Richard Thompson, the ECB’s chair, has distinguishable a goal to lift no less than £350 million within the Hundred’s gross sales procedure – a goal that he believes the board will surpass “comfortably” when do business in are signed off early later occasion.
The ECB are promoting 49% stakes in each and every of the 8 groups within the Hundred, which might be changed into franchises and can to begin with be run as joint-ventures with host counties (or, in terms of London Spirit, MCC). The gross sales procedure introduced in early September and has stepped forward into the second one of 3 rounds, with a last goal time limit in January 2025.
Thompson mentioned latter date that the lake of potential traders used to be “way broader and bigger” than the Raine Workforce – the United States funding attic who’re working the method – had expected. The ECB have now not in the past dedicated to a projected determine from the sale in folk, however Thompson has now distinguishable that £350 million is obvious because the minimal goal.
“Our target was to raise £350 million from sales,” Thompson instructed Town AM. “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 over the quality and quantity of interest… There’s hardly anyone in sport that isn’t at the table.”
The ECB have been puzzled latter year by means of the Section of Tradition, Media and Recreation (DCMS) choose committee at the sale of the Hundred. government Richard Gould answered in writing to a letter from the committee’s chair Caroline Dinenage and defended the sale then questions round its most probably affect on English cricket.
“This process presents a once-in-a-generation opportunity for a significant capital injection into cricket in England and Wales,” Gould wrote. “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 additionally distinguishable that the ECB will quickly determine a ‘Hundred committee’ designed to “lead, scrutinise and monitor the administration, operation and commercialisation” of the contest. Its contributors will include ECB non-executive administrators, representatives from the franchises and detached appointments.
