Bankers set to impress cricket chiefs with pitch to sell off The Hundred | Business News

English cricket is set for a major shake-up as the England and Wales Cricket Board (ECB) plans to sell stakes in The Hundred’s franchises. Firms like Raine and Rothschild are in contention to advise the ECB on this groundbreaking move.

The ECB is looking to raise funds by bringing in private investors to own a portion of teams like the Northern Superchargers and Welsh Fire. This move is part of a larger effort to revamp the sport’s ownership structure and inject much-needed capital into English cricket.

Under the proposed plan, each host venue would own 51% of their franchise, with the remaining stake being sold to private investors. It is estimated that this process could raise £100m, with the proceeds being distributed among the 18 counties and recreational cricket.

Some of the world’s most prominent sports investors, including backers of Indian Premier League (IPL) teams, are expected to show interest in owning stakes in The Hundred franchises. The ECB aims to have the new ownership structure in place by the 2025 tournament.

Richard Gould, the ECB chief executive, expressed the desire to see private investment in The Hundred, emphasizing that the focus should be on investing in the teams rather than the central competition. The appointment of an advisor is expected to be ratified in May.

While the move towards private investment has garnered support, it has also faced criticism, with some counties excluded from The Hundred expressing dissatisfaction with the proposals. Nevertheless, The Hundred has been successful in reinvigorating public interest in cricket, particularly among female and younger spectators, at a time when other formats of the game are struggling.