CVC Capital Partners is in talks about the first private equity investment in English cricket by seeking to acquire a stake in one of the Hundred franchises. This move is expected to stir debate among cricket fans and may face opposition from the Surrey club, which holds a 51% stake in the Oval Invincibles.
The England and Wales Cricket Board aims to raise £500 million by selling 49% of eight franchises, with CVC mainly interested in the Oval Invincibles, widely regarded as the most appealing franchise in the auction due to its strong performance in the competition.
CVC's involvement represents a significant shift in the ownership structure of English cricket, indicating increased interest from private equity firms and IPL franchises looking to capitalize on the growing popularity and financial potential of the sport, particularly in London.
Surrey's capacity to maintain a majority stake, coupled with the strong performance of the Invincibles, highlights a complex sales scenario where investment interest may not align with existing ownership dynamics. This situation underscores the increasing competition among franchise owners, particularly from IPL stakeholders.
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