The Hundred transformed into near billion-pound event

The avalanche of new money generated by the England and Wales Cricket Board’s auction of The Hundred has concluded with a deal for Southern Brave that takes the total value of the eight-team tournament close to Stg 1billion ($A2.0 billion).

GMR, the co-owners of Indian Premier League franchise Delhi Capitals and owners of the Brave’s host county Hampshire, have agreed to pay a reported fee of nearly Stg 50m ($A99 m) for the ECB’s 49 per cent stake of the team.

With the sales process now complete, pending an exclusivity period to finalise the deals, it means the eight city-based teams, who played their first matches in 2021, have been valued at a startling figure in excess of Stg 950m ($A1.9 billion).

Only a matter of weeks ago the ECB was touting its lowest estimate at Stg 350m ($A693 m), meaning expectations have been blown out of the water.

Proceeds from the 49 per cent shares will be used to provide a major cash boost to the recreational game in England and Wales, while the majority will be split between the 18 first-class counties and Marylebone Cricket Club.

MCC are the owners of Lord’s, an attraction so sought after that a Silicon Valley consortium paid an eye-watering Stg 145m ($A287 m) for the minority holding – by a distance the biggest individual deal.

A total of four IPL ownership groups have now claimed a foothold in The Hundred, with GMR’s interest in Delhi and the Brave following on from Reliance (Mumbai Indians and Oval Invincibles), Sun Group (Sunrisers Hyderabad and Northern Superchargers), and RPSG (Lucknow Supergiants and Manchester Originals).

Yorkshire have already agreed to sell on their controlling 51 per cent share in Superchargers to the Sun Group, while RPSG have settled on a 70 per cent slice of the Originals as part of their deal with Lancashire.

There are also other familiar names from the world of sport, with Chelsea co-owner Todd Boehly associated with the deal for Nottinghamshire’s Trent Rockets and Knighthead Capital, which has NFL legend Tom Brady as a marquee investor, adding Birmingham Phoenix to their existing ownership of Birmingham City.