What happens next?
ECB selling off 49% of each franchise.
Around 15 short-listed buyers have been negotiating with venues
Each county has been talking to prospective partners. Each county might / probably have a favourite.
Then it goes to auction. Highest bid wins, losers can bid for another franchise
Oval/Surrey --> MI, Silicon Valley Consortium/ CVC --> MI bid £60m --> now in exclusive negotiation
Edgaston/Warwickshire --> Knighthead Capital +?? --> Knighthead (Tom Brady) bid $40m --> now in exclusive negotiation
Lords/MCC --> Todd Boehly + Glazer Family, Silicon Valley consortium, Lucknow?
Old Trafford/Lancashire --> MI (now drop out), Lucknow, +US investors
Southampton/Hampshire --> Delhi Capitals (already own Hampshire)
Headingley/Yorkshire --> ?Lucknow, Sunrisers Hyderabad +?
Cardiff/Glamorgan --> ?Lucknow, Capri Global Holdings, +?
Trent Bridge/Nottingham --> ?Lucknow, Nottingham Forest owners +?
Lucknow reported to have expressed interest in all 8 apparently. Others litsed based on media reports may or may not be true. Not sure of the order of auctions after the first two, but is next week. But potentially whoever is towards the end could easily lose their preferred bidders to another franchise. WIll the last one be sold for a higher value as the 8th and last goes under the hammer?
Reported that from the total money raised, 10% will go straight to the recreational game. Remainer go to the Counties. Presumably given the new agreements on offer 50% will be for the women's game and other money may be held back if certain criteria on representation not held back.
ECB hoping for £350m, so £250m to go.
The successful bidders now have an eight-week exclusivity period in which to finalise a deal with a franchise, to finalise the partnerships. What happens if they can't agree how to run the franchise? Easy to imagine that MI and Surrey CCC want to be very hands on..... A silent partner, a cricketing partner or just an investment to sell on?
