Richard Thompson and ECB. (Source – Twitter/X)
The England and Wales Cricket Board (ECB) leaves no stone unturned to bring substantial profit for its brainchild, The Hundred League. To do this, the board invited several Indian Premier League franchises to stake claim in the one-of-a-kind league. ECB’s chairperson, Richard Thompson, aims to raise at least £350 million in the Hundred’s sales process.
Thompson believes that if the ongoing discussion on the deals is signed off early next year, the board will “comfortably” achieve the set target. It is worth noting that the ECB is offering up to 49 per cent in franchise stake, even for the IPL franchises interested in buying, to maintain the majority of the say in the matters.
The same is true for the ECB, which turned down Bridgepoint, a private equity group’s offer to buy the majority of the stakes in the league to have a stronghold in the tournament. Regarding the interested parties with respect to the potential deal signings, Thomson was astonished at the response from the different entities.
Also Read: MI, CSK, KKR among others IPL teams bid for The Hundred franchises
“Our target was to raise £350 million from sales. I think we’re going to exceed that comfortably, but we’ve still got some way to go. I think all of us have been genuinely shocked by the quality and quantity of interest. There’s hardly anyone in sport that isn’t at the table,” said Thompson as quoted by ESPNcricinfo.
This process presents a once-in-a-generation: Richard Gould
The Department of Culture, Media and Sport (DCMS) had questioned the ECB over the sales details of the Hundred. ECB Chief Executive, Richard Gould defended the questions raised by the department chaired by Caroline Dinenage over the questions of the league’s impact on English Cricket.
“This process presents a once-in-a-generation opportunity for a significant capital injection into cricket in England and Wales. It is a rare moment when we have the collective power to ensure that these funds are utilised fully in ways that will provide long-term financial sustainability for the whole game,” Gould wrote.