The revolt of Indian and American investors downloads mega-Francia sales of one hundred

The deadline for completing the Franchise Deal treatment of £ 520 million has been expanded by the Cricket England & Wales Board. According to Telegraph reports, it is learned that the dates have been moved again due to the push of the buyers of the two London franchises.

Reliance Industries, owned by the Ambani family of India, which acquired the invincible ovalables for £ 123 million, and Cricket Investor Holdings, the US Consortium of Technology Entrepreneurs who paid £ 295 million for the London spirit, have raised their concern about the participation agreement of the one hundred franchises.

ECB’s CEO Richard Gould will travel to India to discuss agreement with Reliance Industries

With Reliance Industries, who expresses his concerns, ECB’s CEO, Richard Gould, will travel to India to discuss the agreement with the new owners. The window to end the agreement has spread to eight weeks until after Easter.

The reports say that half of the buyers are happy and willing to sign, but the concerns posed by the buyers of the two London franchises have stopped on television offers and issues such as the sponsorship and the amount of saying that the owners will have in the future centenary of government.

It is aware that there are problems with the ECB sponsors and those brought by new owners along with programming clashes by 2028 and 2032 with the Summer Olympics, where the Cricket will be played for the first time in a long time.

To discuss with the Ambani family, the Cricket Board of England and Wales has participated in the lawyers of great power Latham & Watkins to act as Council in conversations with bidders. These are the same lawyers, who were formerly involved in the sale of Manchester United, and Chelsea’s acquisitions and a minority sale in Liverpool.

The one hundred franchises in Invincible Oval and London Spirit is not done

According to reports, it is aware that the offer of the one hundred franchises in Invincible Oval and London Spirit is not done. A source close to the Telegraph mentioned that two parts expressing their concern about the participation agreement is a “important problem” and that the owners “flex their muscles with the ECB”.

But the sources close to the ECB suggested that the offers are on the right track, that no one is “about to leave” and that investors only want “security” because they “put so much money in”. One of the problems that annoying bidders is the future of television rights.

Reliance Industries and Participations of Cricket Investors have questioned the ECB about why Cent TV rights cannot be undone

Currently, Sky Network has the rights to a hundred, and the agreement is until 2028. However, the ECB tries to keep control of the next 2028-2032 agreement, which they want to sell as a group and part of the participation agreement.

The owners, on the other hand, have questioned the ECB about why the television rights of one hundred cannot be undone and are sold separately to the best offering, which is how Cricket Rights Rights Offers work in India.

This causes the governing body to be disturbed when breaking the long -term relationship with Sky, it would reduce the value of test cricket rights in the process, which is an important part of the ECB’s income. It remains to see if the agreement ends or not.

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