The Hundred: 5 IPL teams place initial bids
Mumbai Indians, Kolkata Knight Riders, Rajasthan Royals, Sunrisers Hyderabad and Lucknow Super Giants are among the IPL franchises that have submitted bids to buy teams in the England Cricket Board's (ECB) The Hundred tournament. However, Punjab Kings, Chennai Super Kings and Gujarat Titans owner CVC Capitals, who had shown interest earlier, have not placed bids. These teams are not willing to become 'passive investors' as the ECB is selling only 49% stake in the teams. According to sources, the ECB had given investors time till October 18 to express interest in buying stakes in the teams, in which GMR Group and Manchester United Football Club owner Avram Glazer have also shown interest. However, Jim Ratcliffe, a 27% stakeholder in the United Club, has stayed away from bidding. Recently, IPL founder Lalit Modi criticized the investment in The Hundred, calling it an almost loss-making deal, but the ECB is determined to raise a high price, expressing confidence in its tournament. According to the board, more than 100 potential investors from India as well as America have shown interest in it.