The England and Wales Cricket Board (ECB) has taken another step towards selling some or all of its 49% share in the eight Hundred franchises. The ECB has appointed the US-based merchant bank Raine Group, which worked on the recent sales of Chelsea and Manchester United, to “source partners” as it seeks to monetise the controversial competition before the start of its fourth season in July.
An estimated £500m could be raised by the sales, triggering a financial flood which would boost county coffers as well as benefiting the MCC and the recreational game. “The ambition is to seek partners with the expertise to help us take the competition to the next level, while ensuring any investment benefits the whole of the game,” the ECB said.
