ECB Opens Process For Securing Private Investment In The Hundred
Wales Cricket Board: The England & Wales Cricket Board (ECB) said on Friday that it has opened the process for securing private investment into the eight teams competing in The Hundred.
Of late, there have been various reports claiming that several franchise owners in the Indian Premier League (IPL), as well as from USA’s National Football League (NFL) are seeking to buy stakes in the teams playing both men’s and women’s competitions in The Hundred.
While the host teams will keep a 51 per cent stake, the remaining 49 per cent in each side is up for private investment by the ECB. Oval Invincibles and London Spirit won the 2024 Hundred finals in men’s and women’s categories at Lord's on August 18.
Other teams playing in The Hundred include Birmingham Phoenix, Trent Rockets, Welsh Fire, Southern Brave, Northern Superchargers and Manchester Originals. Announcements of investment into The Hundred are expected to be made in 2025. Deloitte and the Raine Group are serving as co-lead financial advisers, while Latham & Watkins and Onside Law LLP have also been engaged as legal co-counsels.
"With the competition now thriving, incoming investors will act as strategic partners for its future success, bringing best-in-class knowledge and expertise to grow the popularity of The Hundred with fans and players around the world.
"Over the coming months, the ECB will work collaboratively with the host County Cricket Clubs to assess the suitability of prospective partners, their values and their ambitions for the team of interest, as well as the wider competition.
"The proceeds from the sale will be shared across the recreational and professional game, securing its long-term financial sustainability across England and Wales and upholding the growth of women’s cricket and the grassroots game," said the ECB in a statement.
In 2024, the one million landmark for fans attending The Hundred women’s competition was passed and the competition once again broke the global record for total attendance at a women’s cricket competition, with 320,000 fans in attendance this year alone.
Records were also broken for women’s attendances at seven of the competition’s eight venues – Emirates Old Trafford, Headingley, Sophia Gardens, Utilita Bowl, Trent Bridge, The Kia Oval and Lord’s.
In total, 540,000 tickets were sold for The Hundred’s fourth year, with 31% of those fans women, 23% juniors, and 41% families. Of those ticket-buyers in 2024, 30% were new to cricket and, across the four years of the competition, The Hundred has welcomed over 400,000 junior ticket-holders through its doors.
"Since announcing our intent to launch this process, we’ve received a phenomenal level of interest from a diverse mix of investors globally. Our priority over the coming months will be to select partners that share our passion and vision for the future of The Hundred, with expertise to take the competition to the next level.
"Whether that's through creating unforgettable matchday events, engaging new fans, enhancing international awareness of the competition, or other areas. This marks the most significant private investment opportunity in the history of cricket in our country and there’s never been a better moment for partners to engage with our sport.
"Cricket’s global appeal continues to soar and in England and Wales we’ve seen engagement with the sport hit record levels. We are excited about the future of The Hundred and the opportunity we have to build an iconic competition for players and fans, while underpinning the long-term growth of the domestic game,” said Vikram Banerjee, ECB Director of Business Operations, who is leading the process on behalf of the board.
"Whether that's through creating unforgettable matchday events, engaging new fans, enhancing international awareness of the competition, or other areas. This marks the most significant private investment opportunity in the history of cricket in our country and there’s never been a better moment for partners to engage with our sport.
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Article Source: IANS