Franchise relationships with six of the eight teams in The Hundred have been officially confirmed by the England and Wales Cricket Board (ECB), a development that marks a sea change in the format and the source of finances of this competition.
The completed deals involve the following teams and investors:
- London Spirit – Tech Titans consortium (49%)
- Birmingham Phoenix – Knighthead Capital Management (49%)
- Manchester Originals – RPSG Group (70%)
- Northern Superchargers – Sun TV Network (100%)
- Southern Brave – GMR Group (49%)
- Welsh Fire – Washington Freedom (50%)
The remaining two franchises—Oval Invincibles and Trent Rockets—are expected to close their deals later in the year, with both agreements considered "on track".
Financial Impact & Strategic Significance
- Valuation bump: The six deals boost The Hundred franchises' valuation to a cumulative pound 975 rn targeting, up to over pound 500 rn the ECB plans to put back into the English and Welsh cricket ecosystem--of which pound 50 rn will be spent on grassroots development.
- Operational change: New investor takes official operational control on 1 October 2025, but ECB maintains overall ownership and regulatory power over the competition.
- Long-term structure: Strategic, commercial, and regulatory choices will be long-term oriented with a new Hundred Board, which will include the representatives of the ECB, host countries, and investor groups making the decisions, which could include sponsorship, player retention, and schedule.
Why It Matters
- Sustainable growth: This windfall alleviates financial burdens across the county cricket structure and strengthens grassroots investment.
- Cross-border appeal: Major strategic bets from companies such as Tech Titans and GMR recognised The Hundred as valuable and propelled it to be the second-highest valued cricket league globally.
- Women’s game uplift: Many investors have committed to elevating the profile and reach of the women’s competition, aligning with the ECB’s inclusivity goals.
What’s Next
- The rest of the deals involving Oval Invincibles (Reliance Group) and Trent Rockets (Cain International & Ares Management) will likely be sorted out by September 2025.
- The 2025 season of The Hundred will take place between 5 and 31 August, following which the new partnerships will come into play.
The franchise milestone is not just a commercial success, but a landmark event that brings steps in the balance of tradition and innovation and supports The Hundred as the key to the future of the England and Wales cricket game.