MI, CSK, KKR among others IPL teams bid for The Hundred franchises

At least seven Indian Premier League franchises have submitted their official bid to own and operate a franchise in The Hundred. As per reports, Chennai Super Kings, Mumbai Indians, Kolkata Knight Riders, Sunrisers Hyderabad, Lucknow Super Giants, Delhi Capitals, and Rajasthan Royals have submitted their bids alongside UP Warriorz, which features in the Women’s Premier League and is owned by Dubai-based Capri Capitals group.

Meanwhile, Royal Challengers Bengaluru and Punjab Kings have distanced themselves from a potential opportunity to own a team in the United Kingdom. There’s currently no update on Gujarat Titans’ interest but the franchise in itself is in turmoil as there are plenty of reports claiming a change in ownership ahead of the IPL 2025.

According to Cricbuzz, Avram Glazer's Lancer Capitals, the co-owner of Manchester United and owners of Desert Vipers in the ILT20 have also put in their bid. As things stand, they haven’t bid for any particular team but only for an opportunity to invest in The Hundred. The England and Wales Cricket Board (ECB) will go through all the bids and pick eight potential contenders.

These contenders will then go on to discuss the commercial side of the tournament and will decide the franchise they would own. The second round will be complicated, to say the least, and the ECB will very likely go forward with this after the IPL 2025 mega-auction, which is very likely to take place in the final week of November 2024.

ECB in the meantime expects a valuation of around 75 million pounds to 100 million pounds. However, the IPL owners won’t be owning any of The Hundred teams as they will not have the majority stake. They will own 49% of the respective teams while their counties will have a 51% stake. However, they have the option to purchase the 51% share that belongs to the counties but it's difficult for the process to be completed before the next season. However, the owners of Rajasthan and Delhi are already in advance talks with a couple of county sides.