The ECB (English Cricket Board) officials are in talks with IPL team owners about a potential acquisition of shares in the Hundred competition’s teams.
The Hundred is a tournament where eight teams compete in a 100-ball format where both men’s and women’s teams compete. Tuesday will mark the start of the fourth edition of this competition. However, the future of this league is not looking convincing.
Because the England and Wales Cricket Board (ECB) is actively looking for private financing to support local cricket financially and to guarantee the Hundred’s place in the international calendar.
The ECB wants to find a middle ground between bringing in money and maintaining oversight of the competition by giving private investors a 49 percent share in each squad; the host teams would keep the remaining 51 percent of the shares.
Richard Gould, the ECB’s chief executive, emphasized that although teams may decide to sell some or all of their interests, the governing body is not giving up control of the competition itself.
“Control comes at different levels; it comes at team level and it comes at competition level—that’s not something we are ceding control of,” Gould told reporters during the conference.
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The cash-rich IPL, a multi-million-dollar extravaganza, driven by India’s enormous cricket fan base, has transformed the sport’s worldwide scene. To have a successful career, players no longer have to put up with the rigors of five-day international Test matches.
“Different investor groups have different needs; for some it is about control of what happens on the field, for others it’s the commercial element. You’re right about the strength of the Indian market—it represents probably 90 percent of the revenues coming into the ICC (International Cricket Council), and we have seen the proliferation of IPL teams moving outside of their home market into other national markets. I think that’s to be welcomed,” Gould added.
While there is a perception that IPL owners, such as the billionaire Ambani family who owns the Mumbai Indians, are only interested in full control of a hundred teams, Gould stated that potential investors can acquire 100 percent ownership, depending on their financial capabilities and operational delivery expertise.
The IPL and Women’s Premier League (WPL) owners have been met and spoken with numerous times, according to Vikram Banerjee, director of business operations at the ECB.
“I’ve now met and spoken to, a number of times, all the IPL owners and WPL (Women’s Premier League) owners that don’t overlap and there is interest there, from what they’ve told me, which is fantastic and lends into a very exciting process. I would really hope we have a level of partnerships with some IPL teams; I think that would be brilliant. They have done a great job and know cricket very well,” Banerjee said.
Banerjee also disclosed that the ECB has contacted NFL owners to make investments in the Hundred and provided an understanding of cricket’s rules to NFL officials.
