Blues owners complete £40m purchase of Birmingham Phoenix stake

Warwickshire will retain the majority shareholding, with the two groups formally taking control of the Edgbaston-based Phoenix from October.

The deal is part of what ECB chair Richard Thompson described as a “seminal moment” in English cricket and is one of six completed with teams in The Hundred competition. Investment deals for the remaining two franchises are expected to be completed later this year.

The eight total partnerships value the teams at more than £975million, with more than £500m being generated via the sales which will now be shared by the England and Wales Cricket Board (ECB) among its professional counties and at least £50m for grassroots cricket.

Knighthead, who took over Blues in 2023 and have ambitious plans to build a 60,000-seater stadium as part of a new sports quarter in the city, are thought to have paid around £40m for their stake in the Phoenix.

The deal will see Warwickshire assume control of both men's and women's teams. The franchises have been owned by the ECB since The Hundred was launched in 2019.

Chief executive Stuart Cain believes Knighthead’s global influence and understanding of the city and the region also makes them ideal partners.

He said: “The growth of Birmingham Phoenix over the past five years has been phenomenal and this commitment from Knighthead will enable us to take the team to new levels globally. 

“It will increase the impact of cricket across the West Midlands and into our region’s diverse communities, attracting new followers to the sport.” 

Andrew Shannahan, managing member at Knighthead, added: "We’re incredibly proud to deepen our investment in Birmingham through joining The Hundred and putting our support behind Birmingham Phoenix. 

“Knighthead is committed to building something truly special and making an even greater impact across sport and community in this city - and cricket will play a vital part of that fabric.”

This year's Hundred competition runs from August 5-31.