English County Cricket Clubs that are confronted with hardship will get financial boost after the English and Wales Cricket Board (ECB), with investments of four well-known IPL franchises, has been able to increase GBP 975 million by selling insights in eight teams in their flagship event ' The hundred '. The Cricket Board (ECB) of England and Wales has concluded exclusivity agreements with eight parties in the final phase of the process to secure private expertise and investments in the teams of the hundred. Mukesh Ambani's Reliance Industries (owners of Mumbai Indians), the GMR group (co-owners of Delhi Capitals), Sanjiv Goenka's RPSG (owners of Luckknow Super Giants) and Sun TV Network (owners of SunRisers Hyderabad) all bought an interest in Four of the eight franchises.
And their cumulative investments would be to be almost GBP 300 million, which is almost 30 percent of the appreciation that is increased by the sale of interests.
Other investors are Satya Nadella (Microsoft), Sundar Pichai (Google), Shantanu Narayan (Adobe) and Satyan Gajwani (co-founder MLC)-controlled Cricket Investor Holdings Limited who now co-owned London Spirits in the Lords. The consortium considered the maximum amount of GBP 144.5 million to buy bet.
Knighthead Capital Management will have Birmingham Phoenix (Warwickshire), the Indian-American businessman Sanjay Govil's Washington Freedom has bought bets in Welsh Freedom (Glamororgan), while EPL Giants Chelsea's owner boehly's company has bought. In Trent Rockets (Nottinghamshire). From GBP 975 million, the ECB is planning to restore no fewer than GBP 520 million pounds for the development of the province, grassroots and recreational cricket. While GBP has been reserved for 50 million for grassroots and recreational cricket, the 18 English provincial teams are assigned part of GBP 470 million with a larger cake for those clubs that do not have 'one hundred franchise'.
'The Hundred' is a format in which each team plays 100 ball per innings with a bowler who can bowl 10 deliveries and a powerplay of 25 deliveries per innings.
Reliance bought 49 percent bought in the oval invinces of Surrey County, while Sun TV has full 100 percent commitment in Northern Superchargers (Yorkshire), while Goenka has 70 percent share in Manchester Originals (Lancashire). GMR has a 49 percent share in Southern Brave (Hampshire).
Reliance paid GBP 60 million pounds to buy their interests, while Sun TV has eliminated the complete appreciation of GBP 100 million. RPSG bought their commitment for a shadow over GBP 80 million.
GMR, which has already bought Hampshire County Team, has invested 48 million in Southern Braves. “The eight teams are appreciated on a total of just over £ 975 million, with more than £ 520 million that are injected into the professional and recreational competition in England and Wales from the proceeds of the proceeds,” the ECB said in a release .
“The recreational and basic game is in line to receive around £ 50 million. Sales of the importance of 49% of the ECB in each team,” it said.
The English provincial teams have been a financial need for a while. A good example is that Hampshire is owned by GMR and Yorkshire who sells its full 100 percent “franchise deployment” to Sun TV.
“This will also protect the financing that goes directly to the professional provinces and recreational game, supports the structure of our district game and helps the growth of Future Proof Cricket in England and Wales for generations,” said ECB chairman Richard Thompson.
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