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English cricket chiefs say that a windfall of almost 1 billion pounds sterling ($ 1.25 billion) of a hundred franchises auction is “a fundamental moment” which will safeguard the game for future generations.
Global investors, including four groups with links with the Premier Indian League rich in cash, have flowed large sums of money in the eight teams of the city based on competition.
The chief executive officer of England and the Wales of the Cricket Council, Richard Gould, told Lord’s on Thursday that he wanted to make the hundred “dominant competition” among his rivals.
The 100 bales-one side, which presents male and female teams, was launched largely with fanfare in 2021.
This turned out to be controversial, with many cricket fans of the angry county against the way the tournament deprives their clubs of key players at the height of the season.
But the ECB is convinced that 520 million pounds sterling of new investments will end up making a way in the game.
The auction process puts the combined value of the eight teams to more than 975 million pounds sterling – a surprisingly high figure in the context of the English domestic cricket short of money.
There is now a period of exclusivity, to finalize transactions.
A total of 50 million pounds sterling will be reserved for recreational cricket and the rest between the 18 first class counties and the Marylebone Cricket Club, the owners of Lord’s.
Counties who do not have a hundred teams will receive a larger section, while the hosts have been offered at 51% of their teams.
“In the past few days, we have reached a fundamental moment for cricket in England and Wales,” said ECB’s president Richard Thompson in an open letter published Thursday.
He added: “Our goal is now to ensure that the necessary measures are taken to finalize this process, in order to unlock the transformer impact that these new partners will bring to competition.
“This will also guarantee funding that will go directly to professional counties and recreational play, underlying the fabric of our county game and helping the growth of cricket to the test of future in England and in Wales for generations to come.”
– IPL links –
The sales process ended on Wednesday with an agreement to Southern Brave.
The GMR group, the owners of the brave Host County Hampshire and the co -owners of the Indian franchise of the franchise of the Premier League Delhi Capitals, agreed to buy a 49% stake in the team.
Three other IPL outfits with a hundred issues are reliance (Mumbai Indians and invincible oval), Sun Group (Sunrisers Hyderabad and Northern Superchargers) and RPSG (Lucknow Supergiants and Manchester Originals).
Some of these groups also have an involvement in other franchise leagues such as SA20 in South Africa.
Gould told journalists that the ECB, the Director of the Game in England and Wales, was now better placed to avoid a potential exodus of stars with other deductibles such as the major league cricket based in states -Unis and the first League of the Caribbean.
“In order to protect our test cricket and our international cricket, we must also make sure that the hundreds window attracts the best players in the world,” he said.
“We know that players’ salaries, in the coming years, will increase considerably among the hundreds. This will happen because we have to make sure that we are the world market leaders during the English summer.”
Gould added: “What you see is competition in Windows and we want to make sure that we are the dominant competition and I think we are well placed to do it.”
JDG / JW / EA
