IPL franchises Chennai Super Kings and Kolkata Knight Riders have reportedly lost interest in acquiring franchises in the England and Wales Cricket Board (ECB)’s premier 100-ball franchise competition, The Hundred.
According to Cricbuzz, the two franchises are not convinced by the competition’s business model. Although they were quite interested initially, they have been pushed back by the ECB’s revenue projections of £34 million a year from the overseas media market in the next broadcast cycle of 2029-32, about 16 times the current value.
The report said KKR and CSK deem it unrealistic and unfeasible. While KKR will still passively participate in the process, CSK is likely to pull out of the race.
They now join Royal Challengers Bengaluru, Punjab Kings and Gujarat Titans, who were never interested in the bidding. Mumbai Indians, Lucknow Super Giants, Delhi Capitals, SunRisers Hyderabad and Rajasthan Royals are in the fray.
The Hundred’s eight franchises are currently owned by counties in England. The ECB is likely to offer 49% stakes in each and do it one by one to maintain the interest of buyers. After an agreement is reached, the counties are free to release a bit of their stake and thus, the control of the franchise.
