The Hundred has changed beyond recognition off the pitch over the past year. All eight franchises have now sold ownership stakes ahead of the competition's sixth season, bringing in some of the biggest names in global sport and business. With investors taking operational control from October 2025, we've already seen team rebrands, new kits, and fresh logos — and that's before a ball has been bowled. As someone who has followed the evolution of franchise cricket closely, I think it's worth taking stock of exactly who is now pulling the strings.
IPL Giants Move Into English Cricket
Four of the eight Hundred franchises are now backed by ownership groups with direct ties to the Indian Premier League, which tells you everything about the direction English franchise cricket is heading. The most eye-catching of these deals involves the Ambani family, one of India's most powerful dynasties. Through their company Reliance Industries Limited, the Ambanis — who also own Mumbai Indians — completed a 49% purchase of the newly renamed MI London in December 2025, with Surrey retaining the majority stake. The MI rebrand of the former Oval Invincibles is the most visible sign of how deeply IPL culture is now embedded in The Hundred.
Elsewhere, the Sun Group, the organisation behind Sunrisers Hyderabad and Sunrisers Eastern Cape, bought Northern Superchargers outright for £100 million, rebranding the Headingley-based side as Sunrisers Leeds. RPSG Group, owners of Lucknow Super Giants, paid £81 million for a 70% stake in what is now Manchester Super Giants, with Lancashire holding the remaining 30%. GMR Group, who already own Delhi Capitals, added a 49% share of Southern Brave to their portfolio for £48 million, with Hampshire retaining the other half.
American Money Flows Into the Competition
On the other side of the ledger, four franchises have attracted investment from North America. Perhaps the most intriguing deal for sports fans is the involvement of Todd Boehly's company Cain International, which agreed a 49% share of Trent Rockets in October 2025 for £38.7 million. Boehly, of course, is already a co-owner of Chelsea, so his appetite for UK sport is well established. Nottinghamshire retain 51% control of the Rockets.
London Spirit secured a significant injection from Tech Titans, an American-based group that paid £145 million for a 49% stake — the largest single franchise investment of the entire process — with MCC holding the majority. Birmingham Phoenix, meanwhile, brought in Knighthead Capital Management, the American group that also owns Birmingham City, for £48 million in exchange for a 49% share, with Warwickshire keeping control. Welsh Fire completed their sale to Indian-American businessman Sanjay Goval, whose group already runs Major League Cricket's Washington Freedom. Goval's consortium purchased a 50% stake, leaving Glamorgan as equal partners.
What's the Financial Structure?
It's worth understanding how the money flows within this model. Each franchise retains 80% of the revenue generated by selling its own stake, which explains why counties were broadly supportive of the process. Ten percent is directed towards the recreational game — a crucial detail for grassroots cricket supporters who worried investment would only benefit the elite — and the remaining portion is shared among the other counties. ECB chair Richard Thompson described the sales as a way to "fuel the competition's growth", and with the calibre of investors now involved, it's difficult to argue with that ambition.
What Does This Mean for The Hundred?
From a purely analytical standpoint, this level of global investment changes the competitive landscape considerably. Franchises with deep-pocketed backers will likely pursue more aggressive recruitment strategies, which should raise the standard of cricket on the pitch. For those interested in the betting markets, the reshaping of team identities — particularly the rebrands of MI London and Sunrisers Leeds — could influence outright odds as punters reassess the likely strength of each squad under new ownership philosophies. The Hundred is no longer just an ECB experiment; it is now a serious player in the global franchise cricket ecosystem, and the ownership map reflects exactly that.
