The Cento: deadline for the sale of franchising delayed by the ECB
The deadline to finalize the sale of the hundred franchises has been extended by England and Wales Cricket Board after delays in negotiations.
Many sources have told the BBC Sport that there are no important concerns about the suspensions, with investors still fully engaged in the agreements agreed at the beginning of this year who had an initial period of eight weeks exclusivity.
The delays focus on the participation agreement, the key legal document between the ECB and franchising investors who include how the television rights for the tournament are sold in the future.
Now it is hoped that the sales process will end by the end of April, but it is said that all the parties are relaxed for the period of time if the legal process requires longer.
As reported by Daily telegraph,, external The potential buyers of the two London franchises are among those who have raised concerns about the participation agreement.
An American consortium of technological billionaires agreed to pay £ 145 million for a 49% share in the London spirit of Lord, While the richest family of India – the Ambanis – purchased the same participation in the Oval Invincibles for £ 60 million.
However, an investor told the BBC Sport that he would be “stunned” if any of those who had agreed to buy a franchise would have retired at this stage.
The overall evaluation of the sales of the hundred franchises has reached over 950 million pounds.
The total money collected to be shared between the 18 counties, the Marylebone Cricket Club (MCC) and the domestic game are over £ 500 million.
The ECB is maintaining the control of the Cento Competition, but has sold shares in the teams to provide an injection in cash to the game in this country.
From the total money collected, 10% will go directly to the recreational game. The proceeds of sales of 49% will be divided between the 18 first class counties and the MCC.
A few changes are expected for the hundred for next season, which is seen both by the ECB and from new investors as a year of transition.
