Phoenix investor Wagner has 'confidence' in deal

Birmingham Phoenix's US investor Tom Wagner says he has "every confidence" a woody for nan Hundred franchise will beryllium finalised, and he remains "committed" to nan purchase.

Sales of shares successful nan 8 teams, worthy astir £520m, were announced by nan England and Wales Cricket Board (ECB) successful February.

But an eight-week exclusivity play to work together position was extended successful March, and location remains nary clarity connected erstwhile contracts will beryllium signed.

Wagner's Knighthead Capital agreed to salary £40m for a 49% stock successful nan Phoenix.

And speaking publically astir nan reasons down nan hold for nan first time, nan American told BBC Sport: "What everybody wants is nan expertise to make The Hundred moreover much commercially viable and to turn nan product.

"It really should spot much vulnerability globally, truthful I deliberation a number of nan conversations are astir really that happens and what timeframe, really that moves forward.

"There's a bully alignment of interests and, arsenic is nan lawsuit pinch immoderate negotiations, there's ever a spot of backmost and forth."

There is nary proposal that immoderate of nan deals will autumn through, nevertheless location is nan anticipation they will not beryllium completed earlier this year's version originates connected 5 August.

The ECB confirmed nan hold of nan exclusivity play much than 2 months ago.

At nan time, nan prospective buyers of nan 2 London franchises raised concerns complete nan competition's information agreement.

An American consortium of tech billionaires agreed to salary £145m for a 49% liking successful Lord's-based London Spirit, while India's richest family - nan Ambanis - purchased nan aforesaid liking successful nan Oval Invincibles for £60m.

There person besides been discussions complete nan waste of early TV rights. The existent United Kingdom TV deal, principally held by Sky, expires successful 2028. When it is renegotiated, authorities for The Hundred will again beryllium sold arsenic a complete package, alternatively than separated from world and different home cricket.

International TV rights, seen arsenic a cardinal area of growth, are piecemeal. Deals for abstracted competitions aliases bid originate astatine different intervals.

Wagner added: "I won't remark connected nan circumstantial negotiations but what I will opportunity is we're very excited astatine nan imaginable of investing successful nan Phoenix.

"We're committed to it, we're excited by it and I person each assurance we'll get to closing."

The Knighthead Group besides includes legendary NFL backmost Tom Brady. They are already owners of Birmingham City, and last week nan imaginable of a caller 62,000-seater stadium arsenic portion of a £3 cardinal 'Sports Quarter' took a important measurement forward erstwhile nan authorities confirmed £2.4bn finance successful carrier infrastructure.

Wagner, who founded Knighthead, said: "We deliberation it's a awesome opportunity. It shows our committedness to Birmingham, beyond simply Birmingham City Football Club.

"We really, genuinely want to spot Birmingham proceed to create and grow. The Phoenix is simply a awesome measurement to grow nan vulnerability of nan metropolis to a broader, much world audience. It's besides a measurement for america to tie-in to nan important southbound Asian organization that is present successful Birmingham."

Proceeds from nan income will beryllium shared among nan 18 first-class counties, Marylebone Cricket Club and nan home crippled successful England and Wales.

The ECB will clasp wide power of nan competition, but investors could alteration nan name, colours and branding of their teams. The American investor successful Welsh Fire has already said he would for illustration The Hundred to move to a T20 format.

Even if deals are completed earlier nan opening of nan 2025 competition, location is small alteration expected this year. Both nan ECB and nan investors spot it arsenic a transitional season.