&w=3840&q=100)
IPL ownership in The Hundred: ECB's new lifeline for county cricket
Investment uplift amid financial divide
The current financial landscape of English county cricket reveals deep economic inequalities. While a few top-tier counties command significant revenue streams, many smaller clubs find themselves struggling to stay afloat. Counties without a Hundred team, including Leicestershire and Northamptonshire, depend heavily on ECB funding to survive each season.
The ECB's move to open up The Hundred to private ownership aims to narrow this financial gap. The sale of equity in the eight Hundred franchises is expected to generate substantial revenue, with a portion of it allocated to all 18 first-class counties—regardless of whether they host a Hundred side or not.
IPL and American investors reshape The Hundred
Four franchises in The Hundred have secured backing from IPL owners. Oval Invincibles, Northern Superchargers, Manchester Originals and Southern Brave have attracted investments from management teams behind leading IPL clubs such as Mumbai Indians, Sunrisers Hyderabad, Lucknow Super Giants and Delhi Capitals.
The remaining four franchises—Trent Rockets, London Spirit, Birmingham Phoenix and Welsh Fire—are now supported by American investors, bringing fresh capital and global sports business expertise to English cricket. According to those involved in the transition, this strategic mix of Indian and US investment is not only about financial sustainability but also knowledge-sharing and operations enhancement.
Building facilities, fans and futures
Warwickshire County Cricket Club CEO Stuart Cain has pointed out that this new funding can drive improvements beyond the Hundred-hosting counties. By investing in better stadiums, clubs can enhance the matchday experience, attract more spectators and increase revenue streams. Cain also cited his club's plan to develop an on-site hotel at Edgbaston as an example of how counties can use the money smartly to build long-term revenue-generation avenues.
He added that counties disadvantaged by the Hundred's franchise locations now have the financial means to improve infrastructure and strengthen teams, especially for formats like red-ball cricket and the T20 Blast.
Talent development and raising standards
Former England captain Michael Vaughan believes that the influx of investment will go beyond infrastructure upgrades and play a key role in player development. He urged counties to collaborate more closely and break away from traditional rivalries to ensure best practices are shared across the board.
Former Indian wicketkeeper and Lancashire legend Farokh Engineer echoed this sentiment, recalling a time when county cricket regularly featured global stars. He expressed hope that the renewed financial backing will raise the standard of play and restore county cricket to its former prestige.
Making the most of the windfall
Stakeholders agree that how counties handle the new funding will define the long-term success of this initiative. The money alone won't fix structural issues unless it's invested strategically in facilities, player development, fan engagement and marketing. The IPL has provided a model of sustainable, high-quality cricket through smart management, and there's a strong belief that English counties can learn from this approach to evolve their own systems.
As the fifth season of The Hundred approaches, the ECB's openness to global investment has set the stage for a new era in English cricket. It's a defining moment—one that could decide whether county cricket merely survives or is truly reborn.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
28 minutes ago
- Mint
Google brings Gemini 2.5 flash to India with local processing and smarter AI tools
Google is making it easier for Indian developers to use advanced artificial intelligence in their apps. The tech giant has introduced Gemini 2.5 Flash, a powerful AI model that will now be processed inside India. This means better speed and stronger privacy for users and developers alike. Gemini 2.5 Flash will run from Google's cloud centres in Mumbai and Delhi. These centres allow developers to use the AI model without sending data across countries. It is especially useful for people building apps in sectors like banking, healthcare, and government. This move is not just about faster AI. Google is also improving its Maps services for developers in India. Through a feature called Vertex AI grounding, apps can now access real-time map data that is more detailed and local. This is useful for apps built for logistics, tourism, or food delivery. Google is also bringing AI summaries to its Places API. This allows developers to quickly add useful information about popular places into their apps. These summaries are short, clear, and created using AI, saving time and improving user experience. The company is also cutting costs. With new pricing for its Places UI Kit, Indian developers can now add Maps-based features to their apps more affordably. This is great for startups and small teams working on new ideas. In addition, Google is now offering an AI-powered weather API. This service gives more accurate and localised weather forecasts, which is useful for delivery companies, ride apps, and even shopping platforms that rely on timing and logistics. By offering these features, Google is helping Indian developers build better apps. These updates are designed with India's unique needs in mind and show that the company is serious about supporting the country's growing tech community.
Mint
28 minutes ago
- Mint
Small-Caps Just Outran the S&P — Did You Miss the First 10%?
For much of 2024 and early 2025, U.S. stock market gains were narrowly focused on mega-cap tech. Names like Nvidia, Microsoft, Apple, and Amazon dominated headlines and portfolios. But starting mid-June, a new trend emerged. The Russell 2000, which tracks U.S. small-cap stocks, rallied nearly 10% in just five weeks. This was not a speculative bounce. It was driven by stronger earnings, favorable policy signals, and a broadening of market participation. Most Indian investors missed this move, not because they weren't paying attention, but because their portfolios were too concentrated in large caps. If you're sitting on a ₹ 5 lakh U.S. allocation that hasn't moved much since April, this may be why. The Russell 2000 had been lagging broader indices for much of the past year. That changed in June 2025, as a combination of economic signals and market dynamics created a favourable environment for smaller companies. Four key factors stood out: At the June meeting, the U.S. Federal Reserve decided to hold rates steady. But inflation data released shortly afterwards seemed to indicate that inflation was cooling faster than expected. Markets quickly took notice and began pricing in a likely rate cut by September. This change in expectations provided a bounce to small-cap stocks, which tend to be more affected by borrowing costs than their large-cap peers. The second-quarter earnings season exhibited a pivotal shift in market leadership. Undoubtedly, the technology giants continued to show impressive numbers. However, firms in industrials, consumer services, and regional finance (often small caps) also posted solid results. Gains were not restricted to a few names but represented a wider uptick across business types. In the past, the summer months have been known to favour small stocks. Institutional portfolios usually go through mid-year changes at this time, and fund flows tend to be more evenly distributed. This seasonal trend, along with a rise in earnings visibility, helped drive new interest in smaller names from investors this quarter. After a subdued first half, the IPO calendar began to pick up in June and July. A handful of mid-sized companies came to market, and several were well received by investors. This renewed activity helped to bring attention back to parts of the market that had been overlooked and gave further momentum to the small- and mid-cap rally already underway. While the Russell 2000 gained nearly 10% since mid-June, the S&P 500 also hit new record highs, crossing the 6,300 mark in July. However, the composition of this rally is worth noting. The top 10 stocks now account for nearly 34% of S&P 500 weight Most gains in 2025 have come from AI and semiconductor plays Breadth has been weak, with only about 50% of S&P constituents outperforming the index itself This has led to valuation concerns among institutional investors. As a result, capital rotation into small- and mid-cap names has picked up. Market performance in the U.S. has not followed a single path in recent weeks. While large-cap indices like the S&P 500 and Nasdaq have extended their gains, a different trend has taken shape in smaller companies. Since mid-June, the Russell 2000 has quietly pulled ahead. The table that follows offers a side-by-side view of how these segments have fared—useful context for anyone tracking the shift in market leadership. Index or ETF Return Since June 14 2025 YTD Return Notes Russell 2000 6.88% approx. +2.38% Small-cap index S&P 500 4.38% approx +8.11% Large-cap dominated IWM 5.40% approx +1.55% Most popular small-cap ETF VB 4.24% approx +2.64% Broader exposure, lower fee Nasdaq Composite 5.24% approx +8.85% Mostly large-cap tech These numbers highlight the divergence that has emerged over the last month. Despite trailing on a full-year basis, small-cap indices and their ETF counterparts have shown a sharp upward shift since June. This change in momentum is drawing renewed attention from allocators seeking broader market participation. Concentration risk remains a major blind spot. Most Indian retail investors have built their U.S. equity exposure through familiar names such as Apple, Microsoft, Google, Meta, Tesla. These companies are highly liquid, well covered by media, and often held through thematic baskets. While these stocks have performed well, they do not reflect broader U.S. market behavior. Small-caps, despite being undervalued for most of the last 12 months, have largely been ignored due to low visibility and lack of narrative momentum. Another factor: ETF usage remains low. Data shows that only a small portion of users have added instruments like IWM or VB to their U.S. portfolios. The focus remains on stock picking rather than asset allocation. The first 10% rally in small-caps may have passed, but several reasons suggest that this move could extend. Small-caps continue to trade at a discount to large-caps. On a forward P/E basis, the Russell 2000 trades at around 14.8x, versus 21.6x for the S&P 500. This valuation gap remains well above the 10-year median. Small-cap companies in the U.S. are more domestically focused than their large-cap peers. With U.S. consumer confidence near two-year highs and retail sales rising, small businesses stand to benefit disproportionately. Core PCE inflation fell to 2.3% in June, its lowest level since early 2021. The Fed's next meeting in September is widely expected to deliver a rate cut, which could further ease financing conditions. Data from Lipper and Refinitiv show that institutional flows into small-cap equity funds turned net positive in July for the first time in 11 months. This rally is not about speculation. It's about catching up. And it can be done with prudence. Here are a few smart ways to approach it: The iShares Russell 2000 ETF (IWM) offers direct exposure to the small-cap index. It's highly liquid, widely tracked, and trades during Indian hours on U.S. platforms. It can serve as a core holding to diversify beyond tech. The Vanguard Small-Cap ETF (VB) offers similar exposure at a slightly broader level, with a lower expense ratio. It includes more mid-cap names and has outperformed IWM over longer periods. Not all small-cap plays are traditional. Some mid-sized companies that enable AI infrastructure like Super Micro Computer, Arista Networks, or Onto Innovation are still under-owned and have room to grow. Appreciate's app allows you to sort U.S. ETFs by market cap focus, volatility range, and sector exposure. Every tactical re-entry carries risk. Here's how to stay grounded: Use staggered entries : Allocate in 2–3 tranches to manage timing risk : Allocate in 2–3 tranches to manage timing risk Set downside alerts : Many platforms, including Appreciate, allow you to trigger notifications if volatility spikes : Many platforms, including Appreciate, allow you to trigger notifications if volatility spikes Avoid overexposure: Small-caps can be volatile. Limit exposure to 15–20% of your total U.S. basket Remember, the goal isn't to chase the last percent. It's to rebalance intelligently. For Indian investors holding a concentrated U.S. equity portfolio, adding small-cap exposure doesn't require a complete overhaul. The table below outlines how a typical ₹ 5 lakh allocation, often skewed toward large-cap tech, can be reshaped to include small- and mid-cap positions while maintaining core holdings. Allocation Typical Portfolio Rebalanced Portfolio Apple 15% 10% Microsoft 15% 10% Nvidia 12% 8% Amazon 10% 8% IWM 0% 10% VB 0% 8% SMID AI 0% 6% Cash/Bonds 8% 10% Others 40% 30% This structure retains exposure to established performers while creating space for under-represented growth segments. With measured additions to ETFs and mid-cap themes, the portfolio becomes more balanced, better aligned with where leadership may emerge next. It doesn't have to be. Investing is not about chasing what just worked. It's about anticipating where the market is heading, and positioning accordingly. With the S&P 500 looking stretched and small-caps playing catch-up, this could be one of the better risk-adjusted re-entry windows available in 2025. The first 10% move may be behind us. But the next leg of the rally, driven by valuations, earnings, and policy, could still reward those who act now. Appreciate gives Indian investors access to: U.S. listed ETFs like IWM, VB, and IJT Filters for small- and mid-cap growth Real-time market triggers and alerts Fractional investing to build positions starting from ₹ 1 or more 1 or more One-tap rebalancing to shift exposure without starting from scratch You don't need to overhaul your portfolio overnight. But if your U.S. allocation is 90% large-cap tech, now is a good time to review and recalibrate. Markets move in cycles, and leadership always rotates. This summer, that rotation has already begun. Small-caps aren't just catching up, they're signaling renewed investor confidence in the broader U.S. economy. And if your portfolio missed the first 10%, don't dwell on it. Focus on the 90% of decisions still within your control. To know more about investing in US stocks, ETFs, and Mutual Funds, click here
&w=3840&q=100)
Business Standard
28 minutes ago
- Business Standard
TCS' layoffs aimed to steady margins in a weak demand environment: Experts
TCS trims 12,000 mid- to senior-level jobs to address excess capacity and lift operating margins amid macroeconomic uncertainty and softening revenue growth Avik Das Bengaluru Listen to This Article Tata Consultancy Services (TCS)' decision to lay off around 12,000 employees — mostly mid- to senior-level managers — is less about preparing for an artificial intelligence (AI)-led future and more about a push to improve profitability, according to analysts tracking the sector. While the company cited future readiness and evolving business needs as reasons, industry experts say the move is a strategic cost-cutting exercise aimed at boosting operating margins, which have remained stubbornly below the company's aspirational range despite repeated efforts. The announcement came as a surprise to many, considering Indian IT companies have traditionally been discreet about involuntary layoffs,
