Saturday, 20 July 2024

Media Guardian: ECB wants to keep the Hundred name even if it switches to Twenty20 format

Story from Media Guardian:

The England and Wales Cricket Board is pushing ahead with proposals to switch the Hundred to a Twenty20 format, but plans to keep the competition’s name. The Observer has learned that a return to traditional six-ball overs is on the cards when the next television rights cycle begins in 2029, although the Hundred title and branding will remain.

The ECB announced plans for the new shorter format in 2018, with the 100-ball innings divided into sets of five or 10 balls instead of overs, but as it prepares to sell stakes in the eight franchises this autumn a reversion to T20 is expected. Any change to the playing conditions would require the support of the ECB’s TV rights partner, Sky Sports, which expressed scepticism when the idea was first floated last year.

Sky has committed to investing £375m in the Hundred over nine seasons, until 2028, so is reluctant to sanction a U-turn, although keeping the name may be enough to win its backing in a compromise agreement.

The secondary rights partner, BBC Sport, is also a big fan of the format as shorter matches suit its evening TV schedules, but it pays around £1m for its rights so has less influence. The existing eight city-based Hundred franchises will remain, with the ECB hoping for two extra teams, in the north-east and south-west, in time for the 2029 season.

“We have no plans to abandon the Hundred,” said a source involved in the discussions. “Our plan is to grow the competition and build on its success, whatever the format.

“Hundred is a well-known cricketing term so keeping the competition’s name will not be a problem. It’s a really powerful brand that has attracted interest from all over the world. But T20 is the global format and will be an Olympic sport from 2028 so we have to explore that option.”

The ECB caused controversy and upset many cricket supporters by announcing the creation of the new format in 2018, with the Hundred launching in 2021 after a 12-month delay caused by Covid. While the competition has been successful in attracting new audiences and advertisers to the sport, particularly to the women’s Hundred, it has not caught on around the rest of the world. Hopes the Hundred could become the Olympic format when cricket joins the Games in Los Angeles in four years’ time proved fanciful, while the ECB has been unable to attract Indian players or broadcasters.

The ECB first floated reverting to T20 in discussions with the counties last year, an idea that has since solidified as part of its plans to attract outside investment to the Hundred. While the ECB owns the eight franchises it is planning to hand a 51% stake in each of the teams to their constituent counties at the end of this season’s competition, which begins with a double header between Oval Invincibles and Birmingham Phoenix in south London on Tuesday.

The ECB is hoping to sell its remaining 49% share to outside investors in an auction process due to begin in September, with the host counties welcome to sell as much or as little of their share as they please. Given most of the potential investors are expected to come from the United States and India the ECB is understood to have reached the conclusion that selling a T20 competition makes more sense, albeit while retaining the Hundred brand.

The ECB is hopeful of raising up to £500m from selling half the Hundred, but concerns have been raised about the sales process. Several private equity sources have told the Observer that such a valuation is overly optimistic. The only firm offer the ECB has received came in November 2022 from the Bridgepoint Group, which offered £400m for a 75% stake, which was firmly rejected. The ECB declined to comment.

© 2024 Guardian News & Media Limited.