By BBC (Sports) | Created at 2024-10-29 22:08:25 | Updated at 2024-11-06 03:42:04
1 week ago
Marylebone Cricket Club members have voted to accept a 51% share in London Spirit before the forthcoming sale of franchises in The Hundred.
The vote came after a Special General Meeting convened by the MCC, who are the owners of Lord's, with 81.12% of the 6,037 valid votes cast in favour of taking a controlling stake in Spirit.
The England and Wales Cricket Board (ECB) has already begun the process of selling stakes in the eight franchises in the tournament.
As part of the process the eight hosts of The Hundred teams have a 51% stake, which they can sell or keep, with the remaining 49% in each team sold by the ECB.
An MCC spokesperson told BBC Sport that the club's Hundred steering group will "continue to work with the ECB over the sales process progress" on behalf of their committee.
They added that the MCC has the power to "exercise the club's right of veto regarding an investment partner" if required.
The ECB appointed the Raine Group and Deloitte to advise on the sales of The Hundred franchises earlier this year.
Money raised from selling the 49% stakes in each team will be distributed between the 18 first-class counties, the MCC and the recreational game.
