IPL Franchises told to sign Non Disclosure Agreement by The Hundred

In a recent development, the England and Wales Cricket Board (ECB) is accelerating efforts to privatize The Hundred. The ECB has been pushing the Indian Premier League franchises and other investors to sign a Non-Disclosure Agreement (NDA) before they can access confidential financial details.

The England and Wales Cricket Board has hired two agencies, Deloitte and Raine Group, to fast-track the privatization process of The Hundred.

These agencies will discuss with IPL franchises about potential investments in the eight teams of the 100-ball tournament or the associated counties.

The agencies are asking IPL franchise owners to sign a Non-Disclosure Agreement before they receive an Information Memorandum (IM).

This UN document details the seller's property, especially financial information. The England board aims to share the IM only after the NDA is signed.

It's A Standard Practice To Require NDAs - ECB Spokesperson

The BCCI has never forced IPL franchise owners to sign Non-Disclosure Agreements in the past 17 years.

In contrast, the ECB mandates NDAs for access to the Information Memorandum, which contains sensitive financial details. An ECB spokesperson stated that requiring NDAs is standard practice.

"It's a standard practice to require NDAs, given that the IM includes financial information," an ECB spokesperson told Cricbuzz on Thursday, confirming the ECB's insistence.

The GMR Group, co-owners of Delhi Capitals, has reached an agreement with Hampshire County. IPL teams, including Kolkata Knight Riders, Mumbai Indians, Rajasthan Royals, Chennai Super Kings, SunRisers Hyderabad, and Lucknow Super Giants, are interested. Royal Challengers Bengaluru is also reported to be interested.

It's A Question We Need To Ask Ourselves - IPL Team Owner Sanjiv Goenka

IPL teams are reviewing the benefits of signing the NDA required by the ECB.

Lucknow Super Giants owner Sanjiv Goenka expressed interest in understanding the ECB's true intentions behind the NDA. He questioned whether the ECB aims to grow the sport or enhance brand value.

"(Signing) NDA is all right, you can do all that. But at the end of the day, how serious you are depends upon what the terms and conditions are. So you are in it for what? You are in it for your value to go out. You are in it for the love of the sport," Sanjiv Goenka told Cricbuzz.

"You are in it to play a small role in developing the sport. And if you do not, if you cannot control that, or if you cannot guide that, then is there a purpose? I think it's a question we need to ask ourselves. If you can, then, of course, it's a different story," Goenka added.

Birmingham Phoenix, London Spirit, Manchester Originals, Northern Superchargers, Oval Invincibles, Southern Brave, Trent Rockets, and Welsh Fire participated in four editions of The Hundred. Details on which team is bought and the share amounts are expected to be revealed next month.

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