The England and Wales Cricket Board (ECB) has been pressuring the Indian Premier League (IPL) franchises to sign a Non-Disclosure Agreement (NDA) before gaining access to sensitive and internal information pertaining to its finances, which has accelerated recent developments following the privatisation of The Hundred.
As a result, the ECB has appointed Raine Group and Deloitte as the two agencies responsible for advancing the current agenda. Both groups are currently having talks about investments in the eight teams of The Hundred or the counties in question with IPL franchises. The intention has therefore been to release the Information Memorandum (IM) only following the NDA signing by the IPL franchisees.
For those who are unaware, an IM is a document that contains all of the financial data related to the specifics of a seller’s asset. But in terms of the IPL franchises, the highest cricket-governing authority in India, known as the BCCI (Board of Control for Cricket in India), has never made an owner sign an NDA against their will. It’s interesting to note that the coveted Indian Premier League has been running for the past 17 years.
An ECB representative was cited as saying, “It’s standard practice to require NDAs, given that the IM includes financial information.”
“So, what are you doing here?” Is there a goal here? ECB’s NPA intentions: Sanjiv Goenka
The IPL clubs are reportedly reviewing the NDA’s contents to better comprehend the terms and conditions as intended by the English cricket board, according to other reports. In a similar spirit, Sanjiv Goenka, the owner of the Lucknow Super Giants, thought back on the process and was curious to learn the true purpose of the ECB behind the deal. Goenka in particular was curious to know if the foreign board was merely concerned with brand value and impression, or if they intended to grow the sport.
Also Read: It was Gautam Gambhir’s team, and LSG did not have analysts: Sanjiv Goenka
“You can sign the NDA; it’s okay to do that.” Ultimately, though, your level of seriousness will rely on the specific terms and conditions. So, why are you doing this? Your goal is to lose value by participating. You are participating because you love the sport. Your goal is to contribute in any tiny way to the growth of the sport. And if you’re not able to direct or control that, is there a reason for that? It’s a question we should ask ourselves, in my opinion. Naturally, it’s a different thing if you can,” the LSG club owner Sanjiv Goenka stated.
India
