Overview

• Six of eight teams—London Spirit, Birmingham Phoenix, Manchester Originals, Northern Superchargers, Southern Brave and Welsh Fire—have finalised minority stake deals with global investors, including four IPL franchise owners
• An auction valued all eight franchises at over £975 million, unlocking a £520 million windfall that includes a dedicated £50 million commitment to grassroots cricket
• New investors will assume operational control in partnership with host counties from October 1, 2025, under a governance model that preserves the ECB’s regulatory authority and competition ownership
• Deals for the Oval Invincibles (Reliance Group) and Trent Rockets (Cain International & Ares Management) remain on track for formal completion by October 1, 2025
• ECB chair Richard Thompson described the transaction as evidence of The Hundred’s growth potential and a crucial step in securing long-term sustainability for cricket across England and Wales