ECB Eyes NFL Investment
The England and Wales Cricket Board (ECB) has confirmed it has contacted owners of teams in the NFL regarding potential investment into The Hundred.
With a hope that investors will be in place for the 2025 season, the BBC reports that the ECB has spoken every team owner in the Indian Premier League (IPL) and Women’s Premier League and plans to host interested parties during this year’s tournament, which begins on Tuesday 23rd July.
Now, the ECB, in partnership with the Raine Group, Deloitte and legal firm Latham & Watkins LLP., has revealed it is also targeting NFL owners.
ECB Director of Business Operations, Vikram Banerjee, said, “We have sent a document and video to some NFL owners to explain what cricket is.”
“In terms of fan engagement, how they can build stadia experience and bring in the next generation, those guys are amazing. We can bring that blend together.”
The news comes two months after the ECB confirmed that it is seeking private investment into the eight teams that compete in the 100-ball cricket tournament.
This will see a guaranteed 49% of each team will be sold to private investors, with up to 100% of each of the teams available should counties sell their 51% share.
Of the 49% stakes sold, 10% of the revenue will go to the recreational game in England and Wales and the rest then shared between the 18 first-class counties and the Marylebone Cricket Club (MCC). The 11 non-host counties will get a greater share of this portion.
The two London franchises – the Oval Invincibles and London Spirit – are expected to fetch the highest valuation.
According to City A.M, an unnamed American multi-sport ownership group has expressed interest in investing but has concerns over the feasibility of buying a controlling stake in a franchise.
City A.M report that an unnamed European private equity organisation and an Indian Premier League franchise owner have also shared similar concerns.
British private investment company Bridgepoint Group had a £400m offer for a 75% in the Hundred rejected by the ECB in 2022.
Richard Gould, ECB’s Chief Executive, commented, “In terms of the eight teams that we’ve got, we’re having really good, positive conversations with all of our stakeholders.
“We understand and we see the need for a potential expansion of the competition at some point going forwards. That is certainly something that has been discussed over the last five or six weeks with our stakeholders.
“We’re not saying exactly how that expansion could and would happen at this point because there are a lot of factors that would need to come into play on that. But, there is an ambition within the game that we would like to see the competition expand at some point.”
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