The ECB will be advised by the Raine Group and Deloitte over the sale of Hundred teams to private investment.
Stakes in each of the eight teams will become an investable asset and it is understood that there is interest from private firms both in Europe and in the likes of the United States and India – where short-form cricket is king.
In a statement the ECB said: “The ECB will continue working closely and collaboratively with its members through the process, including finalising how proceeds will be distributed among the First-Class Counties, MCC and the recreational game.”
The Raine Group were at the centre of the sale of 27 per cent of Manchester United to Ineos founder Sir Jim Ratcliffe while them and Deloitte are no strangers to the sporting market.
The Hundred will get underway this summer in it’s fourth season under a new partnership with Compare the Market after Cazoo stepped back.
Hundred per cent
ECB Director of Business Operations Vikram Banerjee said: “We have identified this moment as the opportunity to take The Hundred to the next level while capitalising on the global interest in the competition to underpin the structure of the whole domestic game.
“The opportunity to engage new global strategic partners will help us unlock the future potential of The Hundred. We will be looking to engage the very best in world sport to grow The Hundred into a competition which can benefit the whole of cricket for years to come.
“With proceeds from any investment going direct to the recreational and the county game, it will support the other parts of cricket which are so cherished by fans and players alike and play an important role in identifying and developing talent.
“We are delighted to have appointed an advisory team with the experience, nous and ability to ensure any deals that are brokered are the right ones for the sport. The Raine Group, Deloitte, Latham & Watkins and Onside Law LLP will be valuable partners and advisers as we take this step forward as a game.”