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The Guardian - UK

Sport

Exclusive by Matt Hughes and Ali Martin

IPL billionaires and Birmingham City owners win auction for Hundred teams

Oval Invincibles Hundred Invincibles Ambanis ECB Mumbai Indians MI India Reliance Cricket

Brothers Tom Curran and Sam Curran celebrate Oval Invincibles winning the Hundred final at Lord’s last year. — Brothers Tom Curran and Sam Curran celebrate Oval Invincibles winning the Hundred final at Lord’s last year. Photograph: Alex Davidson/ECB/Getty Images

English cricket’s landmark Hundred sale produced an eventful first day as the Ambanis, India’s richest family, and Knighthead Capital, owners of Birmingham City, secured the right to buy 49% stakes in Oval Invincibles and Birmingham Phoenix respectively.

The Guardian has learned that Knighthead’s offer of about £40m for 49% of the Phoenix prevailed in a sealed-bids auction over that of private equity firm CVC Capital Partners. CVC had earlier lost out to Reliance Industries Ltd, owners of Mumbai Indians, in a three-way auction for the equivalent stake in Oval Invincibles.

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