England Cricket Board. (Photo Source: X(Twitter)
The England and Wales Cricket Board (ECB) previously announced that they have opened the process to privatize the eight teams featuring in The Hundred. The goal was to finalize it by the start of the next edition but as per Vikram Banerjee, director of business operations at ECB, it will take some time for them to find the right partners, who would not only bring in money but also their expertise to the table.
Notably, each of the counties featured in The Hundred has 51% of the stake – which they can either hold onto or sell it for money. ECB holds the other 49%, which they are looking for buyers for. The money that they will generate by selling the 49% stake will then be distributed between first-class counties, Marylebone Cricket Club, and the recreational game, as per ESPNcricinfo.
“The most important thing is we get the right partners. If that takes a bit of time, that takes a bit of time. I think it’s fine. We have been running for four years and so, if in this first round, we [find that] either the values aren’t there for one or all of the teams, or the right partner isn’t there for one or all of the teams, it’s fine. We’ll just carry on running it, we’ll do another year. My priority is to get the right partners and make them amazing and help us grow,” Banerjee told the Business of Sport podcast.
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“But if we don’t get the right partners for [eg] London Spirit, we’ll hold it and we’ll work with the MCC for another year and try again in a year’s time. I think that’s possible. Having said that, in terms of a timeline on what we’re looking for, we are hoping these are done over the next six months so that whatever this new world looks like for the competition, those deals have transacted by the 2025 season,” he added.
Meanwhile, in August, The Telegraph reported that GMR group, co-owners of Delhi Capitals, agreed to a £120 million deal to buy Hampshire, which would also see them own 51% of Southern Brave. However, it’s still not made official. As per reports, the ECB had multiple discussions with foreign investors. Apart from the GMR group, the Sun group, which owns Sunrisers Hyderabad in the IPL, is currently in talks to own Northern Superchargers.