Vikram Banerjee, the man who spearheaded the sale of eight minority stakes in the Hundred, has been rewarded with a promotion by the England and Wales Cricket Board.
Banerjee will take up the role of managing director of the Hundred after the competition saw its eight franchises valued at £975m after a series of auctions led to major investment in English cricket’s newest playing format.
The London Spirit franchise, based at Lord’s, was snapped up by executives of Google, Microsoft and Adobe in a deal that valued the team at nearly £300m.
Individuals, moguls and groups with majority stakes in Indian Premier League franchises snapped up four of the eight franchises while other investors include Birmingham City owners Knighthead Capital, Chelsea part-owner Todd Boehly and the owners of Major League Cricket franchise Washington Freedom.
Banerjee will “will conclude the ongoing sales process and then work with each of the investors” as well as taking on a role which will see him be the “strategic lead, scrutinising and monitoring strategy, finances and performance relating to the commercialisation and future of the competition”.
Hundred achievements
ECB chief executive Richard Gould said: “It’s testament to the work of many people within the ECB and across the cricket network that The Hundred has already achieved so much, and there was such an appetite from partners wanting to get involved in it.
“Vikram has led the work to attract new partners into the competition superbly, and is the perfect person to now conclude these deals and work with the teams and investors to take The Hundred to the next level over the coming years.
“Having been at the heart of developing the ECB’s Inspiring Generations strategy for cricket, he also truly understands how The Hundred can not only grow the game but also support the whole of cricket in England and Wales.”
Banerjee added: “I’m delighted to be taking on this new role, and to be able to drive the competition forward, building on the success of the competition so far and working with a new group of partners who bring such an impressive range of skills and expertise from the very best of global sport and industry.
“I look forward to concluding these deals and beginning to work together to grow The Hundred, bringing fans even more of the world’s best players, delivering even more exciting cricket and great fan experiences, and creating more new cricket fans at home and around the globe. I am incredibly excited about what The Hundred can achieve in the future, and the good it can do for the whole of our game.”