Sun Group buys entire stake in Yorkshire-based Northern Superchargers – India TV

The Sun Group, owners of Sunrisers Hyderabad, won the bid to buy the entire stake of the Northern Superchargers in The Hundred. As per reports, the Chennai-based media conglomerate has paid just over £100m in the virtual auction for a 100% stake in the franchise. There were two other parties interested in the deal, but the Sun Group eventually outbid them. 

They also became the third Indian Premier League (IPL) franchise to own a franchise in the hundred-ball tournament. Previously, Mumbai Indians owners, the Ambani family, negotiated a £60m price for a 49% stake in the Oval Invincibles and Lucknow Super Giants owner Sanjiv Goenka agreed to around £81m  deal for 70% of Manchester Originals.

Apart from that, IT entrepreneur Sanjay Govil bought 49% stage of Welsh Fire for £40m and Birmingham Phoenix sold the same stage to the owners of Birmingham City football club, Knighthead Capitals for £40m.

A big money deal also happened between Lord’s-based London Spirit and a Silicon Valley consortium led by Nikesh Arora. It is believed that the IT consortium bought a 49% share of the franchise for a mammoth £40m – over £100m more than the price of Welsh Fire and Birmingham Phoenix. The iconic Lords helped the franchise and the England and Wales Cricket Board (ECB) to sell it at a premium rate.

The two other franchises, Southern Brave and Trent Rockets are also expected to be sold sooner rather than later. As per BBC, Nottinghamshire are also set to sell a 49% stake in the Rockets when the sales resume before the weekend. An unnamed IPL franchise is set to be interested in the deal.

Delhi Capitals, on the other hand, are very likely to own Southern Brave. The county club, Hampshire is on the verge of a takeover, as DC are set to invest heavily and own the majority of the stakes. Since Brave are part of Hampshire, it is expected for the IPL franchise to close out the deal soon.