The ECB might not sell all Hundred franchises within the next year and is ready to withdraw some from the market if offers do not meet their full value. Richard Thompson, the chairman, stated that the ECB “do not want to feel pressured into selling them [when] we could have achieved much more if we had waited.” Richard Gould, the chief executive, revealed on Wednesday that the governing body has been in talks with “around 100” parties interested in acquiring 49.9% stakes in the eight Hundred teams. “The interest has come from various sources – a significant amount from India, also from the USA, other sports, and investment firms. We have a wide range of potential buyers,” he explained. “There will be some who are just exploring, but the number is encouraging.” Next week, potential investors will be required to submit formal offers as the sales process advances to its next stage. However, they are prepared for the possibility that not all franchises will attract acceptable bids and have pledged not to simply accept the highest offer. “Our timeline is flexible,” Gould noted. “There isn’t a strict deadline. Some deals will progress quicker than others. If not all are finalized by next summer, that’s acceptable. We may decide not to sell all at once.” Thompson added: “It could be a mix, it could be five and three, or a combination. What we don’t want is to feel pressured into selling all of them and later realize we could have gotten more if we had waited, especially if a particular team wasn’t ready to be sold.” The status of the Champions Trophy, scheduled to begin in Pakistan in February but whose schedule remains unconfirmed due to ongoing construction at host venues and Indian reluctance to travel to Pakistan, where they haven’t played for nearly 19 years, will be discussed at an ICC committee meeting this weekend but is not expected to be finalized. Gould mentioned that it is unlikely the tournament would proceed without Indian participation; a hybrid tournament, potentially involving games in the UAE, is among possible alternatives. “I know Pakistan is expecting India to participate,” Gould said. “There are various alternatives and contingencies if that doesn’t happen. I wouldn’t think [it would be played without India], because if the Champions Trophy is held without India, the broadcast rights are compromised, and we need to safeguard them. Hopefully, we can have the fullest possible competition in Pakistan. If that’s not feasible, we are aware of available options.”
Text: Lara Palmer
16.10.2024
ECB Prepared to Withdraw Franchises if Offers Fall Short; Champions Trophy Status Uncertain