In the realm of cricket, where tradition meets innovation, a new player has emerged on the scene – The Hundred. A recent statement by Jason Schretter, Head of EMEA at Raine Group, suggests that this 100-ball competition could potentially overshadow the mighty Indian Premier League (IPL) to become cricket’s “premier tournament.
”
Schretter shared his insights at the SportsPro Investment Summit in London, emphasizing The Hundred’s strategic positioning to unlock untapped markets globally. He highlighted how the tournament’s convenient time zone could attract viewers from around the world. In his own words, “
The reason why I say that is it is geographically positioned in a time zone that can unlock the whole cricket world.
”
While acknowledging that surpassing the IPL in popularity would be a long-term goal, Schretter remains optimistic about The Hundred’s trajectory. He believes that its unique format and accessibility could make it a frontrunner in the cricketing landscape. As he put it, “
The Hundred should have the ambition not just to be the second best [franchise cricket league], but to be the best.
”
Despite these aspirations, Schretter also acknowledged that achieving parity with the IPL would take time. With its massive viewership numbers and commercial success, including record-breaking TV ratings and substantial business value growth year-over-year, the IPL stands as a formidable benchmark for any cricket league.
Jonathan Goldstein, CEO of Cain International and an investor in Trent Rockets within The Hundred setup, shared his perspective on building a product comparable to the IPL. While recognizing the monumental success of India’s premier T20 league, Goldstein expressed his ambition to position The Hundred as one of the top global cricket competitions.
Goldstein explained during a panel discussion at the summit with Schretter and Vikram Banerjee (MD of The Hundred), “
The ambition here is to create – if one’s being sensible –the second biggest cricket competition in world.
” He emphasized that while emulating IPL-like success was crucial for them; their primary focus was on steadily growing The Hundred over time.
As discussions around The Hundred’s potential dominance unfolded, concerns were raised about emerging rivalries from other domestic leagues like Major League Cricket (MLC) in America. Notably backed by influential figures from multiple IPL franchises and tech giants like Microsoft’s CEO Satya Nadella; MLC represents another contender vying for attention amidst traditional sports preferences in America.
However, Goldstein remained unfazed by this emerging competition across continents. In his view,”
America’s got its staple sports… And Britain has cricket in summer.” This sentiment underscores his belief in exploiting underutilized opportunities within traditional sporting landscapes rather than directly competing with established leagues like MLC.
Vikram Banerjee provided further insight into The Hundred’s progress regarding team sales agreements. Despite initial delays due to complex negotiations involving multiple stakeholders and legal entities; Banerjee assured enthusiasts that deals were nearing finalization.“We’re finally in a place where majority of everything is all agreed,” said Banerjee optimistically.
With each development marking new milestones for The Hundred towards establishing itself as a significant player on global cricketing map; only time will tell whether it can truly challenge giants like IPL or carve out its unique niche within this dynamic sporting ecosystem.
