Mumbai Indians, Kolkata Knight Riders Among Five IPL Franchises Bidding For Teams In The Hundred: Report

Mumbai Indians, Kolkata Knight Riders, Rajasthan Royals, Sunrisers Hyderabad and Lucknow Super Giants are among the IPL franchises who have submitted the bids

Mumbai Indians, Kolkata Knight Riders, Rajasthan Royals, Sunrisers Hyderabad and Lucknow Super Giants are among the IPL franchises who have submitted bids to acquire teams in the English Cricket Board-run The Hundred, according to a report. The GMR Group, recently named the new owner of Hampshire, and Avram Glazer, co-owner of Manchester United Football Club, also submitted bids before the ECB's October 18 deadline for potential investors, reported ESPNCricinfo. The ECB has invited bids for a 49 per cent stake in each of the eight franchises, with the board retaining majority control.

"Expressions of interest could be for all eight teams, which would be culled to four in the next step which will start in November when the investors get to meet the host counties of each Hundred franchise," stated the report.

"Following that, investors would need to prune their wishlist to four teams, as part of the second stage, which will then come down to two teams of which they would need to make their final choice." The ECB is aiming to finalise investors by early 2025 but is committed to a deliberate approach to avoid "underselling what it believes is a valuable product".

ECB chairman Richard Thompson has also mentioned the possibility of a "hybrid" ownership model, where some teams remain under ECB control while others are sold to private investors.

The report further says while several IPL franchises showed early interest, not all followed through with bids.