Five IPL franchises show interest in Lord's Hundred stake, says MCC president Mark Nicholas

The world of cricket is witnessing a significant development as five IPL franchises have expressed a soft interest in acquiring a stake in London Spirit, the Lord's-based team competing in the Hundred tournament. This revelation comes from, the MCC president, Mark Nicholas, who is set to take over as the club's chairman in October.

Nicholas announced the plans for the inaugural World Cricket Connects symposium, an event organized by MCC to bring together influential figures from the cricketing world. The symposium, scheduled for July 5, aims to shape the sport's global success and provide a balanced platform for stakeholders to discuss the game's future.

The interest from IPL franchises in London Spirit's Hundred stake shows the growing appeal of franchise cricket and the potential for expansion and investment. With the ECB's proposal to privatize the Hundred tournament, the eight host teams, including London Spirit, are being offered 51% stakes, with the remaining 49% to be sold to private investors through a bidding process.

"What we are putting to a vote is to accept the ECB's offer of a 51% share of this franchise. We will always be a members' club. The first target is membership harmony [because] as a member you are entitled to a view. It's very easy to knock people back because they're difficult, but actually there is quite a lot of good thinking that comes out of activism. You have to treat people with respect, and hear their view," said Mark Nicholas as quoted by ESPNcricinfo.

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Hundred has given us another opportunity: Mark Nicholas

Nicholas emphasized the importance of gaining the backing of MCC's 24,000-strong membership before accepting the ECB's offer. He described the move towards private equity as a monumental step that would ultimately benefit the game's growth at all levels.

"We missed out on T20 in 2003 where we could have grabbed it. India thought quicker than us and were smarter than us, as India often is. India moves at an extraordinary pace to make things work," Nicholas added.

"So the Hundred has given us another opportunity. The [MCC] membership quite likes being part of the chat, not being consigned to a piece of history. The members I talk to really love the idea of having a team, love the opportunity that it brings. There will be financial opportunity, either in growth of the equity or in sale of the equity," he said.

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The ECB has appointed Raine Group and Deloitte as advisors for the Hundred privatization process, and while there is no formal deadline, they are eager to finalize terms by the end of the year.

"The real truth is that not everything is clear yet. For example, how would the bidding process take place? What's the rollout of these franchises in the bidding? We don't know that yet. The ECB haven't declared that. We have met the investment bank - I'm not sure they even know yet. There's still a lot for us to learn," he concluded.