKR) are keen to reach the hundred and it won’t be a surprise if Rajasthan Royals (RR) are also aggressive. RR’s co-owner Manoj Badale lives in England, so it would make sense for them to have some presence in the hundred as well.
Lucknow Super Giants (LSG) owner Sanjeev Goenka is also in touch with Avram Glazer, shareholder of Premier League giants Manchester United and NFL team Tampa Bay Buccaneers , as long as there is an opportunity, he is interested in investing. Goenka, who bought the LSG franchise in 2021 for Rs 7,090 crore, was the owner of the Pune Supergiants that emerged in the cash-rich league in the 2016 and 2017 seasons.
More than two dozen Indian groups expressed interest, and they were thoroughly vetted by the Rennes Group and appointed as their “financial adviser” by the ECB. India’s presence will become clearer in the coming weeks as the European Central Bank looks to keep the Top 100 healthy through private investment.
