Who owns the teams competing in The Hundred?
- Published
The sales of six of the eight franchises in The Hundred were completed last month, with Oval Invincibles and Trent Rockets still in the process of being sold.
Four teams are, or will be, owned by companies with stakes in Indian Premier League (IPL) sides, while the other four are supported by American investment.
Investors will take operational control from 1 October, meaning they will have no direct involvement in this year's competition.
Here is a list of the ownership breakdown across each team that competes in The Hundred:
Birmingham Phoenix are part-owned by American investment group Knighthead Capital Management, who have a 49% stake. Knighthead also own Birmingham City Football Club. Warwickshire County Cricket Club retained 51% ownership.
London Spirit also have an American-based minority shareholder in Tech Titans (49%). Marylebone Cricket Club own the majority 51%.
Indian company RPSG Group has purchased 70% of Manchester Originals. Lancashire Cricket Club own the other 30%. RPSG's portfolio of investments include IPL side Lucknow Super Giants and Durban's Super Giants in the SA20.
Northern Superchargers were purchased by The Sun Group, who paid just over £100m for a 100% stake. They also own IPL side Sunrisers Hyderabad and Sunrisers Eastern Cape in South Africa.
Reliance Industries Limited, owned by the Indian multi-billionaire Ambani family, have agreed to a 49% sake in Oval Invincibles. This is still to be completed. Surrey will retain the majority 51%. Reliance also own IPL team Mumbai Indians.
GMR Group, who also own IPL outfit Delhi Capitals and Hampshire, have bought a 49% stake in Southern Brave.
Chelsea co-owner Todd Boehly's company Cain International has agreed to buy a 49% share of Trent Rockets, but this is yet to be completed. Nottinghamshire Cricket Club will retain control of the other 51%.
American group Washington Freedom have a 50% stake of Welsh Fire. Host county Glamorgan own the other half.
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Why were the teams sold?
The England and Wales Cricket Board (ECB) chair Richard Thompson says the franchises were sold to "fuel the competition's growth".
More than £500m generated via the sales will also be shared among the professional counties, with at least £50m for grassroots cricket.
The ECB still retains ownership of The Hundred and control of the regulations and playing window.
A new board will be established, featuring representatives from the ECB and the competing teams, and will decide the strategic direction and commercial growth of the tournament.
Speaking about the new owners, Thompson said: "We're entering an exciting new phase and a seminal moment for cricket in England and Wales.
"We've got people who have never invested in cricket.
"Todd Boehly and Cain, they're big investors in football, you've got the Washington outfit that have invested in Edgbaston - they see the opportunity in here.
"We don't have a domestic competition that generates anything like the income that a rugby or a football does.
"There needed to be a rebalancing where we could generate an income from the halo of Test cricket, but underneath it, you need a thriving domestic competition."
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