Chelsea owner Todd Boehly acquires 49% stake in Trent Rockets
What's the story
Chelsea owner Todd Boehly has successfully acquired a 49% stake in The Hundred franchise, Trent Rockets.
The deal was facilitated through Cain International, a real estate investment firm co-founded by Boehly and British entrepreneur Jonathan Goldstein.
The transaction is valued at just under £40 million, which effectively takes the franchise valuation to £79 million.
Here are further details.
Ownership details
Nottinghamshire retain majority control of Trent Rockets
Post the deal, Nottinghamshire will still retain a majority 51% stake in Trent Rockets. The team is based at their Trent Bridge ground.
Earlier, Cain International had expressed interest in buying a stake in London Spirit.
However, a Silicon Valley consortium eventually bought a 49% share in the Lord's side for £145 million.
Franchise sales
The Hundred franchise sales surpass £500 million
With the Trent Rockets deal, the stakes of seven Hundred teams have been sold for over £500 million. The value of these seven franchises is estimated at approximately £820 million.
Southern Brave, the eighth and final team, will be sold later this week with Delhi Capitals's co-owners expected to acquire it after their buyout of hosts Hampshire.