Chelsea co-owner Todd Boehly has paid almost £40m for a 49 per cent stake in Hundred franchise Trent Rockets.
Rockets are the seventh team in the England and Wales Cricket Board’s 100-ball competition to be sold, with only Southern Brave left to be purchased.
Nottinghamshire will retain their 51 per cent share of the Rockets, with Boehly’s company Cain International acquiring the slightly smaller stake from the ECB.
The sale of Rockets takes the value of The Hundred teams to in excess of £800m.
A US-based technology consortium spent big on the Lord’s-based London Spirit, paying £145m for 49 per cent, meaning the franchise was valued at just shy of £300m overall.
Boelhy had been interested in buying Spirit and fellow London side Oval Invincibles but was outbid.
Yorkshire’s entire stake in the Northern Superchargers was bought by Sun Group – who own IPL outfit Sunrisers Hyderabad and SA20 team Sunrisers Eastern Cape – for circa £100m.
Proceeds from the 49 per cent of teams sold by the ECB will be divided between the 18 first-class counties and the MCC, while if a host county sells all or part of their 51 per cent, 10 per cent of that money will also go to the counties and MCC.
More to follow…
