England Cricket Board has confirmed that they are in discussions with IPL and NFL owners for the investments in The Hundred competition.
Ahead of the Hundred 2024 competition, the England Cricket Board has initiated talks with IPL and NFL owners for the investment. The Hundred competition consists of Eight teams with each side having both Men’s and Women’s teams completely owned by the England board.
With many speculations that the ECB looking for private Investment in the competition, it has now been confirmed that the ECB is set to sell 49% stakes in the teams, while 51% share will be handed to the host of the eight teams which they can sell or keep.
In December 2022, the ECB received an offer from Bridgepoint Group to buy a 75% stake in the competition, but the board was not interested in the deal.
“Control comes at different levels, it comes at team level and it comes at competition level – that’s not something we are ceding control of,” said ECB chief executive Richard Gould.
“Different investor groups have different needs, for some, it is about control of what happens on the field, for others it’s the commercial element. You’re right about the strength of the Indian market – it represents probably 90 percent of the revenues coming into the ICC (International Cricket Council) and we have seen the proliferation of IPL teams moving outside of their home market into other national markets. I think that’s to be welcomed,” he added.
ECB director of Business Operations Vikram Banerjee spoke about the discussion he had with IPL and NFL owners. “I’ve now met and spoken to, a number of times, all the IPL owners and WPL (Women’s Premier League) owners that don’t overlap and there is interest there, from what they’ve told me, which is fantastic and lends into a very exciting process.”
“I would really hope we have a level of partnerships with some IPL teams, I think that would be brilliant. They have done a great job and know cricket very well.”
The NFL has also contacted to purchase a stake in The Hundred teams, however, the fact that the new owners cannot own a controlling stake of 51% could dissuade the potential investors.
“We have sent a document and video to some NFL owners to explain what cricket is,” Banerjee said. “In terms of fan engagement, how they can build stadia experience and bring in the next generation, those guys are amazing. We can bring that blend together.”
The major reason behind the ECB’s decision to sell the stake due to pressure built on the league by the emergence of Major League Cricket.
“We need to be able to ensure our best men and women players play and we can attract the best overseas players. If we were to delay too much I think others may end up stealing a march on us,” said Gould.
Other than the IPL and NFL owners, the Glazer family who owns Manchester United, Hollywood actor Ryan Reynolds’ Wrexham group, and Red Bull could be potential buyers in The Hundred teams. According to reports, the Share will be sold later this year, and the 2025 edition will have new investors.
Also Read: When Will England Players Feature in The Hundred 2024?
