'Seminal moment' - stakes sold in six Hundred teams

The sales of stakes in six of The Hundred teams have been completed, the England and Wales Cricket Board has confirmed.

Investments in Oval Invincibles and Trent Rockets are yet to be completed but "remain on track".

The Sun Group, owner of Indian Premier League (IPL) side Sunrisers Hyderabad, has paid just over £100m for a 100% stake in Northern Superchargers, who are based at Yorkshire's home Headingley.

Indian company RPSG Group, which owns Lucknow Super Giants in the IPL and Durban's Super Giants in the SA20, has purchased 70% of Manchester Originals, while GMR Group, which owns Delhi Capitals, has bought 49% in Southern Brave.

American-based groups Tech Titans (49%), Knighthead Capital Management (49%) and Washington Freedom (50%) have completed purchases in London Spirit, Birmingham Phoenix and Welsh Fire, respectively.

The valuation of the eight teams was £975m, with more than £500m being generated via the sales which will now be shared by the England and Wales Cricket Board (ECB) among its professional counties and at least £50m for grassroots cricket.

Investors will take operational control from 1 October, meaning they will have no direct involvement in this year's competition, which starts on 5 August.

ECB chair Richard Thompson said: "The Hundred has already played a vital role in growing cricket in England and Wales - attracting new audiences, elevating the women's game, and delivering high-quality entertainment. The sheer scale of global interest we've seen throughout this process highlights just how much potential remains to be unlocked.

"With these new partners on board, we're entering an exciting new phase and a seminal moment for cricket in England and Wales. Their global perspective and track record in elite sport and business will help us reimagine what's possible - from deepening fan connections to attracting even more world-class players.

"Crucially, this investment will not only fuel the competition's growth but also channel transformative levels of funding into our professional counties and grassroots game.

"This will ensure cricket continues to thrive at all levels across England and Wales for generations to come, supporting our broader ambitions to become the country's most inclusive sport and driving cricket into harder to reach and under-served communities."

The ECB retains ownership of the competition and control of the regulations and playing window.

A new board will be established, featuring ECB representatives and the teams, and will decide the strategic direction and commercial growth of The Hundred, including sponsorship and licensing deals, player salaries and player draft and retention mechanics.

The 2025 Hundred runs until 31 August with 16 matches live on BBC TV and iPlayer, including both finals.