A groundbreaking deal has been struck for a 49% stake in the London Spirit cricket franchise, valued at £145 million, marking a major milestone in the world of sports investment. The agreement highlights the global prestige of Lord’s Cricket Ground, with the entire London Spirit franchise now estimated to be worth around £300 million.
The deal, orchestrated by a consortium led by Nikesh Arora, CEO of Palo Alto Networks, sees a group of influential tech figures come together under the banner of Cricket Investor Holdings Limited. The high-profile investors include Microsoft’s Satya Nadella, Google’s Sundar Pichai, and Adobe’s Shantanu Narayen, among others. This consortium triumphed over several notable competitors, including the Glazer family (co-owners of Manchester United), Todd Boehly (a shareholder of Chelsea), and the Lucknow Super Giants from the Indian Premier League.
This investment is part of the England and Wales Cricket Board’s (ECB) strategic push to bring in fresh capital for The Hundred, its premier domestic competition. As part of the ongoing efforts, the ECB has been selling 49% stakes in each of the eight teams involved in The Hundred, with the host venues retaining a majority 51% share. Marylebone Cricket Club (MCC), which owns Lord’s, has chosen to keep control of the London Spirit’s majority share.
In another significant move, the owners of the Major League Cricket (MLC) franchise Washington Freedom, led by Indian-American entrepreneur Sanjay Govil, purchased a 49% share in the Welsh Fire franchise for £40 million. Govil, the founder of Infinite Computer Solutions, has been actively involved in cricket franchise investments since establishing Washington Freedom in 2023.
These deals follow Thursday’s successful auctions, which saw the 49% stake in Oval Invincibles sold to the owners of Mumbai Indians, an Indian Premier League team, for £60 million. Similarly, Knighthead Capital, owners of Birmingham City Football Club, acquired a 49% stake in Birmingham Phoenix for £40 million.
With these four auctions, a total of £285 million has been raised, with 10% allocated to grassroots cricket initiatives. The remaining funds will be distributed to the 18 first-class counties and the MCC.
The ECB’s strategy aims to diversify the investor base in The Hundred, ensuring a balanced mix of stakeholders and preventing a complete takeover by Indian Premier League interests. While the 2025 season is expected to retain much of its current format, changes to team names, colors, and branding could be seen by 2026.
This surge in investment underscores the increasing global appeal of The Hundred, with tech moguls and sports entrepreneurs eager to be part of the exciting new cricket format.
Stay tuned to London Pulse News for more updates on this evolving story and other local developments.
