Nottinghamshire County Cricket Club have announced that they have entered into an exclusivity agreement for a stake on the Trent Rockets team that takes part in The Hundred.

The significant stake in the Rockets sees Cain International (“Cain”) and Ares Management Credit funds (“Ares”) joining forces when ownership transfers to the club later this year.

In a press statement released today, Nottinghamshire CCC revealed the two interested parties in the investment for the Rockets.

READ MORE: British Waterways: Listed Nottingham building plans to be modified as major works start

READ MORE: Police release CCTV image after bag stolen in Nottingham city centre shop

Cain, a partnership between Jonathan Goldstein and Eldridge Industries, manages over $17 billion in AUM, with key investments in lifestyle and entertainment, including Aman, The St. James, Delano, Maslow’s Group, Prezzo, and Swingers. Goldstein also serves on the board of Chelsea FC.

Ares Management, a leading alternative investment manager with $484 billion in assets, brings extensive experience investing in sports, media and entertainment opportunities. This transaction expands Ares’ existing portfolio that includes global professional sports team investments in Inter Miami CF, McLaren Racing and Atlético de Madrid, among others.

They were chosen following an extensive sales process involving each of the eight teams in The Hundred, with around 100 parties signalling interest in securing a stake in one of the competing sides.

The two parties will now enter an eight-week period of exclusivity – at the conclusion of which, pending a satisfactory outcome of due diligence and legal checks, Cain and Ares will acquire a 49% stake in Trent Rockets. Nottinghamshire will retain the majority 51% stake.

“The experience of Cain and Ares in helping businesses in recreational and leisure sectors to grow, and their focus on delivering long-term benefits, made them an ideal fit for this investment,” said Nottinghamshire Chair Andy Hunt.

"The Hundred has been an undoubted success in Nottingham - welcoming a diverse audience, attracting some of the world's best players and delivering an experience for supporters that is unrivalled on these shores.

"This investment, alongside those in other competing teams, will both help to safeguard the future of our 18-county system and elevate The Hundred to ensure it is able to thrive as one of the finest competitions of its kind worldwide.”

Jonathan Goldstein, CEO of Cain International, said: "Cricket has long been a cornerstone of British sport, bringing communities together and creating moments that last a lifetime. Trent Rockets is a team with a strong heritage and an exciting future, and we’re thrilled to be part of that journey. We look forward to working with the team to build on its success and deepen its impact in Nottingham and beyond."

Mark Affolter, Co-Head of Ares' Sports, Media & Entertainment strategy, said: "As a global professional sports investor, Ares seeks exciting opportunities to work with teams like Trent Rockets that understand the history of the sport, the legacy of the team and the respect for fans. We believe Trent Rockets is well-positioned to capitalize on the exciting opportunities ahead, and we look forward to providing our support."

Trent Rockets are one of four teams to have secured silverware since The Hundred’s inception in 2021, with the men’s side claiming the title at Lord’s in 2022.

The tournament has attracted sell-out crowds to Trent Bridge – while a new record attendance of 10,693 for a women’s fixture at the venue was set last summer.

Trent Bridge has been officially recognised as offering the best spectator experience in the competition for the past two years.