International law firm Bird & Bird has advised Marylebone Cricket Club (MCC) on the transfer of a 51% stake in the London Spirit cricket team — which competes in The Hundred competition — from the England and Wales Cricket Board (ECB).
London Spirit has been valued at £295 million. The remaining 49% stake has been acquired by a Silicon Valley tech consortium, with Bird & Bird also advising on the governing documents between MCC and the consortium.
London Spirit is a professional cricket team based in London, competing in The Hundred competition — a modern, fast-paced, 100-ball format designed to showcase high quality, entertaining cricket as well as broadening the sport’s appeal. Known for its blend of seasoned internationals and emerging talent, the team plays its home matches at Lord’s Cricket Ground.
Founded in 1787 and also based at Lord’s, Marylebone Cricket Club is one of the most historic and influential cricket institutions in the world. MCC remains the custodian of the Laws of Cricket and continues to play a vital role in promoting the spirit and global development of the game. This is the first time MCC has taken control of a professional cricket team.
The Bird & Bird team advising on the transaction included Matt Bonass (Corporate, Partner), Jonathan Angell (Corporate, Partner), Craig Giles (Commercial, Partner), Zoe Feller (Tax, Partner), and Richie Lamb (Corporate, Senior Associate).
Matt Bonass, Corporate Partner at Bird & Bird, commented: "We’re proud to have supported MCC on this landmark transaction, which marks a significant moment in the evolution of The Hundred and the commercial future of the game. It’s been a privilege to work alongside such an historic institution and help shape a new chapter for London Spirit."
Rob Lynch, MCC Director of Cricket and Operations, said: "This is a huge moment in the history of MCC, and we’re delighted with the outcome. Bird & Bird’s combination of deep sports law expertise and proven experience in advising on complex private equity transactions made them the ideal partner for this deal. Their team fitted in seamlessly with ours, providing clear, strategic advice throughout and helping us build a strong foundation for the future of the franchise."
