Tech Leaders Secure London Spirit in Record GBP 295 Million Deal

In a groundbreaking move, a consortium of top tech leaders, including Microsoft head Satya Nadella, Google CEO Sundar Pichai, Times Internet VC Satyan Gajwani, and billionaire Nikesh Arora, has successfully acquired a 49% stake in London Spirit for GBP 295 million. This consortium outbid Sanjiv Goenka, owner of the Lucknow Super Giants, in a four-hour-long online auction.

This acquisition is part of the England and Wales Cricket Board’s (ECB) ambitious plan to privatize The Hundred. With the sale of four teams, including Oval Invincibles and Birmingham Phoenix, the ECB has already secured over GBP 300 million, surpassing its initial GBP 350 million target. Washington Freedom, a Major League Cricket (MLC) team, also acquired Welsh Fire for GBP 65 million.

The Marylebone Cricket Club (MCC), which retains a 51% stake in London Spirit, welcomed the partnership. MCC Chair Mark Nicholas expressed excitement over the deal, emphasizing the prestige and appeal of Lord’s Cricket Ground.

The remaining four franchises—Manchester Originals, Trent Rockets, Northern Superchargers, and Southern Braves—are set to be auctioned next week. The Manchester franchise is expected to be the first on sale, with Goenka being a strong contender. Other IPL franchise owners, including the Ambanis (Mumbai Indians), the Marans (SunRisers Hyderabad), and the GMR Group (Delhi Capitals), are also in the race, alongside CVC Capital, the owners of Gujarat Titans.

This investment signals a significant shift, as global tech and business moguls continue to expand their influence in cricket’s franchise ecosystem, reshaping the sport’s commercial landscape.