Manchester United And Chelsea Owners Battle To Invest In This Popular Cricket Franchise: Report
Times Now November 15, 2024 01:39 PM

Franchise cricket has seen a rapid boom in the last few years. Cricket leagues like IPL and BBL have contributed significantly to the expansion of sports all over the world. The Hundred has been one of the most popular franchise leagues as its unique format has attracted attention from all over the world. Lord’s-based London Spirit have emerged as one of the most popular franchises in The Hundred. It is no more secret that the England and Wales Cricket Board has expressed their desire to sell 49% stake in each of the Hundred teams and talks have been held with a number of investors. As per the Telegraph, both Manchester United and Chelsea are the frontrunners to invest in the London Spirit alongside Formula One and MotoGP owners Liberty Media Group. As per the report, the owners of Mumbai Indians, Chennai Super Kings and Lucknow Super Giants are also interested in taking up a stake in the Hundred franchise. It is understood the remaining 51 per cent stake will be gifted to the host county and they can keep or sell as many shares as they would like in future. A minimum sum of £350 million is expected to be raised by ECB from the proceedings. Lancer Capital, which is chaired by Manchester United majority shareholder Avram Glazer also holds an interest in the Oval Invincibles. Chelsea co-owner Todd Boehly-backed Cain International, which is led by Chelsea director Jonathan Goldstein is also in the running for a stake in the London Spirit. Multiple investors have reportedly made their bid for more than one franchise. MCC and the stakeholders of London Spirit have already had a round of meeting with the six interested parties and it remains to be seen how things shape up in the near future.

© Copyright @2024 LIDEA. All Rights Reserved.