CVC Capital Partners and top investors join bidding for English Cricket’s Premier Short-Format League

Among the top contenders are CVC Capital Partners, a private equity firm with a strong track record in sports investments, and a consortium led by Nikesh Arora, CEO of Palo Alto Networks. Interest has also come from IPL franchise owners, the Ambani family, the Glazer family, and Todd Boehly’s investment group.

The ECB appointed Deloitte and The Raine Group to source private investment for the league, aiming to secure long-term financial stability. The sale, targeting a minimum of £350m ($434m), will distribute proceeds among county cricket, the women’s game, and grassroots development. London Spirit is reportedly valued at $150m, while the Oval Invincibles, one of the most successful teams, is the most sought-after asset.

Despite the ECB’s claims of profitability, reports indicate The Hundred has lost over $11m in its first two years, excluding a $30.8m subsidy paid to counties and the MCC. The ECB projects domestic TV rights to exceed $105m annually from 2029, with Indian TV rights increasing by $15m from 2030. However, IPL founder Lalit Modi has questioned these figures, arguing that The Hundred lacks the commercial appeal of major global leagues.

This partial sale continues the trend of private equity investment in sports. CVC Capital Partners has been active in rugby, La Liga, and Formula 1, while other firms increasingly target league assets and media rights. With bidding set to conclude, private equity firms are poised to reshape English cricket’s financial structure. Whether their involvement strengthens the game or deepens financial disparities remains to be seen.

Source: Forbes

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