Following recent financial troubles, the England and Wales Cricket Board has nearly secured a major long-term paycheck.
The ECB is “closing in” on signing a lucrative media rights extension with Sky Sports, according to The Times. The current rights, signed in 2017 and running until 2024, reportedly pay out about $289 million annually.
- The deal, which would run through 2034, wouldn’t yield much more than the current agreement’s annual price tag.
- But the decade-long extension is a major plus for the organization.
- As part of the new deal, the BBC will continue to receive some match rights — and potentially more of The Hundred tournament than the current agreement allows.
One potential snag? Buttoning up the deals with counties, which reportedly want to keep rights to matches Sky Sports doesn’t air so they can partner with social media streamers like Facebook.
The ECB is trying to battle back from the major losses it suffered due to the pandemic. For the year ending Jan. 31, 2021, the organization reported losses of $21.1 million.
CEO Tom Harrison, who will step down soon, hopes the deal could help stabilize the organization’s financial future, The Times reported.