Todd Boehly, the chairman and co-owner of Chelsea, has bought a 49 per cent stake in The Hundred franchise Trent Rockets. The investment values Nottingham-based Rockets — which encompass the English county clubs of Nottinghamshire, Derbyshire and Leicestershire — at around £79million ($97.73m).

Chelsea part-owner Todd Boehly is looking to buy a slice of another English sports team — this time in cricket.

Cain International (“Cain”) and Ares Management Credit funds (“Ares”) have together entered exclusivity to acquire a significant stake in The Hundred

Chelsea owner Todd Boehly has agreed to buy a 49% share in Hundred franchise Trent Rockets. Cain International, founded by American Boehly and British businessman Jonathan Goldstein, will pay just under £40m for the stake in the Rockets, valuing the entire franchise at £79m.

Nottinghamshire chair - The investment of nearly £40million will acquire a 49 per cent stake in the Hundred team

Exclusive: Nottinghamshire will retain controlling stake as Trent Bridge side become seventh franchise to be sold in auction process

Birmingham Phoenix, London Spirit, Manchester Originals, Northern Superchargers, Oval Invincibles, Southern Brave, Trent Rockets and Welsh Thunder all received big investment as total valuation approaches £1bn;