Indian Premier League (IPL) owners will reportedly get to rename teams despite only buying a minority stake in the franchises in The Hundred, England and Wales Cricket Board's (ECB) 100-ball cricket tournament. (More Cricket News)
As per a report published in the English daily The Guardian, the ECB is so eager to attract Indian investments in the franchises that even a minority stake will give them "huge influence".
As per the report, all 10 franchises are expected to bid with the London Spirit franchise expected to "attract bids worth several times more than many of the other franchises".
ECB will initiate the process of selling 49% stakes of all the eight teams next month and the board is aiming to generate £400m from the sale. The Guardian report states that the London franchise is alone expected to bring the quarter of this value.
The Ambani family, which owns the Mumbai Indians in the IPL and its sister franchises in various other leagues, is reportedly planning to raise a huge bid for London Spirit. This could lead to the franchise being named MI London on the lines of the other franchises associated with Mumbai Indians: MI Cape Town, MI New York and MI Emirates.
“All the IPL owners are saying they will bid, but they will want some control for their cash,” The Guardian quoted a source involved in the sale process as saying. “It’s essentially a big brand play for the IPL so we expect them to push for name changes, which will depend on the amount they have invested.”
Oval Invincibles, the two-time champions in the women's competition and the defending champions and the finalists in the ongoing men's event, are the second most sought after franchise.
The Guardian also reports that Rajasthan Royals are looking to invest in Northern Superchargers while Delhi Capitals want Southern Brave.
The Hundred was introduced in 2021 and has been played every year since then with the fourth season currently underway. Oval Invincibles are the men's champions while Southern Brave hold the women's title.
