A high-profile consortium of tech billionaires has struck a landmark deal worth £145 million to acquire a 49% stake in the London Spirit cricket franchise, securing a partnership with the iconic Lord’s Cricket Ground. The agreement values the entire franchise at approximately £300 million, underscoring the prestige of Lord’s as a global cricketing hub.
The consortium, led by Nikesh Arora, CEO of cybersecurity giant Palo Alto Networks, outbid notable competitors, including the Glazer family (co-owners of Manchester United), Chelsea shareholder Todd Boehly, and Indian Premier League side Lucknow Super Giants. The group, operating under the name Cricket Investor Holdings Limited, comprises 11 high-net-worth individuals, including Microsoft CEO Satya Nadella, Google CEO Sundar Pichai, and Adobe CEO Shantanu Narayen.
This deal is part of a broader effort by the England and Wales Cricket Board (ECB) to attract investment into *The Hundred*, its flagship cricket competition. The ECB is selling 49% stakes in each of the eight franchises, while the host venues retain a 51% share. Marylebone Cricket Club (MCC), which owns Lord’s, has chosen to keep its majority stake in London Spirit.
In a separate deal, the owners of Major League Cricket (MLC) franchise Washington Freedom, led by Indian-American IT entrepreneur Sanjay Govil, secured a 49% stake in Welsh Fire for around £40 million. Govil, founder of Infinite Computer Solutions, has been actively involved in cricket franchise ownership since launching Washington Freedom in 2023.
The two deals follow Thursday’s auctions, which saw a 49% stake in Oval Invincibles sold to the owners of Indian Premier League team Mumbai Indians for £60 million, and a similar share in Birmingham Phoenix acquired by Knighthead Capital, owners of Birmingham City Football Club, for £40 million.
So far, the four auctions have raised approximately £285 million, with 10% of the proceeds earmarked for grassroots cricket. The remaining funds will be distributed among the 18 first-class counties and the MCC.
The ECB aims to blend diverse investors into The Hundred, avoiding a complete takeover by Indian Premier League interests. While the 2025 season is expected to remain largely unchanged, team names, colors, and branding could see updates by 2026.
This wave of investment highlights the growing appeal of cricket’s newest format, with tech moguls and sports entrepreneurs alike vying for a piece of the action.
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