The English Director of English cricket will take a historic moment for sport on Wednesday when he announces that three-quarters of transactions to bring new investors to the hundred were completed.
Sky News understands that the England Cricket Board and Wales (ECB) plans to issue a declaration confirming that it has received the product of the sale of participations in Birmingham Phoenix, London Spirit, Manchester Originals, Northern Superchargers, Southern Brave and Welsh Fire.
The other two franchise offers – involving invincible oval and the Trent Rockets of Nottinghamshire – will be completed on October 1, should say the ECB.
An initiate said that a statement should be published on Wednesday, although he warned that the moment could slip.
When the eight transactions are concluded, they generate a collective windfall of 520 million pounds sterling for the tense corners of the sport.
Last week, Sky News revealed that Unresolved talks between the richest family in India and the Surrey County cricket club – who hosts the invincible oval One hundred team – threatened to delay the delivery of a large windfall for sport.
One of the pending problems concerns the name under which the invincible oval will play in the coming years, the Ambani family wishing to use a derivative of the Mumbai Indians which he also has.
This week’s announcement will take place after months of talks after the ECB and the eight hundred counties have agreed periods of exclusivity with their favorite investors.
Donors include some of the world’s most eminent financiers, billionaires and technology.
After prolonged talks, the ECB has accepted revised conditions with investors, host sites now retaining the intellectual property rights of their teams.
Investors will also hold an effective veto on the future expansion of the hundred, while the ECB will not be forbidden to launch any other short professional version of the sport while the hundred remains operational.
Meanwhile, the Director Body will retain full ownership of the competition itself as well as control of the regulations and the window in which it can be played each year.
The ECB expects investors in the eight franchises to sign participation agreements since an auction in February, which appreciated the teams participating in just over 975 million pounds Sterling.
Certain transactions involve investors with 49% of their respective franchise, while the Sun television network in India has fully taken its possessions from the Northern of the Yorkshire Northern.
The product of its stake sales will be distributed to all professional counties of English cricket as well as 50 million pounds sterling delivered to the basic game.
Manners have been considered a lifeline for many short of money counties that have been struggling under lots of important debts for many years.
The most precious sale of the hundreds has seen a group of technology magnates, including executives from Google and Microsoft, paying around 145 million pounds sterling for a 49% stake in London Spirit de Lord’s.
This year’s tournament will start next week with luminaires including a confrontation between the two franchises based in London.
The ECB refused to comment.