THE ENGLAND and Wales Cricket Board (ECB) is close to finalising a deal with new Hundred investors that will allow it to retain control of selling domestic television rights while receiving the full £520 million valuation for the eight franchises.
The exclusivity period agreed after January’s Hundred auction was extended last month, and following further negotiations, parties involved now expect a redrafted participation agreement to be signed by the end of April, according to The Guardian.
The new part-owners of London Spirit, a consortium of technology executives under Silicon Valley Cricket Investor Holdings, and Oval Invincibles, owned by Reliance Industries, had raised concerns over TV rights, sponsorship, and voting rights on the new Hundred committee, which will oversee the tournament from next season.
A compromise has been reached where the ECB will retain control of all domestic TV rights, including the Hundred.
The current deal with Sky Sports, worth £220 million annually, begins this summer. Franchise owners will be responsible for overseas rights sales.
Investors had sought to sell Hundred rights separately, but the ECB will retain that authority, keeping the tournament within the domestic TV package for the 2029–2032 cycle. The ECB has not ruled out selling the competition separately in future.
Franchise owners will now have greater autonomy over sponsorships, as a clause allowing the ECB to secure five central deals has been removed. They will also receive enhanced voting rights.
The franchise valuations remain unchanged, securing £520 million, with £52 million earmarked for recreational cricket and the rest for the professional game, The Guardian reported.
The participation agreement also includes the schedule, playing conditions, and team count.
While a shift to a Twenty20 format is expected in 2029, this was not discussed. Any format or expansion changes will be decided by the Hundred committee.
An aerial view of the British Steel Scunthorpe site on September 13, 2024. (Photo: Getty Images)
