Hundred 'can secure counties' futures'

Yahoo

a day ago

The millions generated by the sale of teams in The Hundred franchise should "secure the future of counties for a generation", says departing Leicestershire chief executive Sean Jarvis.
Richard Gould, chief executive of the England and Wales Cricket Board (ECB), told BBC's Test Match Special this week that Leicestershire would receive £28m following the sales which raised about £520m.
Speaking to BBC Radio Leicestershire, Jarvis said that was the figure he was expecting to arrive at the club - but warned it must be invested soundly.
"Financially it has been incredibly difficult for a club of our size to compete," he said.
"£28m is the figure that has been bandied about. We have no reason to not believe that and we should see £28m come to Leicestershire.
"Leicestershire can secure its future for more than a generation if it is spent wisely. The long-term can be really healthy and successful.
"What it must not do is fritter away the money - £28m can easily be wasted as you have seen in other sports."
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Jarvis announced this year that it would be his final one with the club.
He says the funds must be used to develop Grace Road into a facility that can make money all year round and secure the county's long-term future.
"Our debts are around £2m - this money will allow the club to get rid of those debts," he said.
"What you do with that money is a club decision and the members should have a say. In the next five years they have to decide what it is they can build here that can generate income for the club.
"The vision is there, but Leicestershire can't survive on playing cricket at the ground for 60-odd days a year. They have to make the ground state of the art, and one that can generate money."