ECB Unveils Plans to Sell Stakes in The Hundred Teams
The England and Wales Cricket Board (ECB) has announced plans to sell stakes in the eight teams participating in the Hundred tournament, aiming to propel the competition to new heights. According to the announcement made on May 30th, 2024, the Raine Group and Deloitte have been appointed to advise on the sale of these stakes.
Under the proposed arrangement, the eight host clubs – Glamorgan, Hampshire, Lancashire, Nottinghamshire, Surrey, Warwickshire, Yorkshire, and MCC – will each retain a 51% stake in their respective teams. These host clubs will have the freedom to sell or maintain whatever proportion of their stake they deem fit.
The ECB will sell the remaining 49% stake, with 10% being allocated to the recreational game and the first £275m of the proceeds shared among the 18 first-class counties and MCC. The subsequent £150m will be distributed among the 11 non-host counties, and any earnings beyond that will be divided equally among all 19 counties.
“We have identified this moment as the opportunity to take The Hundred to the next level while capitalizing on the global interest of the competition to underpin the structure of the whole domestic game,” stated Vikram Bannerjee, the ECB’s director of operations.
This strategic move by the ECB aims to inject new investments and resources into the Hundred, a tournament that has faced its fair share of controversies since its inception. The sale of stakes to private investors is expected to enhance the tournament’s financial stability and global appeal, ultimately benefiting the broader domestic cricket ecosystem in England and Wales.
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