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Xtra Time Web Desk: Mumbai Indians, Kolkata Knight Riders, Rajasthan Royals, Sunrisers Hyderabad and Lucknow Super Giants will be bidding for teams in Hundred. 

According to ESPNCricinfo, the GMR Group, which recently acquired Hampshire and Avram Glazer, co-owner of Manchester United, also submitted bids ahead of the October 18 deadline set by the ECB for potential investors to register their interest in buying 49 per cent stakes in each of the eight Hundred teams.

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"Expressions of interest could be for all eight teams, which would be culled to four in the next step, which will start in November when the investors get to meet the host counties of each Hundred franchise," stated the report.

"Following that, investors would need to prune their wishlist to four teams, as part of the second stage, which will then come down to two teams of which they would need to make their final choice."

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The ECB aims to finalise the investors by early 2025 but is in no rush, as it wants to avoid ‘underselling’. ECB chairman Richard Thompson suggested the possibility of a hybrid model next year, where the ECB would run some teams while private investors would run others.

It is also mentioned in the report that Punjab Kings opted out while several have not confirmed yet. It is unclear whether Chennai Super Kings or CVC, owners of Gujarat Titans, submitted bids or not. Time will tell the whole story till then all eyes will be on the final confirmation.