Ryan Reynolds and Rob McElhenny Seen as “Feasible Option” for The Hundred team Welsh Fire Investment
Welsh Fire, a cricket team in Cardiff that plays in The Hundred Cricket League is talk of the town as Ryan Reynolds and Rob McElhenny, two Hollywood actors who own Wrexham AFC, are talking to Glamorgan about expected investment of this team.
Reynolds and McElhenny took control of Wrexham in November 2020. Since then, the football club has had great success, earning back-to-back promotions in the 2022-23 and 2023-24 seasons. The club is now playing in the third level of English football. It seems like the two are now looking to invest more in Welsh sports.
Recently, the England and Wales Cricket Board (ECB) started looking for private investors in the Hundred. Raine, an American bank, has been sending information to interested buyers. Vikram Banerjee, the ECB’s business director, said there’s been a huge interest from many different investors.
The home ground of Glamorgan, Sophia Gardens, is the smallest of all the venues in the Hundred. Because of this, Welsh Fire is thought to be the cheapest team, with an estimated value of around £30 million. Money from these investments will go to all the counties, but Glamorgan will get to keep a 51% share of Welsh Fire, giving them control of the team.
Glamorgan has talked to several interested parties over the last few months. Among them are the owners of the Pakistan Super League team, Multan Sultans. But there’s a lot of excitement about the possibility of Reynolds and McElhenny buying a stake. Dan Cherry, the chief executive of Glamorgan, said this is an “exciting proposition.”
Cherry told ESPNcricinfo, “It’s possible. We’ve been in touch, but there hasn’t been anything significant yet. We’re still in the early stages, but they’ll definitely be included in any future discussions. All bids will be considered, and we’ll look at which one is best for us.”
He added, “There’s a lot of interest in what Ryan Reynolds and his team have done at Wrexham, which has been great for football in North Wales. But that doesn’t mean they’ll be the right option for us. Still, if they want to talk, it’s an exciting idea.”
Many Indian Premier League teams are expected to make offers for stakes in the Hundred teams. However, the ECB doesn’t want all teams to be owned by IPL franchises, as it happened in SA20, where all the teams are owned by IPL groups. Private equity firms like CVC and RedBird Capital are also interested, but Ineos, who have invested in sports like Manchester United, are unlikely to make a bid.
Glamorgan thinks that Welsh Fire’s relatively low value makes it an attractive investment. This is because the costs across the Hundred are similar, with a salary cap in place, and most of the money comes from central TV deals.
Cherry said, “We see a big opportunity here to be part of something great and represent Wales. Cardiff is a growing city with lots of major events at places like Principality Stadium and Cardiff City Stadium. It’s a great place to invest, and we believe we offer something unique compared to the other venues.”
He also added, “We’re proud to be the only first-class Welsh cricket county, and hosting England matches at Sophia Gardens is important to us. This Welsh connection will be a key point when we talk to potential investors.”
Cherry said that Glamorgan is open to options but won’t rush into a deal. As of now, they plan to keep their 51% share in Welsh Fire. He said, “We want to make the best decision for the club and cricket. We’re looking for the right partner or investor who can help us grow without taking over the team.”
He also mentioned that they want a partnership where the investor can add value, whether through improving cricket players and coaches or helping commercially. “We don’t want to lose control or sell out,” Cherry said.
Glamorgan’s cricket season has been mixed under head coach Grant Bradburn. Their success this year depends on the Metro Bank One-Day Cup final against Somerset. However, Cherry, in his first full season as chief executive, believes that the club is in a much better financial position now. This will allow them to grow cricket in Wales and achieve more goals on the field.
Cherry added, “We know we haven’t done as well as we wanted on the field over the last 15 to 20 years. We haven’t produced players for England, and we’ve spent all that time in Division Two. But the chance to be part of the team that can change that is exciting.”
He concluded by saying that while they’ve had to deal with financial challenges, the club is now in a stronger position. This means they can focus on improving their cricket performance in the coming years.
