A consortium led by tech executive Nikesh Arora has acquired a 49% stake in London Spirit for £145 million, valuing the franchise at approximately £300 million. This deal highlights the strong market appeal of Spirit due to its association with the renowned Lord's cricket ground. Meanwhile, the Major League Cricket franchise Washington Freedom has also secured a stake in Welsh Fire for around £80 million. These transactions reflect a broader trend in the sports industry, where high-profile investors are increasingly drawn to cricket franchises, signaling lucrative opportunities in this arena.
The consortium, led by Nikesh Arora, secured a 49% stake in London Spirit for £145m, valuing the franchise at around £300m, underscoring its prestige.
The winning bidders for Spirit faced stiff competition from notable figures, including the Glazers and Todd Boehly, highlighting the franchise's significant market appeal.
The England and Wales Cricket Board valued all eight Hundred teams at a minimum of £350m, suggesting a lucrative landscape for franchise investments.
The ongoing trend of consortium investments in cricket leagues reflects the growing interest among tech entrepreneurs and the potential for high returns in cricket.
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