(Reuters) – Yorkshire have become the first county cricket club to sell their entire stake in a Hundred franchise, British media reported on Wednesday.
Yorkshire confirmed they had entered into an exclusivity period with the Sun Group, owners of Indian Premier League side Sunrisers Hyderabad, for the sale of shares in the Leeds-based Northern Superchargers.
The Hundred is a 100-ball format league competition organised by the England and Wales Cricket Board (ECB) with eight franchises.
Former England allrounder Andrew Flintoff is head coach of the Northern Superchargers men’s team, who play at Yorkshire’s Headingley ground.
“Today is clearly a huge milestone for Yorkshire CCC, the Northern Superchargers and the Sun Group,” said Yorkshire CEO Sanjay Patel in a statement.
“But it is worth stressing that there is a lot of detail to be discussed alongside further due diligence and legal processes before a contract can be signed.”
The BBC and others reported the Sun Group had paid just over 100 million pounds ($124.97 million) for the stake.
($1 = 0.8002 pounds)
(Reporting by Alan Baldwin, editing by Toby Davis)
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