More than six Indian Premier League franchises have shown interest to own a stake in the 100-ball cricket league, known as The Hundred, which is administered by the England and Wales Cricket Board (ECB). Friday, October 18, is when a deadline for bids was put out for the first round, with most of the interests from the franchise owners of IPL. The ones that have bid according to Cricbuzz already include teams like Chennai Super Kings, Sunrisers Hyderabad, Lucknow Super Giants, Mumbai Indians, Kolkata Knight Riders, and Delhi Capitals. The other two teams that submitted their bids include Rajasthan Royals and UP Warriorz, a Women's Premier League team. It is the second team owned by Capri Global Group, which is based in Dubai. Lancer Capitals - one of the co-owners of Manchester United and owner of Desert Vipers in the newly launched ILT20 also is said to have submitted a bid. Royal Challengers Bengaluru, owned by British company Diageo, has not participated in the process and Punjab Kings also not submitted a bid. Gujarat Titans is owned by CVC Capital, and there is no confirmation if they have placed a bid. CVC Capital does have a UK office. Nick Clarry is operations head for Gujarat Titans and comes from London. This might make them a possibility. Also Read | ICC Investigates Zim Afro T10 For Match-Fixing Activities This is merely the first round of bidding, and investors need not choose one of the eight teams yet. This will happen in the second round after the auction held by the IPL. The ECB hopes that the franchise valuation could be between £75 million and £100 million. At present, the ECB has 100% of The Hundred and its teams in their books but plans to sell at least 49% of each team. Investors would be asked to invest anywhere from £40 million to £50 million to buy a 49% stake in each team. The remaining 51% would stay with the involved counties; however, investors have the option to buy some or all of this stake in the future. IM's relevant part says: "ECB then plans to gift its remaining stake in each of the teams to their respective hosts, creating a lasting partnership between new investors and some of the world's iconic cricket institutions. As a part of this process, hosts will also have an option to sell a portion of their equity in the teams to the new investors to provide a path to a control position."