Nine years ago, one county cricket chair admitted their club’s finances were so strained that they were literally counting toilet rolls. Even the introduction of the Hundred, which provided each county with an additional £1.3 million per year, barely made a dent in some cases. Rising costs, inflation, and longstanding debts meant that much of the extra income was quickly absorbed.
However, over the past ten days, the financial landscape for county cricket has changed dramatically. The sale of 49% stakes in six of the Hundred’s eight teams has already raised around £400 million, with investors for the remaining two expected to follow soon. This development has pushed the combined valuation of the eight teams toward the £1 billion mark, a milestone that will have lasting consequences for the game.
Under the terms of the sale, approximately 10% of the proceeds will go toward grassroots cricket, and even the 11 counties without a Hundred team are set to receive between £20 million and £27 million each. The England and Wales Cricket Board (ECB) has stated that these funds are intended to stabilize county cricket for the next 20 to 25 years. If successful, it could be a turning point for many clubs struggling with financial uncertainty.
At the same time, this injection of private investment marks a fundamental shift in English cricket’s power structure. Following the sale of Hampshire to India’s GMR Group last year, private capital is now flowing into the domestic game in return for access to marquee players, high-profile venues, and the prime summer cricket window. While non-host counties can now clear their debts and reinvest, the eight host venues must navigate new power dynamics.
Yorkshire, for example, sold the Northern Superchargers outright, while other teams retained 51% control. However, as one corporate lawyer involved in the deals noted, even where counties remain majority owners, their minority investors may end up exerting significant influence.
Teams such as the Oval Invincibles (now linked with Mumbai Indians), Manchester Originals (paired with Lucknow Super Giants), and Northern Superchargers (now under the Sunrisers Hyderabad umbrella) have become part of global franchise networks. This could increase the likelihood of top players signing year-round contracts with these franchises, potentially accelerating the decline of international cricket as a central focus.
There are many unanswered questions about how these new investors will approach their involvement. Will they be satisfied with the current four-week window, or will they push for an expanded competition? Will they support the women’s teams in their portfolios as enthusiastically as the men’s sides? Will the projected revenues match expectations? And will counties use their financial windfall responsibly, or will the influx of cash simply drive up wages and coaching costs?
As for the Hundred itself, the introduction of new team names and kits seems likely, given the trends in other franchise leagues like SA20. There is also increasing speculation that the format will eventually shift to Twenty20. Many within the cricketing world see this as both inevitable and necessary, aligning the competition with the global standard and making it more recognizable for traditional fans.
The Hundred has provided important lessons about visibility and inclusivity, helping to attract a broader audience. However, its format has often felt disconnected from the rest of the cricketing world. Reviews into England’s national team have repeatedly emphasized the need for domestic cricket to mirror the international game. The current divide between the Hundred’s structure and traditional formats has, at times, made it difficult for established fans to fully embrace.
If the competition transitions to T20, it may help foster the kind of tribal loyalty that has so far eluded the Hundred. While the ECB’s branding choices have painted them into a corner, a name change might be necessary to reflect the shift.
Cricket has consistently evolved over the past 150 years, but the move to 100-ball cricket has struggled to gain traction beyond England. The six-ball over format, introduced in the 1970s, has provided continuity between T20, one-day, and longer formats. Returning to T20 wouldn’t prevent broadcasters from displaying the number of balls remaining, but it would bring the Hundred in line with international competitions and grassroots cricket.
Ultimately, the financial boost from the Hundred auction provides counties with an opportunity, but how wisely they use this newfound wealth will determine whether it leads to long-term stability. The days of counting toilet rolls may be over, but what comes next will depend on careful investment and strategic planning.
