Why Sunrisers Hyderabad’s deal to take over Northern Superchargers is unique
Sunrisers Hyderabad have acquired the Northern Superchargers for £100 million, becoming the third IPL franchise to own stakes in a team in the Hundred. But unlike the other two instances, Sun Group’s successful bid is the first case of a 100% takeover as Yorkshire has became the first team to agree to sell their entire stake in The Hundred, according to BBC.
Earlier, Mumbai Indians had bought 49% ownership of Oval Invincibles, while Lucknow Super Giants purchased a reported 70% in the Manchester Originals.
“We are delighted to be entering into an exclusivity period with the SUN Group, and will be continuing our conversations with them in the coming weeks with a view to setting the Northern Superchargers up for long-term and sustained success,” Yorkshire CCC’s chief executive officer Sanjay Patel said in a press statement.
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Patel said SRH’s vision matched with the values pursued by Yorkshire.
“Having been in consultation with them for some time now, it is clear that they are aligned to the values and future direction of the Club and will play a huge part in ensuring we can go on to achieve great success in the coming years.
“It is clearly a huge milestone for Yorkshire CCC, the Northern Superchargers and the Sun Group, but it is worth stressing that there is a lot of detail to be discussed alongside further due diligence and legal processes before a contract can be signed,” he added.
This is SRH’s second overseas investment after owning the Sunrisers Eastern Cape in the SA20.
Led by Aiden Markram, the Eastern Cape are two-time defending champions in the SA20.
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The SRH have also won the IPL once in 2016, when they defeated Royal Challengers Bengaluru by eight runs, and they are currently captained by Pat Cummins of Australia.
The England and Wales Cricket Board (ECB) has so far sold London Spirit, Oval Invincibles, Welsh Fire, Manchester Originals and Birmingham Phoenix to various bidders while Trent Rockets and Southern Brave are up for sale. At least one more IPL team could still be in contention with the Delhi Capitals group.
(With PTI inputs)
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