Southern Brave Acquisition by GMR Raises Hundred Valuation to £960m
In a groundbreaking transaction, GMR, the owner of Indian Premier League (IPL) franchise Delhi Capitals, has acquired a 49% stake in Southern Brave for approximately £50 million. This sale concludes The Hundred auction and propels the total valuation of the eight franchises to over £960 million.
GMR's strategic move follows its acquisition of Hampshire County Cricket Club last year, making Hampshire the first first-class county under foreign ownership. GMR's bid of £98 million surpassed other interested parties and secured the franchise.
The acquisition aligns with the ECB's objective to avoid an "IPL takeover" of the tournament. Notably, other IPL franchises have invested in Hundred teams: Sunrisers Hyderabad (Northern Superchargers) and Lucknow Super Giants (Manchester Originals).
Indian-American groups have also made significant investments: Sanjay Govil (Welsh Fire) and a Silicon Valley tech consortium (London Spirit). Additionally, American investors, including Knighthead Capital (Birmingham Phoenix) and Todd Boehly's Cain International (Trent Rockets), have expanded their football ownership into cricket.
This transaction raises approximately £500 million for the game and underscores the growing global appeal of cricket. The Hundred's popularity continues to surge, attracting both domestic and international investment.