A consortium of prominent tech leaders, including Microsoft CEO Satya Nadella, Google CEO Sundar Pichai, and Times Internet VC Satyan Gajwani, has acquired a 49% stake in The Hundred‘s London Spirit for a staggering £295 million.
This landmark deal underscores the increasing convergence of technology and sports and highlights the growing appeal of The Hundred.
While it remains unclear if the consortium intends to acquire a majority stake in the future, the current valuation suggests the 49% share purchased from the England and Wales Cricket Board (ECB) is worth approximately £145 million.
Mark Nicholas, the Chair of MCC, said, “It’s with great pleasure that I can announce that Cricket Investor Holdings Limited, a consortium led by Nikesh Arora, will be our new partner and co-owners of the London Spirit franchise in The Hundred.
“This historic news comes after ECB’s sales process to identify an investment partner for a 49% stake in London Spirit (with MCC being gifted the other 51%). MCC has been fully involved throughout ECB’s process and what an exciting time it has been. All those we spoke to were so eager to be a part of what we do and it is a huge credit to everybody at Lord’s that there has been this remarkable interest.
“Today’s announcement shows what we as Members have always known: our Club is special. It’s why people want to be involved with us. I hope that all Members are as proud as I am and excited at the opportunities that lie ahead.”
The consortium, which also includes billionaire tech executive Nikesh Arora, won a competitive bidding process, demonstrating their confidence in The Hundred’s potential and their commitment to London Spirit. The acquisition is expected to provide the team with increased financial resources, enhanced brand visibility, and access to the consortium’s extensive network of expertise. The new ownership group aims to build on the team’s existing strengths and drive them to greater success.
This deal follows similar investments in The Hundred by other notable figures. Knighthead Capital Management LLC, a firm in which the NFL legend Tom Brady holds a minority stake, acquired a 49% stake in Birmingham Phoenix. Reliance Industries Limited, owner of the Indian Premier League (IPL) team Mumbai Indians, acquired The Hundred team Oval Invincible. These investments signal a growing trend of prominent investors, particularly from the tech and sports worlds, recognizing the potential of The Hundred.