ECB Seeks Investment from IPL and NFL Owners for The Hundred
The England and Wales Cricket Board (ECB) has confirmed that it is exploring investment opportunities from Indian Premier League (IPL) and National Football League (NFL) owners for its 100-ball-per-side tournament, The Hundred. The competition, which runs from Tuesday until August 18, features eight teams, each comprising a men’s and women’s team.
Private Investment for The Hundred
The ECB is willing to sell a 49% stake in the eight teams while retaining a 51% share, which will be allocated to the host of each team. This approach ensures the ECB maintains control of the competition while providing opportunities for private investment. This decision follows a rejected offer in December 2022 from Bridgepoint Group to buy a 75% stake in the tournament.
Interest from IPL and NFL Owners
ECB chief executive Richard Gould emphasized that while control of the competition is non-negotiable, different investor groups have various interests, such as on-field activities or commercial elements. Gould noted the significant revenue generated by the Indian market and the expansion of IPL teams into other national markets, which is viewed positively.
Vikram Banerjee, ECB director of business operations, mentioned having multiple discussions with IPL and WPL owners, noting substantial interest. Additionally, NFL owners have been approached, though the inability to own a controlling 51% stake might deter some potential investors.
Reasons Behind the Stake Sale
The primary motivation for selling stakes is the pressure from emerging leagues like the USA’s Major League Cricket (MLC). With the proliferation of T20 leagues worldwide, retaining top players has become challenging for The Hundred. Partnering with IPL team owners could mitigate this issue.
Moreover, the ECB aims to inject more funds into domestic cricket. Ten percent of the revenue from the stake sales will be invested in recreational cricket in England and Wales, with the remainder distributed among the 18 first-class counties and the Marylebone Cricket Club (MCC).
Potential Buyers and Future Changes
Potential buyers include the Glazer family, Hollywood actor Ryan Reynolds’ Wrexham group, and Red Bull. These stakes are expected to be sold later this year, with new investors joining in the 2025 season. The new investors will have the liberty to change the names and colors of their teams.
Hosts of The Hundred Teams
The eight hosts for The Hundred teams are:
- Lord’s (MCC/London Spirit)
- The Oval (Surrey/Oval Invincibles)
- Southampton (Hampshire/Southern Brave)
- Cardiff (Glamorgan/Welsh Fire)
- Trent Bridge (Nottinghamshire/Trent Rockets)
- Edgbaston (Warwickshire/Birmingham Phoenix)
- Old Trafford (Lancashire/Manchester Originals)
- Headingley (Yorkshire/Northern Superchargers)
The 11 non-host counties are expected to receive a significant portion of the revenue generated from the sale of stakes in the tournament.(cricket betting tips)