Hundred Franchise Sale Attracts Wide Range of Investors, ECB Defends Valuations
The Hundred, England’s new 100-ball cricket competition, has attracted a wider range of potential investors than anticipated ahead of Friday’s first-round deadline for bids. The ECB’s senior leadership team expressed confidence in the Hundred’s projected valuations, particularly the overseas broadcast rights, which are expected to jump from £2 million per year to £33 million by 2030.
The ECB sent investment prospectuses to around 100 interested parties last month, who were given until October 18 to register their initial interest in buying a stake in one of the eight Hundred teams. The teams are currently owned by the ECB but will become franchises run as joint-ventures with host counties once the sale process is complete.
ECB chief executive Richard Gould and chair Richard Thompson defended the projected increase in revenue from Indian broadcast rights, despite concerns raised by some prospective investors. Gould emphasized that the ECB is not assuming that Indian men’s players will be released to participate in the Hundred, but remains confident in the product’s appeal.
“We are confident in our product, in terms of the window we occupy and the players we’ve got available,” Gould said. “There are loads of T20 and short-format franchise competitions out there at the moment, and I don’t think they are all going to last, in truth.”
Gould revealed that “about 100 or so” interested parties had requested access to the ECB’s “data room,” including significant interest from India, America, and other sports and investment houses. He added that the ECB is aiming to maximize the value of the franchises while ensuring that the game’s interests are protected.
“We’re getting towards the end of stage one this week… at the moment, they can express an interest in all eight clubs,” Gould said. “We’ll have a better indication over the next week or two. Thereafter, we’ll spend a month or so going through those. At the end of that process, they will be able to go and meet the county clubs and see where their relationships work best.”
Thompson emphasized that the investment base for the Hundred is “way broader and bigger” than expected, with Raine Group initially estimating three to four bidders per team. However, the ECB is not rushing the sale process and may consider a “hybrid” model in 2025, with some teams still owned by the ECB and others by private investors.
