Recent developments have witnessed Mark Nicholas, the president of MCC and who will become London Spirit chairman, revealing that five IPL sides have shown a “soft” interest in acquiring a portion of the stake at the Lord Club based team taking part in The Hundred.
In this letter, Nicholas who is also famous for his commentaries on cricket games said he received from Guy Lavender, CEO of Marylebone Cricket Club (MCC).
The proposal to privatize 49% stake in the spirit was subject to the approval of members through this letter by MCC Chief Executive Officer. The franchise itself would still retain 51 per cent control.
Nicholas did not reveal which teams had expressed an interest but instead said that a selection process would be used to determine which IPL franchises would ultimately take part in it.
This decision to privatize a significant proportion of London Spirit will result in fresh investment as well as expertise from IPL – which has become international news in cricket
The ECB’s new 100-ball format called ‘The Hundred’ has attracted considerable attention and could possibly bring more people into cricket.
“What we are putting to vote is acceptance of ECB’s offer for 51% shareholding of this franchise (Spirit). But we shall always be a members’ club.
“The first target is membership harmony because as a member you are entitled to a view,” Nicholas said at Lord’s when launching World Cricket Connects symposium scheduled for July 5th in Londo
Among the invitees during this symposium include BCCI secretary Jay Shah and England coach Brendon McCullum besides others. Such as current Indian coach Rahul Dravid and representatives from various IPL franchises who will also attend the event.
He added that ECB was still working out what their next step will be prior to the bidding procedure he mentioned earlier.
“But let us get real; nothing is clear yet. What about bidding process? How about those franchises rollout bidding? We do not have an answer to these yet.
According to PTI, Nicholas said, “The ECB hasn’t said that. We met the investment bank – I’m not sure they even know yet. There is so much still for us to learn,” by ‘ESPNCricinfo’.
Nicholas also underlined how crucial it is for English cricketing establishment to adapt in a rapidly expanding franchise cricket scenario. Which he considered as a sensible approach because England has missed out on this twenty years ago.
“Where we might have got it was T20 in 2003. India thought quicker and were cleverer than us as they often do. India would move heaven and earth to get things done,” he added.
This possibility should not be wasted according to the former Hampshire County captain who scored more than 18000 runs for the county first team in county championship.
“The Hundred has given us another opportunity. They like being part of the discussion rather than just history and people don’t mind about having one MCC team (in The Hundred) and what that gives them opportunities wise.”
He stated that financial opportunities would arise from either the appreciation or sale of the equity.
