English cricket has secured a multi-million-pound financial boost after a Silicon Valley tech consortium won a bidding war against Sanjiv Goenka-owned RPSG Group for a 49% stake in London Spirit, the Hundred franchise based at Lord’s.
The winning bid, led by Nikesh Arora of Palo Alto Networks, values London Spirit at a staggering £295 million, more than twice the price paid by Reliance Industries Limited (RIL) for Oval Invincibles just days earlier. The consortium will pay £144.55 million for its stake, while Marylebone Cricket Club (MCC) will retain a 51% majority shareholding.
This deal represents a significant cash injection for English cricket, ensuring financial stability for the next two decades, with funds distributed among the 18 first-class counties, MCC, and the grassroots game.
Silicon Valley’s Big Move into Cricket
The tech-driven consortium, Cricket Investor Holdings Limited, comprises some of the biggest names in global technology, including:
- Sundar Pichai (CEO, Google)
- Satya Nadella (CEO, Microsoft)
- Shantanu Narayen (CEO, Adobe)
- Egon Durban (Co-CEO, Silver Lake Management)
- Nikesh Arora (CEO, Palo Alto Networks)
- Satyan Gajwani (Co-founder, Major League Cricket & Vice Chairman, Times Internet)
The final bidding battle lasted over three hours, with the RPSG Group withdrawing at £292 million. Goenka’s company, which owns Lucknow Super Giants in the IPL, was seen as the frontrunner but ultimately lost out to the deep-pocketed tech consortium.
The Lord’s Factor: Why London Spirit’s Value Soared
The record-breaking price is attributed to what one insider called “the Lord’s factor”—the prestige and historical significance of owning a team based at the home of cricket.
MCC chairman Mark Nicholas confirmed the overwhelming investor interest, stating:
“We are delighted to have found partners who share our values and understand the power and mystique of Lord’s. We look forward to building on the happy relationship we have already established over the past few weeks.”
Nicholas also emphasized that MCC members should take pride in the club’s appeal, writing:
“Today’s announcement shows what we as Members have always known: our Club is special. It’s why people want to be involved with us. I hope that all Members are as proud as I am and excited at the opportunities that lie ahead.”
The deal underlines how The Hundred’s franchises are now among the most valuable properties in cricket, making England’s short-format league a major commercial entity.
The Bidding War: RPSG and Other Contenders Fall Short
The battle for London Spirit was one of the most intense bidding wars in recent cricket history. Other contenders included:
- Avram Glazer (Co-owner, Manchester United)
- Cain International (Run by Chelsea director Jonathan Goldstein)
Both Glazer and Cain International dropped out early, leaving a head-to-head contest between the Silicon Valley consortium and RPSG Group. The auction went longer than expected, even causing a delay in the bidding process for Welsh Fire, which was eventually sold to the owner of Washington Freedom in Major League Cricket.
What This Means for English Cricket
The £295 million valuation of London Spirit sets a new benchmark for franchise cricket in England and reflects the growing commercial appeal of The Hundred. The funds raised will be split across:
- The 18 first-class counties (providing long-term financial security).
- MCC (maintaining its control over London Spirit).
- Recreational cricket (ensuring grassroots investment and sustainability).
This structure ensures that county cricket remains financially stable, securing at least 20 years of funding for the domestic game.
Impact on RPSG Group’s Cricket Ambitions
Having missed out on London Spirit, RPSG Group is now expected to shift its focus to Manchester Originals. The company has been in talks with Lancashire Cricket Club for several months and is now considered a leading contender to acquire a stake in the Originals.
Reliance Industries Limited (RIL), which also explored the Manchester Originals deal, is no longer in contention after securing a stake in Oval Invincibles.
London Spirit: Defending Women’s Champions, Struggling Men’s Side
From a cricketing perspective, London Spirit’s value is boosted by the success of its women’s team, which won the inaugural Women’s Hundred title in 2024 under the captaincy of England’s Heather Knight.
- India’s Deepti Sharma played a key role in the final, hitting the winning runs.
- The women’s team will now benefit from enhanced investment, ensuring further growth.
In contrast, the men’s team has struggled, winning only three matches across the last two seasons and finishing bottom in 2024. The new investors will be keen to revamp the men’s squad to improve performances.
What’s Next? The Eight-Week Negotiation Period
The Silicon Valley consortium now enters an exclusive eight-week negotiation window with MCC to finalize the agreement.
- The ECB (England and Wales Cricket Board) has set strict timelines, ensuring all franchise deals are completed quickly.
- MCC will retain its 51% majority stake, ensuring it still holds controlling power over London Spirit.
- The deal will officially make London Spirit one of the most valuable cricket franchises in the world.
Conclusion: A Landmark Deal for English Cricket
The sale of a 49% stake in London Spirit for £144.55 million represents a transformational moment for English cricket.
- The Hundred has become a commercial powerhouse, attracting tech billionaires and global investors.
- The MCC remains in control, while securing a long-term financial future for county cricket.
- Silicon Valley’s entry into cricket could signal further investment in franchise-based leagues worldwide.
With the deal set to be finalized in the coming weeks, the future of English cricket looks brighter than ever, powered by the deep pockets of Silicon Valley’s tech elite.
