India’s Sun Group has become the first organization to buy 100% of a team from English cricket’s short-format Hundred competition, taking a full stake – for just over £100 million ($124.2 million) – in the Northern Superchargers franchise.
Sun Group has bought the 49% on offer from the England and Wales Cricket Board (ECB), as well as the 51% that had initially been gifted by the ECB to Yorkshire (at whose Headingley ground the Superchargers play their home games). Sun Group owns the Sunrisers Hyderabad, from the heavyweight Indian Premier League Twenty20 competition.
Go deeper with GlobalData
This makes the Superchargers the first of the eight teams in the Hundred franchise auction process – which got underway late last week and runs through to Friday – to be entirely sold to an outside entity.
Aside from the Hyderabad team, Sun Group – owned by Indian media mogul Kalanithi Maran – also owns the Sunrisers Eastern Cape franchise from the South African SA20 tournament.
In total, the Superchargers become the sixth Hundred side to secure outside investment through the auction, with stakes having already been sold in both teams from London, as well as those from Birmingham, Manchester, and Cardiff.
Neither the Superchargers men’s or women’s sides have ever won the Hundred.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSanjay Patel – Yorkshire’s chief executive and former managing director of the Hundred), has said: “We are delighted to be entering into an exclusivity period with the Sun Group, and will be continuing our conversations with them in the coming weeks with a view to setting the Northern Superchargers up for long-term and sustained success.
“Having been in consultation with them for some time now, it is clear that they are aligned to the values and future direction of the club and will play a huge part in ensuring we can go on to achieve great success in the coming years.”
The Manchester Originals became the first Hundred franchise in which an outside entity took a stake of more than 49% when Lancashire sold part of their holding to the owners.
So far, the auction process has brought in around £466 million in revenue, with the majority of that to be split between English cricket’s professional first-class counties and the grassroots game.
In November, Richard Thompson, the ECB’s chair, said the internal ECB valuation of £350 million (for 49% stakes in all eight teams) would be met and exceeded.
Overall, the sales process has run since September.
The first team to have a stake sold was the Oval Invincibles from south London, late last week, with 49% bought by India’s Ambani family, which owns the Mumbai Indians team from the IPL.
The Ambani’s (and their Reliance Industries conglomerate) reportedly came out on top against CVC Capital Partners in a bidding process for the Invincibles stake.
Three IPL franchise owners have thus bought Hundred team stakes so far.
