ECB Targets Indian Investment: IPL Franchise Owners May Rename Hundred Teams

Since the England and Wales Cricket Board (ECB) is set to sell shares in the eight Hundred teams in September, the owners of Indian Premier League (IPL) franchises might be allowed to rename the teams even if they have obtained a partial ownership.

According to a source in The Guardian, the ECB is so eager to attract Indian cash that even a minority investment will give the new owners a great deal of clout—especially since all ten IPL owners are expected to offer to acquire shares in the eight teams, according to IANS.

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“All the IPL owners are saying they will bid, but they will want some control for their cash. It’s essentially a big brand play for the IPL so we expect them to push for name changes, which will depend on the amount they have invested,” a source involved in the sale process was quoted as saying in the report.

It went on to say that the Ambani family, who presently owns the five-time IPL champion Mumbai Indians as well as its sister teams in the USA, UAE, and South Africa T20 leagues, MI New York, MI Emirates, and MI Cape Town, is thinking about putting in a big bid to buy a portion of the London Spirit team and rename it MI London.

“London Spirit are viewed as the jewel in the crown of the Hundred auction and expected to attract bids worth several times more than many of the other franchises when the ECB begins the process of selling 49% of the eight teams next month,” said the report, while adding that London Spirit may account for a quarter of the sales revenue of The Hundred.

It continued by saying that the ECB had been in talks for the last few months with potential investors, which included Hollywood star Ryan Reynolds, the owner of an American sports franchise, and Manchester United’s owner Avram Glazer, who indicated interest in buying shares in the Hundred teams.

The American company Knighthead Capital, who owns Birmingham City, has indicated interest in investing in Birmingham Phoenix.

One of the company’s notable investors is NFL legend Tom Brady, who has been to several current Hundred matches.

“The governing body has been given the green light by the counties to formally begin the process next month, which will be run by the American bank, the Raine Group, which also managed the recent sales of United and Chelsea,” added the report.

These actions align with the expectation that the Delhi Capitals, who recently acquired Hampshire for 120 million pounds, will try to acquire a share in the Southern Brave, and that the IPL 2008 winners, the Rajasthan Royals, will bid for the Northern Superchargers as part of their acquisition of Yorkshire.