2024-07-23 18:34:09
English cricket chiefs confirmed on Monday they have held talks with Indian Premier League (IPL) owners about acquiring a stake in their domestic Hundred competition. The fourth edition of the controversial 100-balls per side tournament, which features eight specially created teams — each with a men’s and women’s side — rather than the traditional 18 first-class English counties, starts on Tuesday. Its future remains uncertain, with the England and Wales Cricket Board (ECB) looking to secure private investment in a bid to cement its position in the global calendar and boost the finances of the domestic game. The ECB are trying to balance a desire for a cash injection while retaining control of the Hundred by selling off a 49 percent stake in each team to private investors, with host teams retaining the remaining 51 percent of shares.
But the hosts could sell part or all of their shares.
“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 cash-rich T20 IPL, a multi-million dollars spectacle underpinned by the mass enthusiasm for cricket in India, the world’s most populous nation, has changed the sport’s global landscape, with players no longer needing to go through the grind of five-day international Test matches in order to enjoy lucrative careers.
There is a view that IPL owners, such as the billionaire Ambani family who are in charge of the Mumbai Indians, would only be interested in 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 said while he had spoken to IPL owners about the Hundred, he was also open to offers from American Football’s 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,” 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.”
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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