Alphabet Inc chief executive officer Sundar Pichai is joining Silicon Valley executives bidding for a London-based franchise of The Hundred, a short-format cricket tournament promoted by the England and Wales Cricket Board (ECB), Bloomberg reports.
The consortium, led by Nikesh Arora, CEO of Palo Alto Networks Inc, and Satyan Gajwani, vice chairman of Times Internet Ltd, is putting in a bid of more than £80 million ($97m) for either the Oval Invincibles or London Spirit, the business newswire, quoting “people familiar with the matter”, further reports.
Other notable members of this group include Microsoft CEO Satya Nadella, Adobe CEO Shantanu Narayen, and Egon Durban, co-CEO of Silver Lake Management LLC. Although the details are not public, insiders have confirmed the involvement of these tech leaders, Bloomberg said.
Pichai’s interest in cricket is well-known, reflecting a broader trend among Indian-origin tech leaders supporting the sport internationally.
What The Hundred is
The Hundred follows a 100-ball format and is designed to captivate both dedicated cricket fans and newcomers alike.
The competition features eight city-based teams, each representing a major city in the UK. These teams, specifically created for The Hundred, compete every summer over five weeks, with both men’s and women’s tournaments taking place simultaneously.
Each team is made up of 15 players, including a maximum of four overseas stars. The men’s teams can also have up to two centrally contracted England players. The teams are formed through a Draft system for the men’s competition, while the women’s teams have their own unique player selection process.
In the 2024 edition of The Hundred, Oval Invincibles secured their second consecutive win in the men’s competition, while London Spirit won in the women’s competition.
The Hundred will enter its fifth season in 2025, with ticket sales to commence soon.
The teams
Birmingham Phoenix (Edgbaston)
London Spirit (Lord’s)
Manchester Originals (Emirates Old Trafford)
Northern Superchargers (Headingley)
Oval Invincibles (The Kia Oval)
Southern Brave (Utilita Bowl)
Trent Rockets (Trent Bridge)
Welsh Fire (Sophia Gardens)
Bidding process
The ECB initiated a process in September to invite private investment into The Hundred’s eight teams. This move aims to bolster the sport’s financial health domestically. Managed by Raine Group, the auction is attracting significant interest, particularly for the London-based teams. London Spirit, playing at the iconic Lord’s Cricket Ground, is especially appealing to investors.
The ECB currently seeks to sell a 49% stake in each team, with the option for full ownership.
The Hundred’s annual revenue from various streams is approximately £60m ($73.3m). For context, it is worth noting that among franchise based cricket leagues, the Indian Premier League clocks $1.14 billion, followed, at a distant second, by Australia’s Big Bash League, with $178.8m.
