MCC Members to Vote on London Spirit Stake in The Hundred

Marylebone Cricket Club (MCC) is seeking member approval for its proposed 51% stake in the London Spirit franchise of the Hundred. The club's committee has expressed support for the ECB's plan to attract private investment in the tournament's eight teams.

MCC's chief executive, Guy Lavender, outlined the committee's position in a letter to members. He emphasized the potential for the Hundred to grow the men's and women's game. While some hosts may sell part or all of their stake, MCC intends to retain its majority ownership.

However, MCC has made it clear that member approval is crucial. An SGM will be held on September 9 for members to vote on the club's acceptance of the 51% equity share. The results will be announced a week later.

MCC will retain the right to veto any potential minority shareholder in London Spirit. Lavender stressed that the decision is not about accepting the highest bidder but finding a partner who aligns with MCC's values and expertise.

The London Spirit franchise is expected to be the most valuable due to its association with Lord's. Andrew Umbers, co-founder of Oakwell Sports Advisory, believes the scarcity premium of the two London teams makes it a lucrative investment.

Other Hundred-hosting counties are evaluating their positions on the competition's future. Hampshire is a private club, but the remaining six counties have not yet publicly committed to giving members a direct vote on the Hundred's privatization.

MCC's decision to seek member approval has been praised by the County Cricket Members Group. Coordinator Alan Higham believes it demonstrates the club's recognition of the significance of the decision for the game as a whole.

Tags: #MCC, #TheHundred, #LondonSpirit, #PrivateInvestment, #Cricket