For now, however, talks regarding the potential privatization of The Hundred have just gotten hotter, considering it is clear that the ECB has started pressuring Indian Premier League franchises to sign NDAs to get access to confidential financial and internal information concerning the teams and activities of The Hundred. The formula is clear: attract investment by IPL franchises but only after the signing of these NDAs.
To expedite the process, ECB has engaged two leading agencies, Deloitte and Raine Group, who will help it negotiate with IPL franchises. It is primarily eyeing investments for either the eight teams of The Hundred or for the counties involved. To this effect, the ECB has made it clear that the IM, a key document containing all the relevant financial details, will be provided to IPL franchises only after they ink the NDA.
An Information Memorandum is a document containing the financial details of the seller’s property or business, thereby providing probable investors with all the data they need to decide whether they are interested in it. However, this stance by the ECB raised a few eyebrows, considering that even the Board of Control for Cricket in India never got IPL franchise owners to sign NDAs despite the league being 17 years old.
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According to an ECB spokesperson, the need for NDAs is the rule of the game whenever sensitive information about finances is involved. Meanwhile, IPL franchises are closely examining the terms of the NDA. Among them is Sanjiv Goenka, owner of the Lucknow Super Giants, who recently expressed particular interest in understanding what the ECB is after.
ECB wants IPL teams to sign Non Disclosure Agreement related to The Hundredhttps://t.co/q4CM59LR0G#Bj88 #Baji #BjSports #Sports #Cricket #ECB #TheHundred #IPLTeams #NonDisclosureAgreement #CricketNews pic.twitter.com/6PcqJ4M96R
— BJ Sports (@Bjsports_OFC) August 30, 2024
Equally, Sanjiv Goenka seems to be wondering whether the English cricket board has done this intending to simply grow the game or just grow brand value and increase commercial appeal.
“Signing an NDA is alright, but more important is what the terms and conditions are,” Sanjiv Goenka said. “Why are you in it? Is that for brand value, for the love of the sport or to play a role in developing cricket? If you can’t influence that, or guide that, then why are you in it? That is something we need to ask our own selves. But yes, if you can make a meaningful contribution, then it is different.”
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While the IPL franchises make representations, the fate of the privatization of The Hundred lies in these negotiations; both factions have their interests, which they are trying to get closer to each other for the possible partnership that might emerge.
