Chelsea Co-Owner Boehly Invests in English Cricket Team
Todd Boehly, co-owner of Chelsea Football Club, is reportedly acquiring a 49% stake in Trent Rockets, a franchise in The Hundred cricket tournament.
The deal, worth £40 million ($50 million), is part of a wider investment spree in The Hundred, with other investors including those from India, Silicon Valley, and New York. The England and Wales Cricket Board (ECB) is set to receive over £500 million ($620 million) from the franchise auctions.
Boehly, who also has a stake in the Los Angeles Dodgers baseball team, joined Chelsea's ownership group in May 2022. The Hundred, launched in 2021, is a shorter format of cricket with teams facing 100 balls per inning, similar to the Twenty20 format popularized by the Indian Premier League.
The ECB has granted exclusivity to Cain International, a company co-founded by Boehly, to finalize the acquisition of Trent Rockets. Reports indicate that Boehly and Behdad Eghbali, co-founder of Clearlake Capital, have been involved in a power struggle at Chelsea, with both factions reportedly seeking to buy out the other.