Birmingham City owners Knighthead Capital Management are among the interested parties in next week’s sale of 49 per cent of eight of teams that compete in cricket’s short form Hundred series, according to reports.

American firm Knighthead, led by Blues chairman and owner Tom Wagner, were linked with move for the Birmingham Phoenix franchise that plays in The Hundred last summer, but Birmingham Live was informed at the time that there were no plans to explore the opportunity.

But according to a report in The Guardian on Wednesday, Knighthead are among the private equity firms that are set to take part in the auction of the sale of a minority stake in each of the teams in London next week, with Chelsea co-owners Todd Boehly and Clearlake Capital also readying different bids, while Indian billionaire Mukesh Ambani is also set to be in the race for the 49 per cent of the London Spirit with 'bids' made.

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The investment potential of short-form cricket is something that investors have been keen on for some time, with heavy interest in acquiring stakes in teams in the Indian Premier League in recent years. Some IPL sides are expected to be in the running to bid on taking stakes in Hundred franchises.

According to The Guardian, teams have until the end of January to name their two preferred bidders in order of preference, with the process then passed over into the hands of the England & Wales Cricket Board (ECB) and Raine Group, the New York-based merchant bank which handled the full sale of Chelsea to Boehly and Clearlake in 2022, and the purchase of a minority stake in Manchester United at the end of 2023. The ECB and Raine will then assess the available options and match teams with part-owners.

The most valuable franchise is, unsurprisingly, expected to be the London Spirit, with suggestions that the price could reach north of £100m for the successful bidder.

Upon completing a takeover of Blues in 2023, Wagner outlined his aims and objectives with the club's St Andrew's Stadium selling out weekly amid plans for a new ground nearby at the former Birmingham Wheels site.

"The plans for the stadium have just begun," Wagner said. "There is quite a bit more we can do. And we'll be here as often as we can be to support the club but also to ensure the objectives we set are being met. This is not my last game of the season.

"What's beginning to happen with Birmingham is a significant period of regeneration and growth. Investment is coming in. "We're receiving enormous in-bound interest from parties who want to partner with us. That spells good news for everyone in Birmingham, not just this team."

Birmingham Live have contacted Knighthead for comment.