Private equity firm eyes up stake in Birmingham Phoenix

Private equity firm CVC Capital Partners is reportedly bidding for a stake in the Birmingham Phoenix cricket franchise.

According to Sky News, CVC has been shortlisted for the England and Wales Cricket Board’s (ECB) 49% stake in the Hundred club.

The ECB opened the process to secure private investment into the eight teams in The Hundred. It’s working with the host County Cricket Clubs on finding prospective partners on what will be the most significant private investment in UK cricket.

With both Birmingham Phoenix and Warwickshire County Cricket Club counting Edgbaston as its home, the move attracts attention to Mark McCafferty, ex-advisor to CVC and now Warwickshire’s chair.

A Sky source has said that if CVC was formally considered, McCafferty “would not participate in the discussion or decision-making process”.

If CVC were successful in its bid, The Hundred would add to its other sporting investments in the Six Nations, Premiership Rugby, LaLiga and volleyball.

Both CVC and Warwickshire CCC have been contacted for comment with no immediate response.