Tag: PrivateInvestment

The England and Wales Cricket Board (ECB) is seeking private investment for its Hundred franchises, but the process may extend beyond the initial target of 2025. Vikram Banerjee, director of business operations at the ECB, emphasized the importance of finding the right partners and valuations.

Each of the eight hosting counties holds a 51% stake, with the remaining 49% available for sale by the ECB. The proceeds will be distributed among first-class counties, Marylebone Cricket Club, and the recreational game.

The ECB is collaborating with host venues to assess potential investors, including GMR Group, which has expressed interest in acquiring Hampshire’s stake in Southern Brave. However, the governing body has warned Hampshire that it could lose its stake if GMR does not pay a fair market price.

The ECB has received promising interest from investors, including those from India and the US. The board seeks buyers who can contribute expertise in global engagement, sporting operations, and in-ground experience.

While the plan is to announce investments by early 2025, Banerjee acknowledged that the process could take longer. He did not rule out a partial sale, but believes the current level of interest suggests that all teams will find suitable partners.

London Spirit is expected to be the most sought-after franchise due to its prestigious venue, Lord’s. However, the ECB will not rush into a decision and will hold onto teams if the right partners are not found.

The Hundred’s current media rights are fixed until 2028, and a salary cap ensures a level playing field. Expansion of the competition to include additional teams is unlikely before 2029, as the ECB wants to assess the growth and sustainability of the tournament.