A Significant Investment in Trent Rockets by Todd Boehly
Todd Boehly, the co-owner of Chelsea Football Club, has made a notable foray into the world of cricket with the acquisition of a 49% stake in the Trent Rockets, a franchise in the England and Wales Cricket Board’s (ECB) 100-ball competition, The Hundred. The deal, valued at nearly £40 million, marks the seventh team in the competition to be sold, with only the Southern Brave remaining on the market. Nottinghamshire, the county cricket club, will retain its 51% majority stake in the Rockets, while Boehly’s investment firm, Cain International, will acquire the remaining 49% from the ECB. This move underscores the growing interest of international investors in The Hundred, a format designed to attract a new, younger audience to cricket.
The Rising Value of The Hundred Franchises
The sale of the Trent Rockets highlights the rapidly increasing value of The Hundred franchises, with the cumulative worth of the teams now exceeding £800 million. Among the most notable deals is the acquisition of a 49% stake in the London Spirit by a U.S.-based technology consortium led by Nikesh Arora for a staggering £145 million. This investment values the franchise at nearly £300 million, making it one of the most valuable teams in the competition. The London Spirit, based at Lord’s Cricket Ground, is expected to benefit significantly from this investment, which reflects the growing appeal of The Hundred to global investors.
A Snapshot of The Hundred Franchise Sales
The Hundred has attracted a diverse range of investors, each bringing their own unique perspective and resources to the competition. The Oval Invincibles, for instance, have secured a 49% stake from the Ambani family, owners of the Mumbai Indians in the Indian Premier League (IPL), for £60 million. The Birmingham Phoenix, meanwhile, has been partially acquired by Knighthead Capital, the co-owners of Birmingham City Football Club, for £40 million. The Manchester Originals have sold a majority 70% stake to the RPSG Group, owners of the Lucknow Super Giants in the IPL, for £81 million. The Northern Superchargers have been fully acquired by the Sun Group, which also owns the Sunrisers Hyderabad in the IPL and the Sunrisers Eastern Cape in the SA20 league, for £100 million. The Welsh Fire has also found a buyer in Sanjay Govil, who purchased a 49% stake for £40 million. These deals not only highlight the financial strength of The Hundred but also underscore its global appeal.
The Buyers Behind The Hundred Franchises
The investors in The Hundred franchises bring a wealth of experience and success from various fields, including sports, technology, and business. Todd Boehly, for instance, is no stranger to high-profile investments, having purchased Chelsea Football Club in 2022 for £4.25 billion. He also holds a minority stake in the LA Dodgers, a Major League Baseball team, and is the co-owner of the French football club Strasbourg. Boehly’s interest in The Hundred reflects his belief in the growth potential of cricket as a global sport. Similarly, the Ambani family’s investment in the Oval Invincibles demonstrates the strong ties between The Hundred and the IPL, one of the most successful T20 leagues in the world. The involvement of such high-profile investors not only injects capital into the competition but also brings a level of expertise and credibility that is likely to enhance its reputation and appeal.
Financial Breakdown and Revenue Distribution
The financial arrangements surrounding The Hundred franchise sales are designed to benefit both the ECB and the individual county clubs. The ECB will retain a portion of the revenue generated from the sale of the 49% stakes in each franchise, with the remaining proceeds distributed among the 18 first-class counties and the Marylebone Cricket Club (MCC). If a host county decides to sell all or part of its 51% stake in a franchise, 10% of that revenue will also be shared among the counties and the MCC. This model ensures that the financial benefits of The Hundred are distributed widely, supporting the development of cricket at all levels in England and Wales. The revenue generated from these sales is expected to play a crucial role in sustaining and growing the game, both at the professional and grassroots levels.
The Future of The Hundred and Its Global Appeal
The success of The Hundred franchise sales is a testament to the growing popularity of cricket and its ability to attract investors from around the world. The competition has been hailed as a game-changer for English cricket, offering a fresh and exciting format that appeals to a younger generation of fans. With the involvement of high-profile investors like Todd Boehly, the Ambani family, and others, The Hundred is well-positioned to become a major player in the global cricket landscape. As the competition continues to evolve, it is likely to attract even more investment, further solidifying its place as one of the most valuable and watched cricket leagues in the world. The sale of the Trent Rockets to Todd Boehly is just the latest chapter in what promises to be an exciting and transformative journey for The Hundred.
