Private equity investors are being sought out to invest in the England and Wales Cricket Board's Hundred competition, with shares to be sold in individual teams.
In the upcoming week, Sky News reported, the ECB plans to hire financial advisors, with Goldman Sachs, Raine and Rothschild said to be in the mix as the governing body looks to generate an estimated £100 million, much of which will feed through to the 18 counties.
The sale aims to attract private investment into teams like the London Spirit, Northern Superchargers, Birmingham Phoenix Manchester Originals and Welsh Fire, with each host venue retaining a 51% stake in their team.
Major sports investors Interest have already been expressed their interest, including those involved with Indian Premier League teams.
ECB boss Richard Gould sees private investment in teams rather than competition-wide funding as the way forward, with an offer from private equity group Bridgepoint Group for a majority stake rejected as the ECB aims to maintain control.
The Hundred made a loss of £9 million in its first two years, according to a report by Fanos Hira, the accountant chairman of Worcestershire County Cricket Club, while being unpopular among cricket's traditional supporters.