Deals For Six Hundred Franchises Completed With £520m Windfall Expected

The ECB has announced that deals for six of nan 8 Hundred franchises person been completed, pinch a full windfall of £520m expected erstwhile paperwork for nan last 2 teams is finalised later this year.

The income process was completed successful February, erstwhile 8 parties entered into an exclusivity play having agreed deals which weighted nan teams astatine a mixed £975m. Work has been ongoing to formalise nan income complete nan past 5 months, pinch nan process described arsenic being “in nan last straight” arsenic agelong agone arsenic April, pinch signatures astatine that constituent expected “very, very soon”.

But nan complexity of nan ineligible arrangements – 1 region executive said 73 different contracts had to beryllium agreed and signed disconnected earlier nan waste of a number liking successful their 1 franchise could beryllium completed – and nan caller investors’ desire to person arsenic overmuch power arsenic imaginable complete nan competition’s early mixed to hold nan announcement.

The completed deals impact nan acquisition of 49% stakes successful Birmingham Phoenix, Southern Brave and nan Lord’s-based London Spirit, a 50% liking successful Welsh Fire, 70% successful Manchester Originals and nan complete takeover of Northern Superchargers by India’s Sun TV network.

Oval Invincibles and Trent Rockets stay successful nan process of finalising deals for 49% stakes, which are expected to reason by nan extremity of September. Proceeds are to beryllium shared betwixt master counties and nan grassroots game.

“This finance will not only substance nan competition’s maturation but besides transmission transformative levels of backing into our master counties and grassroots game,” said Richard Thompson, nan ECB chair. “This will guarantee cricket continues to thrive astatine each levels crossed England and Wales for generations to come, supporting our broader ambitions to go nan country’s astir inclusive athletics and driving cricket into harder to scope and under-served communities.”

The ECB retains ownership of nan title itself, its regulations and nan magnitude and timing of nan model successful which it is played. But nan investors will clasp various vetos, including complete its imaginable early description , and alongside nan ECB and big counties will beryllium represented connected a caller Hundred board.

“The Hundred has created a shape wherever contented meets invention and fans of each ages are tuning in,” said Kaviya Maran, caput of sports astatine Sun TV. “It’s a gamechanger and we are present to thief push it moreover further. For personification who is passionate astir nan game’s future, particularly bringing much women and younger fans into it, this finance felt for illustration a nary brainer.”