Latham & Watkins Advises ECB on Completion of Strategic Partnerships for The Hundred

Latham & Watkins advised the England & Wales Cricket Board (ECB) on the completion of strategic partnerships for all eight teams in The Hundred, including arrangements involving Reliance Strategic Business Ventures Limited and the Cain & Ares Management Credit funds in partnership with Nottinghamshire County Cricket Club. The transaction comprises strategic equity partnerships for each of the eight The Hundred teams. Together the arrangements represent a combined valuation in excess of £975 million, with more than £500 million to be invested into English and Welsh cricket. That commitment includes a dedicated £50 million to grassroots cricket, with the remaining funds to be distributed to the professional counties. The partnerships are as follows: - Birmingham Phoenix — Knighthead Capital Management, LLC (on behalf of its investors) (49%) - London Spirit — Tech Titans (49%) - Manchester Originals — RPSG Group (70%) - Northern Superchargers — Sun TV Network Limited (100%) - Oval Invincibles — Reliance Industries Limited (through its wholly owned subsidiary Reliance Strategic Business Ventures Limited) (49%); the Oval Invincibles will be rebranded as MI London from 2026 - Southern Brave — GMR Group (49%) - Trent Rockets — Cain & Ares Management Credit funds (49%), in partnership with Nottinghamshire County Cricket Club - Welsh Fire — Washington Freedom (50%) Latham & Watkins represented the England & Wales Cricket Board (ECB) with a team composed by: Farah O’Brien (London corporate partner); associates James Richards, Ryan Martin, John Slater and Noah Lipshut; and London Entertainment, Sports & Media partners Patrick Mitchell and Rachael Astin.

Latham & Watkins Advises ECB on Completion of Strategic Partnerships for The Hundred

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