The Hundred: Google CEO Sundar Pichai bids for London-based Cricket team, details here

Google CEO Sundar Pichai

Sundar Pichai, CEO of Google has joined a consortium of Silicon Valley executives bidding for a London-based cricket team in the The Hundred (a short-format league in England and Wales), as per Bloomberg. The consortium is proposing an offer exceeding £80 million ($97 million) for one of two teams: the Oval Invincibles or the London Spirit, as per the report.

Nikesh Arora, CEO of Palo Alto Networks Inc., and Indian media mogul Satyan Gajwani, vice-chairman of Times Internet Ltd., are the people spearheading the bid. The consortium includes high-profile names like Egon Durban, co-CEO of private equity firm Silver Lake Management, Adobe CEO Shantanu Narayen and Microsoft CEO Satya Nadella.

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Sundar Pichai is a cricket enthusiast and he has now joined the list of Indian tech executives investing in sports.

Details about 'The Hundred'

The Hundred, introduced in England in 2021, is a modern cricket format aimed at engaging younger audiences and families. Each match consists of 100 balls per side and features streamlined rules, offering a faster and more accessible experience. Since its launch, the league has welcomed over 2 million fans to its eight venues across England and Wales.

To bolster the league's financial standing, the England and Wales Cricket Board (ECB) initiated a bidding process in September, inviting private investors to purchase stakes in the eight teams competing in The Hundred. Overseen by the investment bank Raine Group, the auction has garnered international attention, with notable interest in the London Spirit and Oval Invincibles. The ECB is offering a 49% stake in each team, with the possibility of full ownership.

London Spirit holds particular appeal for investors, thanks to its home ground at Lord's, widely regarded as the "home of cricket." Combined, the men's and women's Hundred competitions generate approximately £60 million annually for the ECB through broadcasting, sponsorship deals, and ticket sales.