Knighthead Capital Management completed the acquisition of a 49% stake in Birmingham Phoenix from Warwickshire County Cricket Club and ECB.

Knighthead Capital Management, a US investment firm, completed the acquisition of a 49% minority stake in Birmingham Phoenix, a franchise in cricket’s The Hundred competition, from Warwickshire County Cricket Club and ECB for £40m. “We are excited to invest in Birmingham Phoenix. The Hundred represents a significant growth opportunity,” Tom Wagner, Knighthead Capital Management Co-founder.