In a strategic move to attract international investment, the England and Wales Cricket Board (ECB) has initiated discussions with NFL team owners regarding potential stakes in The Hundred.
The ECB plans to sell shares in the eight franchises of The Hundred later this year, with new investors set to be on board for the 2025 season. This outreach is part of a broader effort by the ECB, which has also engaged with every team owner in the Indian Premier League (IPL) and Women’s Premier League. Several interested parties, including those from the United States, will attend this year's tournament, commencing on Tuesday.
"We have sent a document and video to some NFL owners to explain what cricket is," explained ECB Director of Business Operations, Vikram Banerjee. "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 Hundred, launched in 2021 with its unique 100-ball format, features eight franchises, each comprising both men's and women's teams. Despite upcoming sales, the ECB has no plans to alter the format to T20.
There have been discussions about expanding beyond the current eight teams, though any growth will align with existing TV broadcast deals, including Sky's contract running until the end of the 2028 season.
In December 2022, the ECB rejected a bid from Bridgepoint Group to acquire a 75% stake in the competition. Currently, there are no plans to sell the entire tournament. However, from September, stakes in the eight teams will be available for purchase. The host venues will retain a 51% share, which they can sell or keep, while the ECB will sell the remaining 49%.
Of the proceeds from the 49% sold, 10% will support recreational cricket in England and Wales. The remaining revenue will be distributed among the 18 first-class counties and the Marylebone Cricket Club (MCC), with the 11 non-host counties receiving a larger share.
The eight host venues, each receiving a 51% stake, include Lord’s (MCC/London Spirit), The Oval (Surrey/Oval Invincibles), Southampton (Hampshire/Southern Brave), Cardiff (Glamorgan/Welsh Fire), Trent Bridge (Nottinghamshire/Trent Rockets), Edgbaston (Warwickshire/Birmingham Phoenix), Old Trafford (Lancashire/Manchester Originals), and Headingley (Yorkshire/Northern Superchargers). These hosts have the option to sell all or part of their stake, with 10% of any proceeds also supporting recreational cricket.
This approach means investors might not be able to secure a complete or controlling share of any team. Venky Mysore, managing director of IPL team Kolkata Knight Riders, highlighted this as a potential "challenge" for investors.
It is anticipated that at least three hosts intend to retain their 51% share, while at least two are considering selling part of their stake.
New owners will have the opportunity to rebrand their teams, including changing names, colours, and overall branding. ECB Chief Executive Richard Gould emphasised that the primary motivation behind selling the teams is to generate the funds necessary to attract top global talent in an increasingly competitive landscape.
"We need to be able to ensure our best men and women players play and we can attract the best overseas players," said Gould. "If we were to delay too much, I think others may end up stealing a march on us."
Banerjee stressed that the selection of new team owners will not be based solely on financial offers, but also on the potential partnerships' ability to enhance English cricket. "I won’t say money is not important, because it is important, but alongside that are the skillsets that can support English cricket," said Banerjee. "Can we bring in the very best at fan engagement, at family audiences, digital and social media, who are the very best at driving women’s sport and cricket operations? Can we bring them together in one league, in one place?"