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A consortium of top tech executives from the United States has made a groundbreaking move in franchise cricket by securing ownership of London Spirit in The Hundred. The high-profile group outbid strong contenders, including Sanjiv Goenka, the owner of the IPL’s Lucknow Super Giants, to acquire the prestigious Lord’s-based team.
Microsoft head Satya Nadella, Google CEO Sundar Pichai, Times Internet vice-chairman and Major League Cricket (MLC) co-founder Satyan Gajwani, and billionaire tech entrepreneur Nikesh Arora have collectively secured London Spirit at a valuation of GBP 295 million. While the consortium has initially acquired a 49% stake, which earned the ECB GBP 145 million, it remains to be seen if they will pursue majority ownership in the future.
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Tech Moguls Shake Up The Hundred Auction
The sale of London Spirit followed another major deal, with Washington Freedom from Major League Cricket acquiring Welsh Fire for GBP 65 million. With just four teams sold, the ECB has already raised over GBP 300 million, surpassing initial projections. The sale of four remaining franchises, including Manchester Originals, Trent Rockets, Northern Superchargers, and Southern Brave, will take place next week.
The tech investors faced stiff competition from global sports investors, including groups linked to Manchester United and Chelsea football clubs. However, their toughest competitor was Goenka, who was keen to add London Spirit to his existing cricket ventures in the IPL and SA20. The intense online auction lasted nearly four hours before the tech consortium emerged victorious.
Also Check: Ambani family buys 49% stake in London cricket team Oval Invincibles
MCC Welcomes New Partners
Following the announcement, Marylebone Cricket Club (MCC) chair Mark Nicholas welcomed the new investors, stating, “It’s with great pleasure that I announce Cricket Investor Holdings Limited, a consortium led by Nikesh Arora, as our new partner and co-owner of the London Spirit franchise in The Hundred. This historic decision comes at the conclusion of ECB’s sales process, in which MCC has been fully involved.
“All those we spoke to were eager to be a part of what we do, and it’s a huge credit to Lord’s that such remarkable interest was generated. This announcement reaffirms what we as members have always known—our club is special, and people want to be involved with us.”
IPL Owners Eye More Franchises
The auction continues next week, with Manchester Originals expected to be the first franchise up for sale. Goenka remains a strong contender, alongside other IPL owners such as the Ambani family (Mumbai Indians), the Maran family (SunRisers Hyderabad), the GMR Group (Delhi Capitals), and CVC Capital (Gujarat Titans). The Ambanis have already secured the Oval Invincibles, and more IPL investors are set to compete for the remaining franchises.
