English Cricket’s Selloff Gamble Values Teams at Over $1 Billion
- The Hundred wins backing from range of tech CEOs, investors
- India’s billionaire Ambani family has also backed a team
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An auction has valued eight English cricket teams at nearly £1 billion ($1.3 billion), a coup for the country’s newest competition that only launched four years ago.
A sales process for The Hundred, a shorter format of the game aimed at a younger audience, valued the franchises at £975 million, the England and Wales Cricket Board said Thursday. About £520 million raised will be reinvested into the sport.