Chelsea co-owner Todd Boehly has agreed to purchase a 49 per cent stake in Hundred franchise Trent Rockets, changing into the most recent overseas investor within the 100-ball-a-side cricket competitors.
Boehly’s Cain Worldwide group agreed to pay almost £40 million ($50 million) for his or her stake because the Rockets, who’re primarily based at Nottinghamshire’s Trent Bridge floor, grew to become the seventh of the eight groups to go to public sale.
The county will retain management of the opposite 51 per cent.
Boehly had proven early curiosity in Lord’s outfit London Spirit, which finally drew a startling general valuation of greater than £290 million. A 49 per cent share was offered to a Silicon Valley consortium.
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The American billionaire, who led a consortium that purchased Premier League membership Chelsea for £4.25 billion in Might 2022, can also be a minority proprietor of the Los Angeles Dodgers baseball group and has different sporting investments.
The operating tally of valuations for the seven Hundred groups during which stakes have been offered to date is round £850 million, with Southern Courageous set to comply with shut behind.
GMR Group, co-owners of Indian Premier League group Delhi Capitals, which lately purchased a majority stake in Courageous’s host county Hampshire, are closely favoured to tie up that deal.
A interval of exclusivity between the counties and their potential buyers will now ensue as particulars of every deal are finalised.
The Hundred has proved controversial, with many English and Welsh county followers indignant on the means the event deprives their golf equipment of key gamers on the top of the season.
However cricket chiefs say funds raised from the sale of stakes within the eight franchises will help the 18 conventional counties.