Thu Oct 17 05:02:36 UTC 2024: ## ECB to Auction 49% Stakes in The Hundred Teams to Secure Finances

**LONDON -** The England and Wales Cricket Board (ECB) is auctioning off 49% stakes in each of the teams participating in The Hundred, a new 100-ball cricket format launched three years ago. The move, inspired by the success of the Indian Premier League (IPL), aims to shore up the sport’s finances amid financial struggles faced by many county teams.

The Hundred, which features eight county teams, was created to attract new audiences, including women and families. It has seen success with growing TV audiences and significant financial contributions to the county game. The auction could raise between £152 million and £381 million, attracting interest from private equity firms, US sports conglomerates, and Indian investors.

ECB Chairman Richard Thompson believes IPL ownership in The Hundred could unlock access to Indian talent, further boosting the competition’s revenue potential. He emphasizes the positive impact The Hundred has had on women’s cricket, describing it as “seminal and transformational.”

Despite criticism from traditional cricket fans, Thompson insists the game must adapt to secure its financial future. The auction is being overseen by Raine, a merchant bank that facilitated the sale of Premier League clubs Chelsea and Manchester United. The ECB initially expected interest from 40-50 parties, but over 100 potential buyers have already come forward.

However, Lalit Modi, the founder of the IPL, criticized the ECB’s revenue projections, calling them unrealistic. He believes attracting Indian players is key to higher revenues, though current rules prevent them from playing in overseas leagues.

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