England and Wales Cricket Board is likely to sell stakes in the eight Hundred teams this September, and indications are that IPL franchise owners could be allowed re-name the teams if they buy even a minority stake.
The ECB is looking to attract Indian investment, and a minority stake itself could provide substantial influence to new investors, according to The Guardian. According to this plan, all ten IPL franchise owners are likely to bid for stakes in the eight teams.
"All the IPL owners are saying they will bid, but they will want some control for their cash. 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," says someone familiar with the sale process.
The Ambani family, who in their private capacity own the Mumbai Indians IPL franchise and its sister teams—MI New York, MI Emirates, and MI Cape Town—is now believed to be on the verge of making a mega offer to buy the London Spirit team, which they might possibly rebrand as MI London.
London Spirit is expected to be the hottest property at the Hundred auction, with its bidding likely to add up to bids of other franchises combined. It is expected that London Spirit could account for a quarter of the sales revenue for The Hundred.
In recent months, it has been in discussions with a host of potential investors, ranging from Hollywood star Ryan Reynolds to Manchester United owner Avram Glazer, both of whom made contact to express interest in buying stakes in Hundred teams.
In addition, Birmingham City's American owners, Knighthead Capital, featuring NFL icon Tom Brady among its investors, have reportedly shown an interest in purchasing a stake in Birmingham Phoenix and have watched several Hundred games.
The ECB has secured the go-ahead from the counties to launch the formal sale process next month, which will be headed up by the American bank Raine Group after it handled big-ticket sales such as that of Manchester United and Chelsea in recent months.
These revelations arrive the same time as the Rajasthan Royals, the victors of the 2008 IPL, prepare to purchase the Northern Superchargers in the acquisition of Yorkshire, with the Delhi Capitals, on the other hand, mulling over claiming part ownership in the Southern Brave after a £120 million deal has been reached to acquire Hampshire.
