Chelsea part-owner Todd Boehly is seeking to purchase a slice of one other English sports activities group — this time in cricket.
Cain Worldwide, an organization co-funded by the American businessman, is paying 40 million kilos ($50 million) for 49% of Trent Rockets, a franchise in a match referred to as The Hundred, in keeping with widespread stories within the British media.
Neither Trent Rockets nor Cain Worldwide have publicly commented on the deal, which now enters a interval of exclusivity between the events earlier than being finalized.
Boehly, who additionally part-owns the Los Angeles Dodgers, has been a part of Chelsea’s possession since Might 2022 after he fronted the $3.2 billion buy of the Premier League soccer group with Clearlake Capital from the membership’s long-time proprietor, Russian oligarch Roman Abramovich.
Auctions of the eight franchises in The Hundred, which has been working since 2021, have attracted buyers from India, Silicon Valley and New York over the previous few days, possible incomes the England and Wales Cricket Board greater than 500 million kilos ($620 million) to reinvest within the home recreation.
The profitable buyers have all purchased a minimal 49% share of the franchises, that are at present owned by affiliated county groups.
The Hundred is a shorter type of cricket — every group faces 100 balls — that may evaluate to the Twenty20 format, which is performed within the well-liked Indian Premier League amongst different locations.
Boehly and Behdad Eghbali, the co-founder of Clearlake Capital, have reportedly been engaged in an influence battle at Chelsea. There are stories the 2 factions need to purchase one another out.
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AP cricket: https://apnews.com/hub/cricket
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