Five IPL sides have expressed an interest in acquiring a stake in the Lord’s based The Hundred team, London Spirit, revealed MCC president Mark Nicholas on Wednesday.
Nicholas is set to take over as the chairman of the Spirits later this year and his revelation comes after MCC CEO Guy Lavender’s recent letter to its members seeking approval for the ECB’s offer of privatising 49 per cent of the team’s stake.
Nicholas, a former first-class cricketer, a seasoned writer, and a commentator, did not reveal which IPL teams have shown their interest in buying stakes.
Fifty-one per cent of the shares will remain with the Spirits’ franchise, while a decision on the remaining stake will be finalised through a process of bidding.
“What we are putting to a vote is to accept the ECB’s offer of a 51 per cent share of this franchise,” Nicholas said.
“We will always be a members’ club,” he continued.
“The first target is membership harmony because as a member you are entitled to a view,” Nicholas said.
He made the revelations during the announcement of the inaugural ‘World Cricket Connects’ symposium at the Lord’s slated to be held on July 5.
BCCI secretary Jay Shah, outgoing India coach Rahul Dravid and England coach Brendon McCullum, along with representatives of some IPL franchises are expected to be present at the symposium.
The pathway to the bidding process is still being worked out by the ECB, Nicholas added.
“But the real truth is that not everything is clear yet. For example, how would the bidding process take place? What’s the rollout of these franchises in the bidding? We don’t know that yet,” he said.
“The ECB haven’t declared that. We have met the investment bank – I’m not sure they even know yet. There’s still a lot for us to learn,” Nicholas added.
Nicholas expressed that it would only be sensible on ECB’s part to take advantage of the boom of franchise cricket, after being beaten to the T20-craze bandwagon first by India over a decade ago.
“We missed out on T20 in 2003 where we could have grabbed it. India thought quicker than us and were smarter than us, as India often is. India moves at an extraordinary pace to make things work,” Nicholas added.
“The Hundred has given us another opportunity. The MCC membership quite likes being part of the chat, not being consigned to a piece of history,” he said.
“The members I talk to really love the idea of having a team (an MCC team in the Hundred), and love the opportunity that it brings,” Nicholas continued.
“There will be a financial opportunity, either in the growth of the equity or in the sale of the equity,” he concluded.
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