Cricket

The Hundred, England's innovative 100-ball cricket tournament, is poised to undergo a significant transformation as it embarks on a three-round bidding process to attract private investment through the sale of franchises. The England & Wales Cricket Board (ECB) has received expressions of interest from over a hundred parties, including high-profile individuals and established cricket franchises.Hollywood actor Ryan Reynolds, co-owner of Wrexham football club, has expressed interest in acquiring the Welsh Fire team. Nine Indian Premier League (IPL) franchises, including Mumbai Indians, Delhi Capitals, and Kolkata Knight Riders, are also keen on securing a stake in The Hundred.Mumbai Indians, known for their global expansion strategy, have been in discussions with both The Lord's (London Spirit) and The Oval (Oval Invincibles). The GMR group, co-owners of the Delhi Capitals, are interested in the Southern Brave franchise after their recent acquisition of Hampshire Cricket.Birmingham (Birmingham Phoenix) and Leeds (Northern Superchargers) are attracting interest due to their strong Indian diaspora. Rajasthan Royals, co-owned by Manoj Badale, who is based in England, is also expected to make a bid.Lucknow Supergiants owner Sanjeev Goenka is in talks with Avram Glazer, a shareholder in Manchester United and Tampa Bay Buccaneers, who is seeking a stake in The Hundred.The ECB's decision to privatize The Hundred is aimed at raising investment and ensuring its long-term financial sustainability. The bidding process is expected to provide clarity on the level of Indian involvement in the tournament, as several IPL franchises are eager to expand their global presence.

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.

The England and Wales Cricket Board (ECB) has initiated discussions with Indian Premier League (IPL) owners regarding the acquisition of a stake in the domestic Hundred competition. The Hundred, a controversial tournament featuring eight specially created teams with both men's and women's sides, is entering its fourth edition.The ECB seeks to secure private investment to strengthen the Hundred's position in the global calendar and enhance the financial stability of domestic cricket. The board aims to sell a 49% stake in each team to private investors, while host teams retain the remaining 51%. However, host teams may consider selling part or all of their shares.ECB chief executive Richard Gould emphasized that the board will retain control of the competition, despite the potential for private investment. He acknowledged the strength of the Indian market and welcomed the expansion of IPL teams into other national markets.The cash-rich IPL has transformed the global cricket landscape, providing players with lucrative opportunities outside of traditional Test matches. IPL owners, such as the Ambani family of the Mumbai Indians, may be interested in acquiring full control of a Hundred team.Vikram Banerjee, the ECB's director of business operations, confirmed that he has engaged in discussions with IPL owners. He also expressed interest in potential partnerships with American Football's NFL, citing their expertise in fan engagement and stadium experiences.The ECB's goal is to combine the strengths of IPL teams and NFL owners to enhance the Hundred's appeal and attract a new generation of fans. The board believes that such partnerships can contribute to the long-term success of the competition.

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.

Sam Billings, the captain of the Oval Invincibles in The Hundred, has emphasized the importance of equitable revenue distribution from the proposed sale of stakes in Hundred teams to private investors. He believes that the larger clubs have a moral obligation to ensure the prosperity of all 18 first-class counties.The ECB and the counties have reached a consensus on selling stakes in the eight Hundred teams later this year. However, the distribution of funds remains a contentious issue. The 11 counties without Hundred teams are seeking independent counsel to guarantee a fair deal from the seven hosting counties and MCC.Billings, who led Kent for six years before joining the Invincibles, believes private investment could revitalize county cricket. However, he expresses concern that it could exacerbate financial disparities between larger and smaller counties if the distribution of funds is not equitable."The Hundred is here to stay," Billings stated. "If the money that comes into the game is used wisely, it could benefit everyone and revitalize county cricket."Billings emphasizes his deep connection to Kent and his desire to repay the club that has supported him throughout his career. He views the Oval Invincibles as a joint venture between Surrey and Kent, with both counties contributing to its success."It has to be a relationship between all parties, and it just has to be fair," Billings said. "Kent has produced a remarkable number of England cricketers recently. If we don't invest in that, it could be very worrying for the overall picture."The latest proposals grant the seven host counties and MCC 51% of the shares in their respective Hundred teams. They will then decide how much, if any, of those shares they wish to sell. Surrey's chairman, Oli Slipper, has expressed a desire to rename the Hundred team 'Surrey Invincibles' if they become majority owners.Billings strongly opposes this move. "That just shouldn't happen," he said. "Surrey is a fantastic club, but they have a moral responsibility to uplift others who need it more."Kent's bid to host a 'Tier One' women's team from 2025 was recently rejected by the ECB. Billings believes that a significant dividend from the sale of Hundred teams could help Kent invest in facilities at Beckenham, their second home ground."Beckenham has great potential for both the male and female game," Billings said. "We have a large local catchment area and it's a great opportunity for Kent."

Sussex chairman Jon Filby has dismissed the notion of a breakaway league by the Hundred-hosting counties as "completely not to be feared." The ECB and the 18 first-class counties have been engaged in discussions regarding changes to the Hundred's ownership model, with a proposal to open up the eight teams to private investment.However, the counties have yet to reach an agreement on revenue sharing. The ECB initially requested a decision by May 10, but the non-host counties are seeking independent advice, potentially delaying the process. Filby emphasized the importance of thorough due diligence before making a decision.Despite concerns raised by ECB chief executive Richard Gould about losing momentum, Filby expressed confidence in reaching a deal. He acknowledged the need to capitalize on the Hundred's upcoming season as a showcase for the competition.The prospect of a breakaway league has been raised, but Filby believes it is unlikely. He questioned the viability of such a league, given the lack of opposition and player availability.The non-host counties are reportedly seeking a fair distribution of revenues, with Filby stating that they will not be rushed into a decision. He emphasized the need for a clear position before the Hundred's season concludes.The discussions over the Hundred's future have highlighted the growing influence of the top counties in English cricket. Leicestershire chief executive Sean Jarvis has compared the situation to the Premier League in football. However, Filby believes that the non-host counties should remain firm in their negotiations.