English cricket chiefs confirm sale of six Hundred franchises
The England and Wales Cricket Board expect a windfall of nearly £1 billion ($1.32 billion) from an auction of Hundred franchises, with the fifth edition of the 100 balls per side tournament due to start next week.
Global investors, including four groups with links to the cash-rich Indian Premier League, have sunk vast sums of money into the competition's eight city-based teams.
The 100-balls-a-side format, which features men's and women's sides, was launched to great fanfare in 2021.
It has proved controversial, with many county cricket fans angry at the way the tournament deprives their clubs of key players at the height of the season.
The Hundred has also squeezed a marquee five-match Test series such as England's ongoing clash with India into a congested seven-week schedule so it can have much of August to itself.
But the ECB is confident that £520 million of new investment will eventually work its way into the game following a franchise auction earlier this year.
The ECB confirmed Wednesday the sale of stakes in six teams has now been completed, but the 49 percent share of Oval Invincibles to Reliance Group, the creation of the wealthy Mumbai-based Ambani family, the owners of the IPL's Mumbai Indians -- has still to be finalised.
And the joint takeover of the Trent Rockets by Cain International and Ares Management has yet to be completed as well, although the ECB said Wednesday that both deals "remain on track".
But purchases for London Spirit, Birmingham Phoenix, Manchester Originals, Northern Superchargers, Southern Brave and Welsh Fire have now been completed.
"The Hundred has already played a vital role in growing cricket in England and Wales —- attracting new audiences, elevating the women's game and delivering high-quality entertainment," ECB chairman Richard Thompson said Wednesday.
He added: "Crucially, this investment will not only fuel the competition's growth, but also channel transformative levels of funding into our professional counties and grassroots game."
Three IPL ownership groups, out of a proposed four, have completed their takeovers, with the Sun Group taking full acquisition of Northern Superchargers.
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Benjamin Sesko makes crucial transfer decision to impact Liverpool's Alexander Isak chase
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Stocks to watch next week: BP, Diageo, Disney, Uber and WPP
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Liverpool 'makes decision' on new Alexander Isak transfer bid after Newcastle rejection
Liverpool will not make another bid for Alexander Isak after their initial bid for the Swedish striker was rejected by Newcastle United. On Friday is was confirmed the Magpies had turned down Liverpool's $157.9 million offer for the 25-year-old, with Newcastle having no intention of selling the striker who has three years left on his deal. Isak, who did not travel on Newcastle's pre-season tour of Asia, has made it clear he wants to leave St. James' Park this summer. However, it has now been reported that Liverpool will not, at this time, be going back in for the Swede. The Liverpool Echo's Ian Doyle wrote on X: "#LFC indeed won't be making a second bid for Alexander Isak as things stand given the clarity of Newcastle's swift and emphatic response. The Reds offered £110m." READ MORE: Liverpool transfer news LIVE: Alexander Isak bid, Adidas kit launch, Rodrygo talks READ MORE: Luis Diaz dealt early Bayern Munich setback after Tottenham transfer agreement Having joined Newcastle from Real Sociedad in 2022 for $79.3M, Isak has become one of the best strikers in the world. He has scored 62 goals in 109 appearances for the Magpies, with 23 of those coming last term in the Premier League. Isak also netted the second goal for Newcastle during the Carabao Cup final earlier this year against Liverpool, helping the Magpies to their first silverware in 70 years. Newcastle boss Eddie Howe has reiterated he wants to keep the Magpies star striker on Tyneside. "He is still our player," said Howe in Seoul, South Korea during Newcastle's pre-season tour. "He's contracted to us. We, to a degree, control what is next for him. I would love to believe all possibilities are still available to us. "My wish is that he stays, but that's not in my full control. We have not received a formal offer for Alex, from any club. My wish is that he stays and we see him playing again next year." With Newcastle having yet to bring in a striker this summer, losing Isak would mean they need to bring in a minimum of two forwards. They value Isak at just shy of $200M ($197.4M), meaning the Reds bid fell short by around $39M. While they did add Anthony Elanga, Newcastle's efforts to strengthen their squad this summer have been thwarted by a number of different Premier League clubs, including Liverpool, who brought in Hugo Ekitike, a player who Newcastle had held an interest in since 2022. They also have Champions League football this term to deal with, with the last time they featured in the competition seeing them finish bottom of their group behind Paris Saint-Germain, Borussia Dortmund and AC Milan.
