HUNDRED CAPITAL SALE: investors express frustration in the motives ‘Pure Financial’ of ECB


Possible investors in one hundred franchises have expressed their frustration with the BCE sales process, which will be determined by the final offers in the next two weeks. Biders fear that the efforts they have put in the construction of relations with potential partners in the last five months may have been wasted, with the ultimately determined process by “pure financial factors.”

The ECB invited offers for participations of 49% in each of the eight hundred teams in early September, in a sales process administered by Raine Group and Deloitte, based in the United States. The Board said that the process has the double objective of attracting “strategic partners” for the future success of the hundred, while guaranteeing the “long -term financial sustainability” of the English national cricket.
The final round of the process will begin on Thursday, as Espncricinfo revealed, after each host place chose a list of possible partners to direct its franchise as a joint company. The best bidder of each short list will enter a period of exclusivity after the sealed offers (if there are two bidders) or an auction (if there are three or more left).

Some possible investors have raised their frustrations that the final stage of the process will be determined by a direct financial offer. This has been a surprise for some bidders, who believed that the host places would consider all the final round offers and choose their favorite partner based on the extensive discussions they have had in the last five months.

“It is reduced to the highest number of victories,” said an associate close to a team of offers to Espncricinfo. “If that has been the case since the beginning, then such a prolonged and confusing process could have been avoided. We, as many, have a convincing case that goes beyond pure financial factors.

“The bidders in this process are very successful people from both the sports world and business. But everything has been unpredictable and has changed at all times, which has been worrying. This is a crucial time in time for the game in England : Hopefully all things have been considered with respect to associations versus financial gain. “

The ECB defends the ‘complete and rigorous’ process

The ECB denies that sales are simply a case of the highest winners of the desserts and will defend their process as “thorough and rigorous.” They argue that the first two stages of the process saw more than 100 initial expressions of interest significantly reduced in collaboration with the eight places of hosts, depending on their preferences, with some lucrative offers counted.

Richard Gould, executive director of the ECB, has previously dismissed criticism of the process, describing it as investors trying to “negotiate through the media.” A ECB spokesman told Espncricinfo: “This has been an exhaustive and rigorous process, with each host place choosing their own list of possible partners based on who they would like to work, not to make purely financial decisions.

“Our goals have always been attracting the interest of a wide range of parts with relevant skills and experiences to help hundreds to continue growing, and maximize the value for the entire game. We have had a lot of interest and commitment to a broad .

The ECB also insisted that all the remaining bidders in the process have presented offers at each stage of the process. Several possible investors have consulted the recent appearance of an offer from a consortium by Silicon Valley Tech, directed by Nikesh Arora and including the CEO of Google, Microsoft and Adobe, but the Board insisted that there have been no late participants since the deadline Initial first round. of October 18.

Another member of an offers team told Espncricinfo that they have found the “complex” process and that they feel that the lack of communication has led to “confusion” among possible investors. But they added: “I respect what the ECB is doing. They are trying to maximize what they can get from this. They have to do everything they can in that forehead.”

Thompson has also ruled out an “IPL acquisition” of the hundred. It is understood that the owners of at least five Indian franchises, including CVC, the private capital firm that directs the Gujarat Titans, are in the final bidding round, but several US investors are also in dispute, including Sanjay Govil, the Washington Freedom owner in Major League cricket and Avram Glazer, Manchester United’s co -chair.
Gould said last month that the funds collected would save the finance of the County cricket for the next “20 to 25 years”, the ECB is putting in its place the “Rieles on Guard” to ensure that the counties spend the money in a way in a way Sustainable: pay debts, building reservations or investing in long -term projects.



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