Key date in The Hundred saga revealed as counties consider investment proposal

Stakes in each of the eight teams are set to be sold off by the ECB and distributed to the eight hosts as the journey towards private investment continues

The ECB is moving forward with plans to introduce private investment into The Hundred, with counties handed a deadline of May 10 to indicate if they accept a proposal regarding the sale of teams.

According to The Daily Telegraph, the ECB will sell its entire 49 per cent share in each of the eight franchises, up from a previously discussed figure of 30 per cent.

Related: Counties welcoming private investment in The Hundred better be sure what they're doing

They will, however, retain ownership of the competition.

The money raised, which the publication reports could be as much as £500 million, will be shared across the 18 first-class counties, MCC, and recreational cricket.

Counties have until May 10 to accept the proposals (Stu Forster/Getty Images)

The remaining 51 per cent share in each franchise will be given to the host team, who will then decide how much – if any – of their stake they put up for sale.

Related: Neglect of the county game is English cricket's get rich quick scheme

Ten per cent of the money raised from such a sale will be shared between other counties and MCC, with the host retaining the rest.

Warwickshire (Birmingham Phoenix), Middlesex (London Spirit), Lancashire (Manchester Originals), Yorkshire (Northern Superchargers), Surrey (Oval Invincibles), Hampshire (Southern Brave), Nottinghamshire (Trent Rockets) and Glamorgan (Welsh Fire) currently host Hundred franchises.

Join The Cricketer's brand new Whatsapp channel for the latest breaking news, comment and features - click here to become a member

Related Topics

• Counties welcoming private investment in The Hundred better be sure what they're doing