- ECB Explores Private Investment Opportunities for The Hundred, Including Engagement with IPL Franchises and Equity Firms.
In a strategic move to strengthen the financial standing of English cricket, the England and Wales Cricket Board (ECB) is actively seeking private investment from IPL franchises, private equity firms, and sovereign wealth funds for ‘The Hundred.’ The current model, with eight clubs solely owned by the ECB, is set for a potential overhaul, with discussions ongoing since the conclusion of the 2023 season. The decision on the new model is anticipated in April 2024, following a comprehensive three-part consultation period, allowing sufficient time for implementation before the 2025 edition.
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The ECB views private investment as a key avenue to infuse capital into English cricket. Guy Lavender and Bruce Carnegie-Brown, MCC’s chief executive and chair, revealed that the ECB is in talks with a diverse array of potential investors, including IPL franchise owners, private equity firms, and sovereign wealth funds. Members of the Marylebone Cricket Club (MCC) were urged to participate in discussions regarding potential investors with whom they would be comfortable forming partnerships.
The proposed changes to The Hundred include the addition of two new teams and a transformation of clubs into franchises, with primary host counties holding a 50% stake. The ECB is also contemplating the introduction of an 18-team ‘open pyramid’ structure, featuring a second division with promotion and relegation mechanisms. These changes aim to enhance the tournament’s competitiveness and attract star players by potentially increasing player salaries.
It’s noteworthy that The Hundred is guaranteed to run for at least five more years under the current broadcast deal with Sky Sports. To gain approval for changes to the tournament’s model, a three-quarters majority among the 18 first-class counties and MCC is required. The discussions are still in the early stages, and proposals are subject to further refinement.
As the ECB charts a new course for The Hundred, these developments signal a proactive approach to secure the tournament’s financial sustainability and global appeal. The infusion of private investment and the potential shift to a franchise model mark a significant step in aligning English cricket with the evolving landscape of modern sports leagues.
