In a boost to England Cricket Board’s effort to seek private investment for its 100-ball, city-based franchise competition The Hundred, ECB on Thursday announced the arrival of the advisory team. The advisory team will seek opportunities to attract private investment in the hugely popular tournament.
Prestigious institutions booked as part of advisory team
As joint financial advisors, The Raine Group and Deloitte will assist teams in The Hundred in obtaining private investment. The lead advisor on the transaction process, responsible for finding partners and negotiating investment terms and structure, will be The Raine Group, a global merchant bank operating in the sports, media, entertainment, and technology sectors.
Throughout the transaction process, Deloitte will advise the ECB strategically regarding suggested team investments.
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Meanwhile, Latham and Watkins and Onside Law LLP, who recently spearheaded the sale of Manchester United to the INEOS group, will act as legal co-counsel .
After holding lengthy consultations with its members in recent months, the ECB has received their support for the current course of action, which involves pursuing private investment into the eight teams. The goal is to find partners with the know-how to advance the competition and make sure that any investment advances the game as a whole.
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