In an effort to secure funding for “The Hundred,” the England and Wales Cricket Board (ECB) has contacted IPL teams, sovereign wealth institutions, and private equity groups. The ECB also wants counties to decide the tournament’s future by early 2024.
The current Hundred model consists of eight clubs, including men’s and women’s teams. The clubs were governed for the first three seasons by boards made up of independent directors and county representatives.
The ECB and the County Cricket Boards have reportedly been debating the new format since the conclusion of the 2023 season, and they want to make a decision in April 2024 after a three-part consultation session, according to an ESPNCricinfo report. That will allow them enough time to make the necessary adjustments for the tournament’s 2025 edition.
The ECB wants to allow private investors to participate in the competition, seeing it as a means of bringing capital into English cricket. During a meeting on Monday, December 4, Guy Lavender, the chief executive of the MCC, and Bruce Carnegie-Brown, the chair, reportedly informed the members that the ECB is in discussions with a variety of possible sources of finance, including owners of IPL franchises, private equity firms, and sovereign wealth funds.
Members were also asked by MCC to talk about which possible investors they would feel comfortable forming a partnership with. However, ECB intends to alter the Hundred in a number of ways, including adding two additional teams and transforming the clubs into franchises in which their major host counties will own a 50% interest.
Three-quarters of the vote will be required to change the tournament’s model.
In addition, they are considering an 18-team “open pyramid” structure in which teams would be promoted and demoted and a second league called “The Hundred” will be added. In an effort to draw the top names in cricket, there are also many talks of raising the tournament’s salary.
Notably, the competition will continue for at least five more years due to Sky Sports’ broadcast agreement with the ECB, and the English board is making adjustments to the game’s framework in an effort to draw in more spectators. The 18 first-class counties and MCC must vote by a three-quarters majority for any changes to the Hundred’s model, and the suggestions are still in the early stages.
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