The Hundred, England's premier short-form cricket competition, is set to return on Tuesday with a bang. But beyond the fireworks and live music, the real action will be in the hospitality suites, where the ECB aims to attract investors to its eight teams.
The ECB has rejected a significant offer from Bridgepoint Capital to buy a controlling stake in the Hundred and is now exploring alternative options. The governing body has launched 'Project Gemini' to develop a revamped Hundred, with external investors buying stakes in the teams by 2025.
The ECB has received interest from potential investors worldwide, including IPL and WPL franchise owners, NFL owners, and parties from Australia, South Africa, Pakistan, and the USA. The sales process will formally begin in September, with the ECB appointing Deloitte and the Raine Group as financial advisors.
The Hundred has a solid base, attracting strong crowds and support from broadcasters. However, it also faces challenges, including competition from other short-form leagues and the depletion of squads due to international commitments.
The ECB plans to expand the Hundred to two new franchises from 2029 and is seeking investors who will support English cricket as a whole. The process will involve a three-month evaluation of both financial and qualitative factors.
Some prospective investors have expressed frustration with the lack of clarity in the process, while others are concerned about the level of control they will have over their teams. The ECB is working to address these concerns and ensure that the sale process is transparent and fair.
The Hundred has been a catalyst for the growth of women's cricket in England and Wales, providing a platform for exceptional female athletes. The double-header model, featuring both men's and women's matches, is particularly appealing to prospective buyers.
The ECB believes that now is the right time to attract investment in the Hundred, as cricket is experiencing a global surge in popularity. The competition will face increased competition from other short-form leagues, and the ECB is keen to ensure that it remains a world-class tournament.
Tags: #TheHundred, #ECB, #CricketInvestment, #PrivateEquity, #SportsBusiness
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