The unresolved talks between the richest family in India and the County Cricket Club that welcome the invincible Hunged team threaten to delay the delivery of a large windfall for sport.
Sky News learned that Rise Worldwide – a subsidiary of the vast conglomerate of the Ambani family, Reliance Industries – and Surrey County Cricket Club has not yet agreed with several key questions concerning the sale of a 49% stake in one of the most lucrative franchises in the competition.
Cricket Insiders said on Tuesday that the name under which the team would play at the end of the agreement was among the pending problems.
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Reliance has the Mumbai Indians of the Indian Premier League, as well as teams in South Africa, in the United Arab Emirates and the United States.
A source said that talks between RISE around the world and Surrey were not a full dead end but could still take time to resolve, even if the English cricket director of English cricket wishes to announce that a windfall of 520 million pounds sterling for sport had been finalized.
Indian billionaires have agreed to pay around 60 million pounds sterling for a 49% stake in the invincible ovals, with Surrey CCC retaining ownership of the remaining 51%.
In a statement published when the agreement was concluded, Akash Ambani said: “We are happy to be part of the invincible oval – the most successful team of the hundreds and to welcome them to the Mumbai Indians.
“England, with its rich cricket culture, has always been special for the game.
The invincible oval pose with the trophy after winning the one in Lord’s. Peak: pa
“Having the emblematic oval, which has witnessed some of the greatest moments in cricket, because our place of origin is really special.
“We are impatient to collaborate with partners sharing the same ideas, Surrey CCC, who share our passion and our ethics for sport.”
On Tuesday, sources said that the remaining problems between Indian and Surrey CCC investors could be imminently resolved.
The Board of Cricket of England and Wales (ECB) is expecting investors in the eight hundred franchises to sign participation agreements for several months after an auction in February which assessed the participating teams to just over 975 million pounds Sterling.
The product of its stake sales will be distributed to all professional counties of the English cricket as well as 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.
Each group of investors in the hundred – where host counties include Nottinghamshire and Yorkshire – was invited to sign a place rental agreement and a shareholders’ agreement with the owner of the place where their team plays.
Sources have indicated that Rise Worldwide had not yet signed these two contracts with Surrey CCC.
Oli Slipper, Surrey CCC chair, said in February: “We said at the beginning that we wanted the best partner to ensure that Surrey continues to show the way in English cricket and Mumbai Indians, that’s what we have.
“They share our passion for cricket, they have the most important and successful team of IPL, the Mumbai Indians, and we believe that this partnership will bring continuous success to Surrey CCC and our team.
“Beyond the cricket, the huge success of RIL global activities will help Surrey also prosper on the field.”
The most precious sale of the hundreds has seen a group of technology magnates, including leaders from Google and Microsoft, paying around 145 million sterling pounds for a minority participation in London Spirit de Lord’s.
The majority of new investors in The Hundred have now agreed with revised terms with the ECB, after negotiations that will lead to the control of the guest sites of 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.
Certain details relating to future distribution rights have not yet been completely finalized.
Surrey CCC and the ECB refused to comment, while Rise Worldwide could not be joined to comment.