Tech CEOs of Indian origin are making a bid for London cricket team Bloomberg RT India

A group of Silicone Valley CEOs have reportedly come together to make a bid for the ownership of a London cricket team

A consortium of global technology CEOs of Indian origin are reportedly making a bid for a London-based cricket team in a competition called 'The Hundred', which will be played in England and Wales, according to Bloomberg. The names on the list reportedly include Alphabet CEO Sundar Pichai, Microsoft CEO Satya Nadella and Adobe CEO Shantanu Narayen.

The $97 million bid for one of two teams: the Oval Invincibles or the London Spirit, is paramount by Nikesh Arora, CEO of Palo Alto Networks Inc, and Satyan Gajwani, vice chairman of Times Internet Ltd, the digital arm of the Times of India Group, according to Bloomberg.

In England, The Hundred is marketed as a modernized cricket format aimed at attracting younger fans and families. Launched in 2021, it offers matches with 100 balls per side and simplified rules, making the game faster and more accessible. Since its inception, the competition has attracted more than two million visitors across eight venues in England and Wales.

To strengthen The Hundred's financial position, the England and Wales Cricket Board (ECB) opened to launch a bid in September, inviting private investors to acquire stakes in the league's eight teams. The ECB is offering its 49% stake in each team, with an option for full takeover.

Alphabet's Pichai and others, noted cricket enthusiasts, are looking to capitalize on the game's growing popularity. Pichai congratulated the Indian team on their victory over South Africa in the 2024 T20 World Cup Final and mentioned “so deserved.” The victory was celebrated by millions of cricket fans in India.

Nadella and Narayen invested $120 million in setting up a professional T20 cricket league in the US in 2022 to popularize the game in that country, Times of India reported.

The Indian-origin CEOs are reportedly hoping to emulate the success of the Indian Premier League (IPL), whose valuation as a business has increased up 6.5% last year to $16.4 billion in England, where cricket was born. In this regard, London Spirit is particularly attractive to investors because of its home base at Lord's, often the “home of cricket.” Combined, the men's and women's 'Hundred' competitions generate around £60 million ($73 million) annually for the ECB through broadcasts, sponsorship and ticket sales.

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