As The Hundred returns for its fifth year this August, familiar debates about its merits and flaws will return, however, the conversation is shifting. Private investment has entered the competition on a major scale. Stakes in six of the eight teams have already been sold with the majority of investment coming from global cricket heavyweights in the Indian Premier League, such as, the GMR Group's 49% acquisition of Southern Brave. In the short term, the number of teams will remain the same until at least 2028, but change is already in motion: Potential rebrands — Several franchises are expected to align their identities with global sister teams. Rising salaries — Top men’s player pay has jumped 60% to £200,000, while leading women’s salaries are up 30% to £65,000, with investor influence potentially driving further increases to attract world-class talent. Format and scheduling debates — New owners may push for a switch from the 100-ball format to the globally popular T20. Women’s cricket evolution — Double-headers have been standard since 2021, but the ECB is now exploring standalone women’s fixtures with the goal of drawing full-capacity crowds within a few years. The England & Wales Cricket Board (ECB) will retain control over competition regulations, but a new governing board, including investor and county representatives, will influence player recruitment, salaries, and the draft system, potentially replacing it with an IPL - Indian Premier League India style auction. These changes present both opportunities and challenges for franchises: to harness global investment for community impact, to innovate fan engagement, and to ensure the growth of the women’s and men’s games remains balanced. The next few seasons will determine whether The Hundred evolves into a truly global competition or will it risk losing the distinct identity it has built since 2021?