Warwickshire County Cricket Club has formally announced Knighthead Capital Management LLC as the preferred private investor for a minority stake in The Hundred franchise, Birmingham Phoenix.
Knighthead was chosen to move forward with exclusive negotiations following an extensive due diligence process and competitive bidding round involving multiple international businesses and individuals.
Recognized for its strategic investments in global sports and infrastructure, the New York-based firm will now enter an eight-week exclusivity period with the Club and the ECB to finalize legal agreements.
Subject to completion, Knighthead will acquire a 49% minority ownership stake in Birmingham Phoenix.
The latest negotiations reinforce Knighthead’s expertise in global sports investments and its deep-rooted commitment to Birmingham.
With a controlling stake in Birmingham City FC and plans to develop a sports quarter, Knighthead continues to expand its footprint and strengthen its investment in the city.
Warwickshire CCC Chief Executive Stuart Cain said there is strong synergy between the Club and Knighthead.
He added: “We’re both passionate about high performance sport, the communities we serve, and share a clear vision of where we see this partnership going and the benefits it can bring.
“Throughout the process Knighthead demonstrated a strong financial commitment and a deep understanding of what it takes to elevate high-performance sport. They have far-reaching global influence that will help us promote Birmingham Phoenix to cricket and sport fans around the world and a wealth of sports investment experience.
“We’d said at the start of this process that we wanted an investor committed to invest in the region and be with us for the long term, to make a real difference.
“I believe we’ve found that in Knighthead and we look forward to working with them during this exclusivity period.”
Tom Wagner, Co-Founder and Co-Managing Member of Knighthead, said, “We are excited to enter exclusive negotiations with Warwickshire CCC and the ECB to invest in Birmingham Phoenix.
“The Hundred represents a significant growth opportunity, and we look forward to providing our resources and expertise to enhance Birmingham’s status as a world-class sporting destination.”
The announcement marks another milestone in The Hundred’s growth trajectory. Since its inception, the competition has successfully introduced new audiences to cricket, driven commercial revenue, and played a transformational role in advancing the women’s game.
Birmingham Phoenix has built a diverse and engaged fan base, with nearly a quarter of attendees at Edgbaston under the age of 16.
Additionally, nearly a third of its fans are women, and the club boasts one of the most ethnically diverse crowds in English cricket.
Through The Hundred’s community initiatives, Birmingham Phoenix has also connected with thousands of people and schoolchildren across the region, reinforcing its role as a central pillar of Birmingham’s sports culture.
Birmingham Phoenix’s 2025 campaign gets underway this summer with one of the biggest games in The Hundred fixture schedule – a fiercely fought derby against local rivals Trent Rockets.
The men’s and women’s sides will meet at Edgbaston on 8 August for a Friday night double header under the lights.
It’s the first of four home games for the Phoenix, followed by the visit of Oval Invincibles on Tuesday 12 August, London Spirit on Sunday 17 August, and Welsh Fire on Friday 22 August.
2025 Membership
It’s an historic year for the Club in 2025, as Bears Men and Women will compete side-by-side. Bears together.
Join the journey with Memberships available, including 1882 Full Club (all domestic cricket), our new B5 White Ball (T20, 50-Over and The Hundred) and Junior Bears (U16s).
