Abhay Singh
The Hollywood stars Ryan Reynolds and Rob McElhenny, who jointly control Wrexham AFC, have approached Glamorgan with the possibility of purchasing a share in Welsh Fire, the Hundred team based in Cardiff.
After assuming control of Wrexham in November 2020, Reynolds and McElhenny saw the team promoted back to the third division of English football in 2022–2023 and 2023–2024. It is thought that the two are thinking about making more investments in Welsh sports.
The ECB formally started the process for securing private investment
The ECB has begun the process of securing private investment in the Hundred, with American investment bank Raine circulating prospectuses to interested parties. Vikram Banerjee, the ECB’s director of commercial operations, reported a “phenomenal level of interest” from a wide range of investors.
Glamorgan’s home field, Sophia Gardens, holds the record for the smallest capacity in the Hundred. With an anticipated price of approximately £30 million, Welsh Fire is predicted to be the least expensive franchise. The first investments’ income will be split among the counties, although Glamorgan will receive a 51 percent controlling share in Welsh Fire.
Glamorgan has been in talks with several interested parties, including the owners of Pakistan Super League franchise Multan Sultans. However, the prospect of Reynolds and McElhenny buying a stake is seen as an exciting proposition by club CEO Dan Cherry.
Cherry said “It is a feasible option. Contact’s been made. There’s not been anything substantial come back yet, but we’re in the process and I know that they’ll certainly be included in any process that we’ve got going forward. All bids and offers that are going to come in are going to be interesting to us, and we’re going to have to evaluate what the best bid is for us.”
He also added “There’s obvious interest in what Ryan Reynolds and the guys have done at Wrexham, which has been fantastic for football in North Wales. That doesn’t necessarily mean to say that it’ll be the right option for us, but if they’re interested in talking to us, obviously it’s an exciting proposition.”
“We just see the great opportunity here to be part of a nation”
IPL franchises are expected to bid for stakes in Hundred teams, but the ECB is hesitant to replicate the SA20’s ownership model. Private equity firms CVC and RedBird Capital are also interested in the sale process. Ineos, who has invested heavily in sports, is unlikely to bid.
Glamorgan believes the Fire’s low valuation, similar costs across Hundred with a salary cap, and an even split of central broadcast money make them an attractive investment.
Cherry said “We just see the great opportunity here to be part of a nation, not only being great value, “You’d be representing Wales: Cardiff is a fast-growing city with major events happening here all the time at Principality Stadium, the Castle, and Cardiff City Stadium. It’s a great place to invest, and we believe we’ve got something different to all of the other venues.”
He continued “We are really proud of the fact that we are the only Welsh first-class county, and that we are hosting England matches here at Sophia Gardens is important to us. Ultimately, that is something which, when we talk to a potential partner or investor, will be something really important to us: maintaining our Welsh interest, heritage and history.”
Glamorgan is open to potential partnerships with potential investors. They intend to retain their 51% stake in Welsh Fire and seek a partner who can enhance the club’s operations and support, rather than take over. The club is seeking a true partner that can add value to the club, whether it’s on the cricket side, players and coaches, or commercial aspects. They are not looking to lose control and sell their soul, as some would suggest.
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