(Reuters Photo)
On Monday, English cricket authorities confirmed they’ve engaged in discussions with owners of the Indian Premier League (IPL) regarding potential investment in their homegrown Hundred tournament.
This unique competition, now in its fourth edition, kicks off Tuesday amidst ongoing debate. Unlike the established 18 first-class English counties, the Hundred features eight newly formed teams, each comprising both men’s and women’s squads.
Amidst uncertainty about its future, the England and Wales Cricket Board (ECB) seeks private investment to solidify its place in the global cricket calendar and bolster domestic cricket finances.
The ECB aims to strike a balance, pursuing financial infusion while retaining governance over the Hundred. Their strategy involves offering a 49 percent stake in each team to private investors, while the host teams maintain majority control with 51 percent ownership. However, there’s potential for hosts to sell part or all of their shares as discussions progress.
“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,” ECB chief executive Richard Gould told reporters during a conference call.
“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,” he added.
The IPL, a lucrative T20 extravaganza fueled by India’s massive cricket fanbase, has reshaped the global cricket scene. It offers players a pathway to lucrative careers without necessarily having to endure the rigors of traditional five-day Test matches. This shift underscores the tournament’s profound impact on the sport’s worldwide dynamics.
“There is certainly the opportunity for people to have potentially 100 percent ownership. It depends on the capabilities they can bring both in terms of finance and operation delivery,” said Gould.
Vikram Banerjee, the ECB’s director of business operations, indicated his discussions with IPL owners regarding the Hundred, expressing openness to potential offers from the NFL, American football’s premier league.
“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,” Banerjee said.
“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.”
He added: “At the same time, we’ve just sent out a document and video to some NFL owners that explains what cricket is and what the rules are.
“In terms of fan engagement, how they can build stadia experience and bring in the next generation, those guys are amazing.
“So, we can bring that blend together, which I think is what we hope to do and that can work really well.”
