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July 31, 2025

ECB Secures Franchise Deals for Six of Eight Hundred Teams

ECB Secures Franchise Deals for Six of Eight Hundred Teams
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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

  1. Sustainable growth: This windfall alleviates financial burdens across the county cricket structure and strengthens grassroots investment.
     
  2. 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.
     
  3. 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.


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