Six of the eight city-based franchises in The Hundred have secured minority or majority investments, with negotiations for the remaining two teams currently in advanced stages.
In a watershed moment for English cricket, the England and Wales Cricket Board (ECB) has finalised long-term strategic partnerships with six global investors across teams in The Hundred, unlocking over £500 million in capital for the game’s future.
This unprecedented funding round places The Hundred at a staggering valuation of £975 million, making it the second most valuable cricket league in the world — trailing only the Indian Premier League (IPL).
The New Investment Landscape
Six of the eight city-based franchises have sold minority or majority stakes to elite investor groups from across the globe:
Discussions remain active for the final two franchises:
Final announcements for these are anticipated by autumn 2025.
The ECB has earmarked the proceeds to drive sustainable growth across the sport. More than £50 million will be allocated specifically for grassroots and community cricket, while the remaining funds will support talent development, facility upgrades, and county club sustainability.
Commenting on the occasion, Richard Thompson, ECB Chair, said, “The Hundred has already played a vital role in growing cricket in England and Wales — attracting new audiences, elevating the women’s game, and delivering high-quality entertainment. The sheer scale of global interest we’ve seen throughout this process highlights just how much potential remains to be unlocked.
“With these new partners on board, we’re entering an exciting new phase and a seminal moment for cricket in England and Wales. Their global perspective and track record in elite sport and business will help us reimagine what’s possible — from deepening fan connections to attracting even more world-class players.
“Crucially, this investment will not only fuel the competition’s growth but also channel transformative levels of funding into our professional counties and grassroots game. This will ensure cricket continues to thrive at all levels across England and Wales for generations to come, supporting our broader ambitions to become the country’s most inclusive sport and driving cricket into harder-to-reach and underserved communities.”
To steward this evolution, the ECB will establish a dedicated governing board for The Hundred. While the ECB will retain ownership and key regulatory authority (e.g., format, scheduling, and rules), the new board — featuring representatives from the ECB, host counties, and investor groups — will oversee:
This hybrid model aims to balance innovation with accountability — and align long-term interests between the ECB and its partners.
The ECB was advised by Deloitte and The Raine Group as co-lead financial advisers, with legal support from Latham & Watkins and Onside Law LLP.
Two remaining investment deals — expected to conclude by Q4 2025 — will round out this inaugural investment phase. From there, the ECB will conduct annual performance reviews, tracking audience growth, grassroots impact, and commercial returns.
With this bold move, The Hundred is no longer just a tournament — it’s a blueprint for cricket’s future.
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