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

Latham & Watkins has advised the England & Wales Cricket Board (ECB) on the completion of strategic partnerships for all eight teams in The Hundred. This includes the newly announced partnership between Surrey County Cricket Club and Reliance Strategic Business Ventures Limited, a wholly owned subsidiary of Reliance Industries Limited, which will see the Oval Invincibles rebranded as MI London from 2026, and the deal with Cain & Ares Management Credit funds (Ares) for a stake in Trent Rockets, in partnership with Nottinghamshire County Cricket Club, completed in October.

The partnerships represent a combined valuation of over £975 million for the teams, with over £500 million set to be invested into English and Welsh cricket. This includes a dedicated £50 million commitment to grassroots cricket, ensuring the game continues to thrive at every level, with the remainder distributed to professional counties.

Latham has now advised the ECB on all eight strategic partnerships:

• Birmingham Phoenix — Knighthead Capital Management, LLC, on behalf of its investors (Knighthead) (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%)
• Southern Brave — GMR Group (49%)
• Trent Rockets — Cain & Ares (49%)
• Welsh Fire — Washington Freedom (50%)

The Latham team was led by London corporate partner Farah O’Brien, with associates James Richards, Ryan Martin, John Slater, and Noah Lipshut, and London Entertainment, Sports & Media partners Patrick Mitchell and Rachael Astin.