2024-07-25 23:34:36
IPL stands for money jingle. It has spread beyond India. A few IPL franchises have also formed teams in foreign leagues. This time, the interest of the IPL owners in buying the team in England’s hundred ball tournament ‘The Hundred’ is being heard.
However, England and Wales Cricket Board (ECB) has blocked this interest of IPL owners. According to the report of several foreign media, including the Indian website ESPN Cricinfo, the ECB wants to give 51 percent ownership to franchisees and sell the remaining 49 percent in the proposed model.
And the rich can invest in this 49 percent ownership. IPL franchise owners have shown mixed reactions to such ownership. The owner of an IPL-winning team commented, ‘All the other franchises we have invested in, we own 100%. When taking joint ownership, many accounts of the franchise come to the fore.
Teams in T20 leagues are formed for profit. Another owner commented on how much he would benefit financially from the new rules of the ECB, ‘Who would be interested in taking responsibility if there is 49 percent ownership? What do you invest in? probably not I have no answer.’
The fourth season of ‘The Hundred’ kicked off yesterday with a match between Birmingham Phoenix and Oval Invincibles. Apart from the two teams, London Spirit, Manchester Originals, Northern Superchargers, Southern Braves, Trent Rockets, Welsh Fire – these 6 franchises are also playing in the tournament.
It should be noted that IPL owners also have stakes in West Indies’ Caribbean Premier League (CPL), South Africa’s SA Twenty, Major League Cricket (MLC), United Arab Emirates-based franchise IL T20.
Under the ownership of Chennai Super Kings, there are teams in two tournaments – the SA Twenty20 and the MLC – which started last year. RMI New York, MI Cape Town, MI Emirates – these three franchises are running under the ownership of Mumbai Indians of IPL.