The Sun Group, the owners of the Sunrisers Hyderabad (SRH), have secured 100% stake in the Northern Superchargers. The England and Wales Cricket Board (ECB) started the sale of The Hundred franchises on January 30, and SRH has become the third Indian Premier League (IPL) franchise to procure a team in the English league.
The Mumbai Indians (MI) bagged the Oval Invincibles on January 30, and the Lucknow Super Giants (LSG) followed their suit by managing to get hold of the Manchester Originals three days later (February 2).
SRH buys 100% stake in Northern Superchargers
According to ESPNcricinfo, the Northern Superchargers have been valued at £100 million (Rs 1092 crore) at the time of purchase. The Sun Group was in a three-way battle with two other parties to bag the Hundred team and came out on top eventually.
Each of the eight teams would be co-owned by their respective counties and new owners. 51% of the share will remain with the counties, but they can sell a further share or even give complete control to the new owners. However, unlike the other five teams, the Yorkshire County Cricket Club has decided to sell their entire stake to the Sun Group (owners of SRH). They will still sit together and finalise the deal in the next eight weeks, which is the period of exclusivity.
SRH has also become the first team to acquire a 100% stake in a Hundred franchise (Northern Superchargers). MI (Rs 1327 crore) and LSG (Rs 1251 crore) paid more for their respective purchases but for the bare minimum stake of 49%. In this regard, SRH has leapfrogged them.
Delhi Capitals to go the SRH way
There is another IPL franchise in the race. The GMR Group, the co-owners of the Delhi Capitals, are expected to acquire the Southern Brave. The GMR Group had bought the Hampshire County Cricket Club last year, the county that owns the Hundred team. Considering they had acquired the county, it wouldn’t be a shock if DC, like SRH, end up with a 100% stake in the Southern Brave.
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