Google CEO Sundar Pichai has joined a group of Silicon Valley executives to invest £80m in The Hundred, cricket league which is calling itself as aimed at the 18+ consumer and looking to attract younger fans.
New Delhi: CEO of Google Sundar Pichai has partnered with a group of Silicon Valley CEO to pursue The Hundred — the short format league for England and Wales. According to reports, the consortium is reportedly for £ 80m (€97 million) for either The Oval Invincibles or the London Spirit. This demonstrates the growing interest from tech titans on sports.
The triad behind the bid is Pichai and Nikesh Arora, CEO of Palo Alto Networks and Satyan Gajwani, a former Times Internet VP in his day. Speakers also include Egon Durban, co-CEO of Silver Lake Management and the 24-hour CEO’s of Adobe Jeff Kavanaugh (sic name to @ShantanuNarayen99) to Microsoft head Satya Nadella — a quintet of technology chieftains.
The format, in which 100 balls are bowled per innings and played on simplified rules of a game was introduced with an aim of attracting younger viewers in 2021 as part of The Hundred. Through a “successful” approach, this contemporary style is bringing in over 2 million fans at its games on both sides of the English-Wales border.
The England & Wales Cricket Board (ECB), however it has decided to start an auction for trophies in this Current 2021’s launch of 8 teams under The Hundred. Investor in a 49% stake comp, full ownership options further available managed by the Raine Group; The London Spirit is very appealing due to its historical home at Lord’s, for investors.
The Sports Investment Era Is Unlashed
The Hundred would represent a potentially juicy fundraising goal as each year, it is estimated with combined broadcasting rights and sponsorship/ ticket sales of around £60 million, pretty healthy numbers. Pichai joining in suits, and shows that the trend tech executives going into sports is on a rising trend, both industries are entering into a new era.
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