England and Wales Cricket Board chair Richard Thompson has welcomed “an exciting new phase” for cricket after confirming completion of the sale of six stakes in The Hundred franchises.
The six deals formally finalised ahead of next week’s fifth season include London Spirit, Birmingham Phoenix, Manchester Originals, Northern Superchargers, Southern Brave and Welsh Fire.
Despite ongoing haggling, the ECB insisted that the sale of stakes in Oval Invincibles and Trent Rockets remained on track to formally be completed at a later date.
“With these new partners on board, we’re entering an exciting new phase and a seminal moment for cricket in England and Wales,” said Thompson.
“Their global perspective and track record in elite sport and business will help us reimagine what’s possible — from deepening fan connections to attracting even more world-class players.
“Crucially, this investment will not only fuel the competition’s growth but also channel transformative levels of funding into our professional counties and grassroots game.
“This will ensure cricket continues to thrive at all levels across England and Wales for generations to come, supporting our broader ambitions to become the country’s most inclusive sport and driving cricket into harder to reach and under-served communities.”
The Hundred starts on 5 August
The ECB announcement comes less than a week before the start of the 2025 competition, which begins with London Spirit facing Oval Invincibles at Lord’s on 5 August.
The confirmation follows reports last week that unresolved issues including the future name of the franchise have delayed completion of the sale of Oval Invincibles – and the flow of funds to hard-up counties.
The deals have valued the eight Hundred franchises at more than £975m, with the sales set to provide the ECB with a £520m windfall expected to be invested in cricket at all levels across England and Wales.