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The recent purchase of a 49% stake in the London Spirit franchise by a high-profile group led by Nikesh Arora has generated a lot of interest in The Hundred's potential to become a major global cricket tournament. The staggering £147 million investment underscores the growing global appeal of the sport and the potential seen in The Hundred, English cricket's newest format.
Arora, the CEO of Palo Alto Networks and former Google executive, expressed his elation at securing this "one-of-a-kind asset." His personal connection to Lord's, having watched Ashes and England-India matches there for over a decade, fueled his desire to be part of this historic partnership. "You look back in life and say you could have been a partner with Lord’s and you didn’t? No," Arora stated, emphasizing the unique opportunity presented.
The consortium boasts a roster of prominent figures from the tech world, including Sundar Pichai, CEO of Google, and Satya Nadella, CEO of Microsoft, both passionate cricket enthusiasts. Nadella's involvement extends to his own cricket ground at Microsoft's Redmond campus and a share in the Seattle Orcas of Major League Cricket (MLC). Satyan Gajwani, who runs Willow TV, America's leading cricket streaming platform, and Shantanu Narayan, head of Adobe, are also part of the group, along with Egon Durban of Silver Lake, a seasoned investor in sports and media.
The involvement of these influential figures highlights the growing interest in cricket within the tech community, particularly among those with roots in India. Arora revealed that the Lord's bid materialized over the past three months, with the consortium members actively engaged in the process. Their shared passion for the sport, often demonstrated by early morning IPL viewing sessions, solidified their commitment to the venture.
While acknowledging the significant investment, Arora expressed confidence in the future of The Hundred, suggesting it could become the second most valuable cricket franchise globally, trailing only the IPL. He sees the potential for significant returns, driven by the increasing value of sports franchises and the unique appeal of live sports in the evolving streaming landscape. "Well-run sports franchises increase in value over time, and disproportionately to expectations," Arora explained.
The consortium is committed to collaboration with the ECB, the counties, and other partners to maximize the potential of the London Spirit. Arora emphasized their intention to work closely with Lord's, reassuring MCC members that their involvement pertains specifically to The Hundred franchise and will not interfere with the traditional aspects of Lord's or Test cricket. He highlighted the warm welcome received from MCC Chairman Mark Nicholas and President Lord Mervyn King, signaling a strong partnership moving forward.
With other Hundred franchises also attracting high-profile owners like the Ambanis and Tom Brady, the league is poised for significant growth. Arora anticipates further investment from IPL teams and a collective effort to enhance the fan experience and elevate the quality of the competition. He concluded, "We’re very excited about this. We think we can collectively make something amazing. Sport has this quality of bringing people together, so we look forward to making this work.”
Arora, the CEO of Palo Alto Networks and former Google executive, expressed his elation at securing this "one-of-a-kind asset." His personal connection to Lord's, having watched Ashes and England-India matches there for over a decade, fueled his desire to be part of this historic partnership. "You look back in life and say you could have been a partner with Lord’s and you didn’t? No," Arora stated, emphasizing the unique opportunity presented.
The consortium boasts a roster of prominent figures from the tech world, including Sundar Pichai, CEO of Google, and Satya Nadella, CEO of Microsoft, both passionate cricket enthusiasts. Nadella's involvement extends to his own cricket ground at Microsoft's Redmond campus and a share in the Seattle Orcas of Major League Cricket (MLC). Satyan Gajwani, who runs Willow TV, America's leading cricket streaming platform, and Shantanu Narayan, head of Adobe, are also part of the group, along with Egon Durban of Silver Lake, a seasoned investor in sports and media.
The involvement of these influential figures highlights the growing interest in cricket within the tech community, particularly among those with roots in India. Arora revealed that the Lord's bid materialized over the past three months, with the consortium members actively engaged in the process. Their shared passion for the sport, often demonstrated by early morning IPL viewing sessions, solidified their commitment to the venture.
While acknowledging the significant investment, Arora expressed confidence in the future of The Hundred, suggesting it could become the second most valuable cricket franchise globally, trailing only the IPL. He sees the potential for significant returns, driven by the increasing value of sports franchises and the unique appeal of live sports in the evolving streaming landscape. "Well-run sports franchises increase in value over time, and disproportionately to expectations," Arora explained.
The consortium is committed to collaboration with the ECB, the counties, and other partners to maximize the potential of the London Spirit. Arora emphasized their intention to work closely with Lord's, reassuring MCC members that their involvement pertains specifically to The Hundred franchise and will not interfere with the traditional aspects of Lord's or Test cricket. He highlighted the warm welcome received from MCC Chairman Mark Nicholas and President Lord Mervyn King, signaling a strong partnership moving forward.
With other Hundred franchises also attracting high-profile owners like the Ambanis and Tom Brady, the league is poised for significant growth. Arora anticipates further investment from IPL teams and a collective effort to enhance the fan experience and elevate the quality of the competition. He concluded, "We’re very excited about this. We think we can collectively make something amazing. Sport has this quality of bringing people together, so we look forward to making this work.”
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