Tech Consortium Acquires 49% Stake in London Spirit for £295 Million

A consortium of tech leaders, including Microsoft CEO Satya Nadella and Google CEO Sundar Pichai, has secured a 49% stake in the London Spirit cricket team for £145 million, valuing the franchise at approximately £295 million. This acquisition reflects the increasing intersection of technology and sports, as the consortium aims to enhance the team's financial resources and brand visibility. The deal was part of a competitive bidding process, where the consortium outbid prominent figures like the Glazer family and Todd Boehly. The England and Wales Cricket Board (ECB) has raised a total of £244 million from sales of similar stakes in other teams within The Hundred franchise. The remaining 51% stake in the London Spirit will continue to be held by the Marylebone Cricket Club (MCC), which is retaining its majority ownership. With more auctions planned, the ECB expects to exceed its initial target of £350 million from the sale of 49% stakes across all eight teams.