- A tech consortium led by CEOs from Microsoft, Google, and Adobe secures a 49% stake in the London Spirit franchise.
- The London Spirit franchise is valued at £295 million after an intense bidding war.
- The Marylebone Cricket Club retains majority control of the London Spirit franchise.
A powerful consortium of Silicon Valley tech executives, including Satya Nadella, Sundar Pichai, and Shantanu Narayen, has made a landmark investment in the London Spirit, a team in The Hundred.
Despite the sizeable investment, the Marylebone Cricket Club, which owns Lord’s, will maintain a majority stake in the London Spirit. The sale followed an intense bidding war involving major figures like the Glazers family and Todd Boehly, underscoring the growing financial significance of cricket franchises.
Tech Giants Join Forces to Own London Spirit, Signaling Shift in Cricket Investments
The London Spirit, a team in England’s The Hundred, has been acquired by a powerful consortium led by Silicon Valley tech billionaires, including CEOs of Microsoft, Google, and Adobe. This consortium secured a 49% stake in the franchise for £145 million, resulting in an overall valuation of £295 million for the team. The deal marks one of the largest investments in the sport and signals growing interest from the tech sector in cricket.
The bidding process was highly competitive, with several high-profile investors, including the Glazers family and Todd Boehly, vying for control of the franchise. The final bid of £145 million for 49% was substantially higher than the valuation of other teams, like the Oval Invincibles, reflecting the increasing financial allure of The Hundred.
The deal also underscores the dominance of the Marylebone Cricket Club in the ownership structure of the London Spirit. Despite the tech consortium’s hefty investment, MCC retains a majority stake in the team, ensuring its long-standing connection to Lord’s Cricket Ground remains intact.
The partnership between global tech leaders and cricket represents a new era in the sport’s commercialization. As more tech-driven innovations enter the cricket world, fans can expect to see a surge in both global engagement and financial backing, further elevating the stature of leagues like The Hundred.
This acquisition by the Silicon Valley tech consortium highlights the shifting landscape of sports investments, particularly cricket, as it attracts major players from outside the traditional realm.
“Increasingly, tech billionaires are recognizing cricket’s global potential, and their investment in The Hundred’s London Spirit reflects the growing convergence of sport and technology.”
