Mumbai Indians, Kolkata Knight Riders, Rajasthan Royals, Sunrisers Hyderabad and Lucknow Super Giants are some of the IPL franchises that have submitted bids expressing their passion to buy teams within the ECB-run Hundred.
The offers submitted at the last minute by potential investors are a lump sum to buy a 49% stake, which the ECB owns in each of the eight groups. Expressions of interest could be for all eight teams, which will be reduced to four in the subsequent step starting in November, when investors get to know the host counties of each Hundred franchise. After that, buyers will need to narrow their wish list down to four groups, as part of the second tier, which will then be narrowed down to two groups from which they’ll want to make their final selection.
In the year in which the ECB is eager to announce the general position of investors until early 2025, it has stressed that it will not have a tight timetable and the possibility of “underselling” what it believes is an important product. Recently, ECB President Richard Thompson said the council would also be willing to adopt a hybrid version later. This could dishearten the ECB, owner of some groups, and staff of others.
However, not everyone is on a tight schedule to submit bids as the October 18 deadline has closed. Year when almost all the IPL teams had shown interest in the Hundred a few months ago, not all of them have submitted offers. Punjab Kings opted not to bid for Hundred teams, at which point there was disagreement over whether five-time IPL champions Chennai Super Kings and capital leader CVC, which owns Gujarat Titans, have submitted bids. Pakistan Super League (PSL) winners Multan Sultans and international sports investors INEOS, owned by Jim Ratcliffe, who owns more than 27% of Manchester United’s shares and heads the football club’s operations wing, They have also chosen not to participate in the tender.
Alternative reporting via Matt Curler
