CSK and KKR Likely to Withdraw from The Hundred Acquisition

Interest from Indian Premier League (IPL) owners in The Hundred, England and Wales Cricket Board's (ECB) eight-team competition, is reportedly waning. Chennai Super Kings (CSK) and Kolkata Knight Riders (KKR) have decided not to actively pursue acquiring English teams.

The primary concern for IPL franchises is the media rights projection shared by the ECB. The predicted broadcast revenue of GBP 34 million a year for the 2029-32 cycle is considered unrealistic and overly optimistic.

Of the 10 IPL franchises, three never showed interest, and with two more unlikely to participate, half of the IPL teams may not be involved in The Hundred. This may not be a major setback for the ECB, but fewer bidders could impact the selling price. The ECB intends to raise about a billion pounds from the sale.

The ECB is using a phased approach for the sale, shortlisting three to four investors for each team and then accepting sealed cover bids. The plan is to sell one team at a time, with exclusive negotiations before the deal is concluded. Deals are expected to be finalized between March and May 2023.

The 2025 season of The Hundred is anticipated to have new owners for the teams currently owned and run by eight counties. Mukesh Ambani's Reliance Industries, owners of Mumbai Indians, are linked to one of the two London sides, likely London Spirit. Sanjiv Goenka, owner of Lucknow SuperGiants, is also pursuing a London team. However, the ECB may not be keen to sell the two London sides to IPL owners.

The ECB will sell 49% of a team to buyers, while the respective county, with the remaining 51% stake, can choose to part with any stake. The Oval Invincibles and another county are reportedly not ready to surrender their controlling stake.

Rajasthan Royals, SunRisers Hyderabad, and Delhi Capitals remain in the race. The ECB aims to complete the sale by March-May 2023, with the 2025 season dates yet to be announced.