At least four IPL franchises, along with a consortium of global technology giants, comprising leaders from Google and Microsoft, are on the short list to advance to the final round of the sale of the eight hundred franchises by the ECB.
The ECB drew up its shortlist on December 23, following initial rounds of consultations between the host countries of the eight franchises and investors at the end of 2024. This was based on a wish list of the host countries, as well as the non-binding minimum valuation. Price that investors set for each of the teams they bid on. In the initial round, investors could bid for all eight franchises, but in the shortlist, the ECB has assigned each investor at least one franchise based on their wish list.
The ECB has confirmed with the pre-selected investors that its final offer will be binding and cannot be lower than the minimum valuation price, which would act as a reserve price in the final round. With the bidding process not yet over and the ECB set to announce the 2025 Hundred season schedule this week, the new owners will only take over from 2026.
Unsurprisingly, both London-based franchises, Oval Invincibles (presented by Surrey) and London Spirit (presented by MCC) have had the most suitors, but Manchester Originals (presented by Lancashire) have proven equally popular. Shortlisted for the Invincibles are five-time IPL champions Mumbai Indians and the consortium of tech giants, while Lancer Capital, run by Manchester United co-owner Avram Glazer and running Desert Vipers in the ILT20, has shown great interest in both London teams.
Sanjeev Goenka’s RPSG group is also in the shortlist to buy Spirit. Goenka owns the most expensive IPL franchise, Lucknow-based Super Giants, which was launched in 2022. RPSG’s minimum valuation in previous rounds for the Spirit is believed to have been a nine-figure sum. It is also understood that RPSG have been shortlisted by the Originals, whose home base is Old Trafford, along with at least two other franchises.
Mumbai is also on the Manchester Originals shortlist. It is understood that investor interest in the city is because it is synonymous with two of the Premier League’s most famous football clubs – Manchester United and Manchester City. As a university city, it also has a significant young population, which is another attractive factor.
Sun Group, owner of the Sunrisers franchises in IPL and SA20, is understood to be shortlisted for three hundred teams: Nottingham-based Trent Rockets, Leeds-based Northern Superchargers and Cardiff-based Welsh Fire. Global fund manager CVC Capital Partners, which bought the Gujarat Titans franchise in IPL in 2021, is understood to be on the Birmingham Phoenix shortlist.
Originally, several other IPL team owners had expressed interest in buying stakes in Hundred franchises, including Chennai Super Kings, Kolkata Knight Riders, Rajasthan Royals and Punjab Kings. However, it is understood that neither the Royals nor Punjab are on the shortlist at the moment. It could not be confirmed whether the Super Kings and Knight Riders, who have teams in foreign T20 leagues outside India, have been shortlisted. Sanjay Govil, the American businessman who owns Washington Freedom, is understood to be interested in three franchises, all based outside London.
Additional reporting by Matt Roller.
Nagraj Gollapudi is news editor at ESPNcricinfo
