The England and Wales Cricket Board have been searching for a new principal sponsor since being dropped by Cazoo and have confirmed a new deal three weeks for the third edition of the competition
The ECB have landed a new sponsor for The Hundred just three weeks before the third edition of the competition is scheduled to get underway.
Compare the Market, the online price comparison service, have agreed to a multi-year deal as the principal partner of the 100-ball tournament, which begins on August 1 with 68 matches across the men's and women's events.
Cazoo stepped away after a two-year association with the tournament earlier in the year after being forced into considerable cost-cutting measures.
It was also announced that LV= Insurance and Royal London, title sponsors of the County Championship and One Day Cup, were ending their association with English cricket at the end of the 2023 season.
It is a crucial development for the under-fire tournament. In April, it was revealed it has cost the ECB up to £60 million - including the £1.3m per year distributed to each first-class county and MCC - following an examination of the governing bodies' finances led by Worcestershire chair Fanos Hira.
The Hundred managing director Sanjay Patel (Tim P. Whitby/Getty Images for Sport Industry Group)
As part of the link-up, Compare the Market have pledged to "entertain families throughout the competition, with surprises from its characters, gaming stars and cricket's hottest talent". They have also "teamed up with leading online gamers to help engage new audiences in-ground and at home".
Managing director of The Hundred Sanjay Patel said. "Compare the Market are one of the most recognisable UK brands
"They will add even more fun and entertainment to go alongside the world-class cricket on show, and that is what The Hundred is all about.
"This partnership will spread the reach of cricket to more families across England and Wales, and we are looking forward to what Compare the Market has in store for the third edition of the competition in August."
Chief Executive Officer of Compare the Market Mark Bailie added: "Bringing together our entertaining brand with one of the most entertaining sports is an exciting partnership and we’re looking forward to revealing the plans we have in place to support this year's competition and beyond."
Welcome to www.thecricketer.com - the online home of the world’s oldest cricket magazine. Breaking news, interviews, opinion and cricket goodness from every corner of our beautiful sport, from village green to national arena.