Cricket chiefs stage live 'super-over' shootout for Hundred stakes Bidders for stakes in English cricket's eight Hundred franchises will this week begin taking part in live auctions enabling them to submit binding offers at 15-minute intervals, Sky News has learnt.
Sources said on Wednesday that rivals contesting for franchises including the Oval Invincibles and London Spirit would be allowed to table new offers on the condition that they were at least £3m higher than the previous highest bid.
The England and Wales Cricket Board (ECB) hopes the structure of the process will encourage a lucrative bidding war, with its 49% stake in the Oval Invincible the first to be sold on Thursday.
Three further auctions, including that of London Spirit, will take place this week, with the remaining quartet to be auctioned next week.
People close to the process said they anticipated that the Ambani family, which owns the Mumbai Indians IPL team, was seen as the likeliest winner of the Oval Invincibles auction.
