ECB hunt for new Hundred sponsor as Cazoo steps away

Cazoo's decision comes amid considerable cost-cutting at the online second-hand car retailer, which has seen its stock price drop by more than 90 per cent over the past year

The ECB are searching for headline sponsors for three of its major domestic competitions, after Cazoo and LV= Insurance opted not to renew their deals with the governing body.

LV= will step away from their association with the County Championship at the end of 2023, while Cazoo will not stay on as title sponsor of The Hundred for this year.

Cazoo's decision comes amid considerable cost-cutting at the online second-hand car retailer, which has seen its stock price drop by more than 90 per cent over the past year.

Sponsorship deals with football club Aston Villa and the World Snooker Tour have also been scrapped, while the company's founder and chief executive Alex Chesterman will step down in April. 

^{Cazoo is stepping down as lead sponsor of The Hundred (Getty Images)}

^{Cazoo sponsored the competition for its first two years (Getty Images)}

The ECB will need to replace Cazoo in time for the new Hundred season in August. There is confidence within the governing body that there will be options. 

A spokesperson said: "We thank Cazoo for their great support over the first two years of The Hundred. We are really proud of the variety of partners who have helped establish The Hundred and throw cricket's doors open. We look forward to announcing more new partnerships as we get closer to the third year of the competition."

The departures of LV= and Cazoo follow in the wake of Royal London choosing not to remain as the sponsor of the men's 50-over One-Day Cup. 

The value of the Cazoo sponsorship to the ECB is not in the public domain, though it was estimated to be in the region of £3million per year by industry insiders in 2021.