The England and Wales Cricket Board is working on a mechanism to bring private investment into The Hundred, which will make it after the Indian Premier League the second-most valuable franchise league anywhere in the world. Given the same, earlier this week, the ECB posted offshore financial and legal advisors to structure and sell stakes in the eight Hundred teams to outside investors.
Earlier this month, 18 first-class counties in England and Wales gave their approval to the ECB’s move to sell parts of The Hundred franchises to private investors. In this regard, the apex body said that the sale of franchise stakes to private investors would see a syndicated financial windfall in various parts of the country. The mooted model would see the ECB keep 51% of all The Hundred franchises, shared with the host counties hosting the teams free of charge. The decision to keep part or all of the shares may, however, remain at the counties’ discretion.
“We’ve identified this [as] the moment to take The Hundred to the next level but also to monetize the global interest in the competition to underpin the structure of the whole domestic game. Adopting new global strategic partners will help us unlock the future potential of The Hundred,” he said in an ESPNcricinfo report.
The ECB has agreed to sell the remaining 49% of its shares. Escape, including a portion of the profits for the re-entry investment back into the grassroots of cricket, with the other destined for the counties, was agreed by commentators. Speaking to the press, ECB director of business operations Vikram Banerjee said it was a strategic opportunity that would drive The Hundred even more significant, using international interest to support the remainder of domestic cricket.
In this regard, Raine Group has engaged Deloitte, Latham & Watkins, Onside Law, and others, overseeing the investment process and partnering with potential associates capable of attracting business value to The Hundred. For the ECB and its county boards, the ambition is to have taken all of these private investment agreements over the line by the start of the 2025 season.
“This is our opportunity window not just to take The Hundred to another level but to use its global appeal as a foundation to put the structures in place for the whole domestic game. We’ll be able to tap new global strategic partners to help us unlock its future potential,” said ECB director of business operations Vikram Banerjee through ESPNcricinfo.
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