Richard Thompson, the head of the ECB, declines the alluring offer from Bridgepoint Group – ‘We will not sell the game short’. Bridgepoint Group’s bid to purchase a 75% share in The Hundred was met by a response from Richard Thompson.
Thompson, the head of the England and Wales Cricket Board. Responded to Bridgepoint Group’s offer by asserting that the value of the board’s marquee cricket event. The Hundred, is “a lot more” than £400 million.
A London listed buyout company called Bridgepoint Group. Had already offered to pay £400 million to purchase a 75% interest in the rivalry. The ECB’s newly appoint chair, Thompson feels that the price has perhaps “exaggerated.”. He also note that the competition, which is only two years old, is not being consider for sale by the management.
“The Hundred has created an awful lot of interest in private equity markets. Lucknow Super Giants in the IPL sold for nearly $1bn, so I would say a tournament is worth a lot more. We’ve got a long way to go before we do something. We will not sell the game short,”Richard said.
Richard Thompson said “I would expect more unsolicited offers”
The Bridgepoint Group was say to seek to buy a significant interest in The Hundred before the comments, which was expect to contribute another £300 million to English cricket’s budget. However, Thompson state that he was not shock by such a significant offer since he believes The Hundred is worth much more than £400 million.
“We have to take a competition like this very seriously. There is a feeding frenzy around world cricket and private equity so I’m not surprised we had an offer. It shows the interest that The Hundred and English cricket is generating so I would expect more unsolicited offers as well,”He said.
Through its media rights firm, InFront, the Bridgepoint Group has a history of investing in MotoGP and has observed the commercial growth of the Winter Olympics. In any event, it is now widely accept that the apex board would not sell the rivalry to a company because they quietly rejected the desire expressed by the London-listed corporation.