by Potential buyers of eight hundred franchises have had more time to conclude transactions that will inject at least 520 million pounds sterling in English cricket after four of them have raised concerns concerning the terms of the agreement.
As the Daily Telegraph reports, the eight -week exclusivity period agreed with the board of directors of England and Wales at the beginning of February, without signing the contracts, but all the parties are convinced that the agreement will be concluded by the new deadline, which was extended until the end of April.
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Reliance Industries, which agreed to buy 49% of invincible oval, and Cricket Investor Holdings, the American Tech Group which united their forces with the MCC to manage the spirit of London at Lord’s, both expressed concerns about the participation agreement, the new investors’ contract with the ECB. The Guardian learned that Indian buyers of Manchester originals and northern super-loaders also questioned elements of the contract and, consequently, the ECB has accepted a prolonged deadline. None of the eight new owners plan to sign until they are ready to do so.
Several sources at the ECB, the existing one hundred franchises and the representatives of new investors have expressed their confidence that the agreement will ultimately be concluded, but there are problems to solve. The largest stumbling block will revolve around who will control the next hundred, with many new investors wishing to resume the sale of television rights and keep income, rather than the ECB.
The hundred is now part of the exclusive national rights agreement of the BCE with Sky Sports, which includes all the male and female home games in England, and the director’s body wants to keep the right to sell a group agreement for the 2028 to 2032 cycle. Several of the new owners asked why the hundred cannot be sold separately, however, this is how work in India.
The new partner of invincible Oval Reliance, which belongs to the richest family of India, the Ambanis, has a particular interest in the rights of the media thanks to its joint venture with Disney and the property of the telecommunications company JIO, which distributes IPL corresponds free of charge to its subscribers in India. The increase in the value of the television agreement abroad of the Cent will be crucial to allow the new owners to recover part of their planned investments of 520 million pounds Sterling, and taking into account their expertise in the region, reliance and Cricket Investor Holdings in particular are determined to take control.
The breakdown of the rights portfolio would have implications for the long -standing relationship of the ECB with Sky, which pays 220 million pounds sterling per year for exclusive live coverage of English summer, and could lead to a drop in the value of the TV contract.
