English cricket chiefs confirmed that they have held talks with Indian Premier League (IPL) owners about acquiring a stake in their domestic Hundred competition.
The fourth edition of the 100-balls-per-side tournament, featuring eight specially created teams—each with a men’s and women’s side, begins on Tuesday.
The tournament’s future remains uncertain as the England and Wales Cricket Board (ECB) seeks private investment to secure its position in the global calendar and boost the finances of the domestic game.
The ECB aims to balance the need for a cash injection with retaining control of The Hundred by selling off a 49 percent stake in each team to private investors.
“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,” says Richard Gould, ECB’s Chief Executive.
“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.
IPL, a multi-million-dollar spectacle fueled by the immense enthusiasm for cricket in India, the world’s most populous nation, has transformed the sport’s global landscape.
There is a belief that IPL owners, such as the billionaire Ambani family who oversee the Mumbai Indians, would only be interested in having full control of a Hundred team.
“There is certainly the opportunity for people to have potentially 100 percent ownership,” said Gould.
“It depends on the capabilities they can bring both in terms of finance and operation delivery.“
The ECB’s Director of Business Operations, Vikram Banerjee, stated that he had discussed the Hundred with IPL owners and was also open to offers from the NFL.
“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. 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,” Banerjee said.
Name of Author: Cricexec Staff
