ECB gives counties two-week ultimatum to accept £500m ‘lifeline’

Counties have been given two weeks to accept proposals from the England and Wales Cricket Board that could raise around £500 million and hand cash-strapped clubs a lifeline. At a meeting between chairs and chief executives of the 18 counties, MCC and ECB this week the governing body agreed to sell its entire stake in each franchise and split the money across the game, giving up any influence over the future franchises. Previously, the ECB had planned to sell 30 per cent of its 49 per cent share in each of the eight franchises (the host counties will be handed the other 51 percent). But in order to attract more investors and raise more money for the 18 counties and the game as a whole, the board has agreed to sell its entire share to private business in what will be the biggest shake up of domestic cricket for generations. The counties have been told to come back with a “non binding” agreement for the board to proceed by May 10, giving a three-week consultation period. The ECB hopes with approval on May 10, it will go to market in September and is expected to contract the Raine Group to...

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