Arthur Crabtree wrote:Surely the risk is asset stripping. Is there anything to stop buyers from selling off the land and other property. Or loading the club with debt which they take as profit.
In Hampshire and Durham's case, they are privately owned clubs that can operate as normal businesses, but I honestly do not know what restrictions are in place in terms of easements on the land or protections on the stadiums to retain cricket, although it has been announced that the Indian group bought the Rose Bowl as part of the deal and now own it. All other clubs are member controlled, and have to have a super majority to demutualise from the old society business models in order to sell, with a de facto owner being limited to loaning clubs money and controlling them under certain restrictions (a la Yorkshire). Of course, the ECB has a legal responsibility to make cricketing and not business decisions, but the two have not been separate considerations for a long time, and high risk pursuit of profit even in the form of foreign outside control is now seen as preferrable to protecting historic legacies or competitions. Id love someone to take the ECB to court and hold them to account for this, because their job is not to make money at the determent to the very existence of the county game.
The thing that really feels like a gut punch is, Hampshire back 20 years ago were facing extinction due to not having a viable ground and debts. Sport England and lottery money paid for the Rose Bowl development, and Hampshire was essentially gifted to a rich benefactor who could cover the debts and keep them afloat. He then used his public funded stadium to host concerts, large events, test matches, built a golf course and other stuff on the land.... all of this was originally provided to the club for the public benefit, hence the funding. And now its been sold for 6 times its original value to a foreign investor to exploit profit from.
So great. Once again the public take the risk and pay for the great good.....and a couple of billionaires laugh all the way to the bank