Chelsea co-owner Todd Boehly purchases 49 per cent stake in the Trent Rockets franchise as American billionaire makes shock £40m move into English cricket

Cain International, the company that Boehly co-funded alongside Chelsea director Jonathan Goldstein, are said to have lodged the winning bid for The Hundred outfit as part of the ongoing auction process being overseen by the ECB.

The Trent Rockets, who claimed The Hundred title in 2022 and count ex-England captain Joe Root among their centrally contracted players, are reportedly valued at £80 million ($99m). That means Boehly will be parting with around £40m ($50m) in order to acquire 49 per cent of the team.

Boehly and Co will have plenty of say when it comes to big decisions at Trent Bridge, but Nottinghamshire County Cricket Club will retain a controlling 51 per cent stake in the Rockets. They have been snapped up after other wealthy investors pumped funds into rival outfits.

According to The Telegraph, Boehly – who helped to complete a big-money takeover at Premier League giants Chelsea in May 2022 – had also expressed interest in the London Spirit and Oval Invincibles, only to be outbid.

The Boehly-led regime at Stamford Bridge has pumped considerable funding into Chelsea, with over £1 billion ($1.2bn) being spent on transfers, but the Blues are yet to deliver tangible return on that investment in the form of major trophies.