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LONDON — The auction process selling stakes of franchises in English cricket competition The Hundred has concluded with a deal for 49% of Southern Brave by GMR, the co-owner of Delhi Capitals in the Indian Premier League. GMR agreed to pay a reported fee of nearly 50 million pounds ($62 million). That has taken the amount paid for stakes in the eight franchises to over $620 million. The England and Wales Cricket Board reportedly had a target of raising a total of $435 million from the auction but is set to comfortably exceed that. It was helped by a major deal for London Spirit, bought by a billionaire tech consortium for a reported price of $180 million.
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