The landscape of The Hundred has been fundamentally transformed following a comprehensive ownership revolution that saw all eight franchises sell significant stakes to international investors. This seismic shift, which took effect from October 2025, has not only injected substantial capital into English cricket but also established fascinating connections between the competition and global T20 leagues worldwide.
IPL Powerhouses Enter English Cricket
Four franchises are now controlled by entities with direct ties to the Indian Premier League, creating intriguing cross-pollination opportunities. The most striking transformation occurred with Manchester Super Giants, where RPSG Group acquired a 70% stake for £81m. This investment creates a fascinating triumvirate, as RPSG also controls Lucknow Super Giants in the IPL and Durban's Super Giants in South Africa's SA20.
Even more dramatic was the complete takeover of what became Sunrisers Leeds. The Sun Group, architects of IPL side Sunrisers Hyderabad and South African franchise Sunrisers Eastern Cape, paid £100m for total control of the Yorkshire-based operation. Meanwhile, MI London represents perhaps the most prestigious connection to Indian cricket, with the Ambani family's Reliance Industries Limited - owners of Mumbai Indians - securing a 49% stake for an undisclosed fee.
American Investment Creates New Dynamics
Across the Atlantic influence, American investors have strategically positioned themselves within four franchises. Chelsea co-owner Todd Boehly's Cain International demonstrated their sporting appetite extends beyond football, acquiring a 49% share in Trent Rockets for £38.7m. This acquisition shifts the betting landscape considerably, with bookmakers now viewing the Rockets as potential title contenders given Boehly's track record of ambitious investment.
Birmingham Phoenix attracted Knighthead Capital Management, the American group behind Birmingham City FC, who invested £48m for a 49% stake. London Spirit commanded the highest valuation, with Tech Titans paying a remarkable £145m for their minority shareholding - a figure that underscores the franchise's metropolitan appeal and commercial potential.
Revenue Distribution and County Benefits
The financial structure surrounding these sales ensures cricket's grassroots benefit substantially. Each franchise retains 80% of revenue generated from their ownership sales, whilst 10% flows directly into recreational cricket development. The remaining portion is distributed amongst other county cricket clubs, creating a virtuous circle that strengthens English cricket's foundation.
Welsh Fire completed the ownership transformation by selling a 50% stake to Indian-American businessman Sanjay Goval, whose portfolio already includes Major League Cricket's Washington Freedom. This international connectivity positions The Hundred as a genuine bridge between cricket's major markets.
As ECB chair Richard Thompson noted, these franchise sales were designed to "fuel the competition's growth" - an objective that appears comprehensively achieved given the calibre of investors now committed to The Hundred's success. With operational control transferred and substantial rebranding completed, the competition enters its sixth season with unprecedented financial backing and global connectivity that should elevate both playing standards and commercial appeal.
