The England and Wales Cricket Board (ECB) has extended the deadline to finalize the sale of The Hundred franchises following delays in ongoing negotiations. While the process faces minor hold-ups, multiple sources confirm that investors remain fully committed to the deals agreed upon earlier this year.

Key Negotiation Points

1. Participation Agreement Sticking Point
   Delays revolve around finalizing the participation agreement—the central legal document between the ECB and franchise investors. This includes defining future television rights distribution.
2. Revised Timeline
   The sales process is now expected to conclude by late April, though all parties are reportedly unconcerned if legal proceedings require additional time.

Major Investments at Stake

• London Franchises Lead the Way
  Two high-profile deals include an American tech consortium paying £145m for a 49% stake in Lord’s-based London Spirit, while India’s Ambani family secured the same stake in Oval Invincibles for £60m.
• Total Valuation Surpasses £950m
  Despite minor concerns, investors confirm withdrawals are unlikely at this stage. Profits from the 49% sales will be distributed among the 18 first-class counties and Marylebone Cricket Club (MCC), with 10% earmarked for grassroots cricket.

Future of The Hundred

• 2025 Season as a Transitional Year
  The ECB retains control of the tournament, with franchise stakes sold to bolster domestic cricket finances. Minimal changes are anticipated for the upcoming season.

Related: Franchise cricket’s global growth and The Hundred’s role in reshaping the sport.