The Sun Group, the owners of the Sunrisers Hyderabad (SRH), have secured 100% stake in the Northern Superchargers. The England and Wales Cricket Board (ECB) started the sale of The Hundred franchises on January 30, and SRH has become the third Indian Premier League (IPL) franchise to procure a team in the English league.
The Mumbai Indians (MI) bagged the Oval Invincibles on January 30, and the Lucknow Super Giants (LSG) followed their suit by managing to get hold of the Manchester Originals three days later (February 2).
SRH 100% stake in Northern Superchargers
According to ESPNcricinfo, the Northern Superchargers have been valued at £100 million (Rs 1092 crore) at the time of purchase. The Sun Group were in a three-way battle with two other parties to bag the Hundred team and came out on top eventually.
Each of the eight teams would be co-owned by their respective counties and new owners. 51% of the share will remain with the counties, but they can sell a further share or even give complete control to the new owners. However, unlike the other five teams, the Yorkshire County Cricket Club has decided to sell their entire stake to the Sun Group (owners of SRH). They will still sit together and finalise the deal in the next eight weeks, which is the period of exclusivity.
SRH have also become the first team to acquire 100% stake in an Hundred franchise (Northern Superchargers). MI (Rs 1327 crore) and LSG ((Rs 1251 crore) paid more for their respective purchases but for the bare minimum stake of 49%. In this regard, SRH have leap-frogged them.
Kavya Maran’s SRH buys 100% stake in Northern Superchargers for Rs 1092 crore Inside Sport India.
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