The Hundred started in 2021 and has yet to crack the Indian market.
The England and Wales Cricket Board (ECB) is willing to risk it all. In a bid to make the Hundred bigger than ever, the ECB will allow Indian Premier League (IPL) franchise owners to rename teams even if they don’t have a majority share. The ECB will sell 49% of the eight teams and earn around £400 million (INR 4342 crore), and all 10 IPL franchises are expected to bid next month.
“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 told the Guardian.
4th Mumbai Indians team, MI London
The Mumbai Indians (MI) are looking to buy a 49% stake in the London Spirit. The franchise is believed to be the biggest one in the Hundred and is expected to garner a bid of around £100 million (INR 1085 crores) itself. Due to the ECB’s decision, the London Spirit could become the fourth that Mumbai Indians own after the MI Cape Town (SA20), MI New York (MLC), and MI Emirates (ILT20).
It means they can also rename the London Spirit to MI London. Mumbai Indians already have one of the most iconic stadiums, Wankhede Stadium, as their home base in the IPL, and if the deal goes through, they’ll have Lord’s, the Mecca of Cricket as well.
The reason why MI can’t get a majority stake in the London Spirit is because the Marylebone Cricket Club (MCC) will be gifted 51% of the stakes by the ECB. The MCC members will convene on the matter in a special general meeting next month.
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