Microsoft CEO Satya Nadela along with Google CEO Sundar Pichai and others have joined a consortium that has currently won the bid to own a The Hundred Team. London Spirit is now owned by 49% of this consortium. The remaining 51% of the shares of the club continue to be owned by the ECB.
Along with Nadella and Pichai, the CEOs of Times Internet, Adobe, and Silverkae Technology are also a part of this consortium. This is the second venture of Nadella and Pichai where the Indian CEOs have invested in a cricket team. Previously, they went on to co-own MLC side Seattle Orcas.
Global Indian CEOs invest in Cricket
Coming to The Hundred, the ECB was willing to share 49% of all the other teams of the tournament. Recently, Mumbai Indians secured the 49% share deal to own Oval Invincibles. In a bid to improve the finances of the teams in the league, the ECB underwent the process of selling the shares of the clubs.
As the bidding process continues, the ECB is hopeful that all the teams will be owned by foreign investors. Nadella and Pichai’s consortium took part in an e-auction on Friday where they won their bids.
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