Middlesex chief: Ignoring foreign investment offers for Hundred would be foolish
The chief executive of Middlesex County Cricket Club says English cricket would be “foolish” to spurn foreign investment interest in The Hundred, as the sport’s chiefs explore the future of the short-form competition.
The England and Wales Cricket Board is said to have had a number of discussions with private equity groups and overseas investors in relation to The Hundred, a format of the game currently only played on these shores.
The ECB owns all eight clubs in the competition and each team is run by country representatives. It is thought that a decision on the next steps could be taken as early as this month to ensure any changes are in place by the start of the 2025 season.
Hundred investment talk exciting
“[Talk of foreign investment in cricket] is absolutely fantastic. It’s a really, really exciting time,” Middlesex chief executive Andrew Cornish told City PM
“And all the conversations about where The Hundred might go, and what might happen in the future and the potential external investment is just super exciting. It really is.
“It’s really important we consult with our members and we talked with our members all the way through, they are the owners of the club – the majority of first class counties are member owned.
“If it was limited external investment into The Hundred or something like that, then we’d be foolish not to look at it. But at the end of the day, the members will decide.”
There are reports of a potential expansion to The Hundred, with an additional two franchises touted for entry.
But the tournament made a loss of £9m in its first two seasons and, with the ECB paying staff and player costs, it is an expensive outgoing for an organisation with low cash reserves.
Cricket’s top brass insist the game is strong, however. Surrey’s chief executive Steve Elworthy told City PM last month: “We play when everybody else is having their [off seasons] so when you’ve got folks like that [IPL and USA] sniffing around, you realise how significant a USP that is.”
Added Cornish: “It’s a great, great sport to be involved in and this projects very, very well for the longer term.”