This month chief executive Richard Gould said the ECB was “starting to pursue” private investment in Hundred teams.

Revenue raised from the sale of the ECB’s 49% stake in The Hundred teams would be distributed between the 18 first-class counties, the Marylebone Cricket Club (MCC) and the recreational game.

The eight hosts that would receive a 51% stake in their teams are Lord’s (MCC/London Spirit), The Oval (Surrey/Oval Invincibles), Southampton (Hampshire/Southern Brave), Cardiff (Glamorgan/Welsh Fire), Trent Bridge (Nottinghamshire/Trent Rockets), Edgbaston (Warwickshire/Birmingham Phoenix), Old Trafford (Lancashire/Manchester Originals) and Headingley (Yorkshire/Northern Superchargers).

If the hosts sell some or all of their stake, they will indicate as such to the ECB and the sale will be managed centrally, probably this autumn.

There is no indication that The Hundred will expand from eight teams until at least the end of the current broadcast cycle in 2028.