Seven IPL Franchises Interested in Buying Teams in The Hundred

Next year, England will launch new season of The Hundred, a 100-ball cricket tournament. This tournament has sparked significant interest among IPL franchises, with seven of them already expressing their desire to purchase teams in the event.

According to a report by the popular cricket website Cricbuzz, IPL franchises have shown great enthusiasm for The Hundred. Seven leading IPL teams, including Mumbai Indians (MI), Chennai Super Kings (CSK), and Kolkata Knight Riders (KKR), have submitted bids. Other franchises like Sunrisers Hyderabad (SRH), Lucknow Super Giants (LSG), Delhi Capitals (DC), and Rajasthan Royals (RR) have also placed their bids.

The England and Wales Cricket Board (ECB) had invited bids from interested companies to buy stakes in the teams. The deadline for submitting bids was October 18.

The Cricbuzz report mentions that investing between £40 million to £50 million would be required to acquire a 49% share in each team, while the remaining 51% would remain with the respective county.

ECB Chief Executive Richard Gould said, "The ECB plans to gift the remaining shares of each team to their respective county teams, creating a permanent partnership between the new investors and some of the world’s iconic cricket institutions. The ownership structure will be built on this foundation."