A group of Silicone Valley CEOs have reportedly come together to place a bid for ownership of a cricket team in London
A consortium of global tech CEOs of Indian origin is reportedly bidding for a London-based cricket team in a league called ‘The Hundred’ played in England and Wales, according to Bloomberg. The names on the list reportedly include Alphabet CEO Sundar Pichai, Microsoft CEO Satya Nadella and Adobe CEO Shantanu Narayen.
The $97-million offer for one of two teams: the Oval Invincibles or the London Spirit, is spearheaded by Nikesh Arora, CEO of Palo Alto Networks Inc, and Satyan Gajwani, vice-chairman of Times Internet Ltd, the digital arm of the Times of India Group, according to Bloomberg.
In England, The Hundred is marketed as a modernized cricket format aimed at attracting younger fans and families. Launched in 2021, it features matches with 100 balls per side and simplified rules, making the game faster-paced and more accessible. Since its inception, the league has attracted over two million attendees across its eight venues in England and Wales.
To bolster the financial standing of The Hundred, the England and Wales Cricket Board (ECB) opened bidding in September, inviting private investors to acquire stakes in the league’s eight teams. The ECB is offering its 49% stake in each team, with an option for full acquisition.
Alphabet’s Pichai and others, known cricket enthusiasts, aim to cash in on the growing popularity of the game. Pichai congratulated the Indian team on their win over South Africa in 2024 T20 World Cup final, calling it “so well deserved.” The victory was celebrated by millions of cricket fans in India.
Nadella and Narayen in 2022 invested $120 million in setting up a professional T20 cricket league in the US to popularize the game in that country, Times of India reported.
The Indian-origin CEOs are reportedly hoping that they can emulate the success of Indian Premier League (IPL), whose valuation as a business has increased by 6.5% last year to $16.4 billion, in England – where cricket was born. In this regard, London Spirit is especially attractive to investors because of its home ground at Lord’s, often called the “home of cricket.” Combined, the men’s and women’s ‘Hundred’ competitions generate approximately £60 million ($73 million) annually for the ECB through broadcasting, sponsorships, and ticket sales.
