Ryan Reynolds and Rob McElhenney’s potential investment in Welsh Fire could be a “huge opportunity” for cricket in Wales, according to Glamorgan chief executive Dan Cherry.

Reynolds and McElhenney, the Hollywood stars who have transformed the fortunes of Wrexham Football Club as its co-owners, have held talks about buying a stake in Welsh Fire, The Hundred cricket franchise based in Cardiff.

Those negotiations are part of a wider effort from the England and Wales Cricket Board (ECB) to sell 49% stakes in each of the eight Hundred franchises, which the ECB hopes will raise about £500m.

Glamorgan hold a 51% stake in Welsh Fire and, if Reynolds and McElhenney were to turn their interest into firm investment, the county hope they could “grow the brand globally” as they have done with Wrexham.

“I think it’s a great opportunity financially for us to be able to invest back into the stadium here at Sophia Gardens, into the team at Glamorgan… and build the game in Wales recreationally, support the great work that Cricket Wales, our partners, are doing on that front,” Cherry told BBC Sport Wales.

“It gives huge opportunity to the game to expand its footing and to grow it, as we’ve seen with The Hundred, with lots of great crowds, family crowds coming in. I think it can inspire the next generation of players to pick up a bat and ball.

“We want the best deal in the interest of Glamorgan County Cricket Club. We’re very keen on protecting and making sure that we can sustain our club here in Cardiff, and we want to grow Welsh Fire as a brand globally.”

Reynolds and McElhenney are part of an investment group that owns stakes in Mexican football side Necaxa and the Alpine Formula 1 team, so becoming involved in cricket would add another arm to their sporting portfolio.

The ECB has cast its net wide in courting interested parties to buy stakes in Hundred franchises, speaking to every team owner in the Indian Premier League (IPL) and Women’s Premier League (WPL), plus owners of teams in the NFL – as well as private equity funds.

The eight hosts of The Hundred teams have been given a 51% stake, which they can sell or keep, but the remaining 49% in each franchise will sold by the ECB.

When IPL owners have bought teams in other franchise leagues – such as South Africa’s SA20 – it has often resulted in name changes and the expectation is The Hundred will be no different.

It has been reported some potential investors would want more than a 49% stake in order to have more control, and Cherry says Glamorgan will not “rule out anything” during negotiations for Welsh Fire.

“We’re open-minded about our 51% and about control, and I think we’d be open to having discussions with the right partner to see what that would mean for the future,” he added.

“I think different deals have been staged in sport. I think the Jim Ratcliffe one at Manchester United is an interesting one, where he’s taken a kind of lesser stake, but he’s taken on control of the football operations at the club.

“So once we find the right bidder and we get around the table, that conversation will take place and we’ll see what works for both parties. I wouldn’t rule out anything moving forward.”