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The England and Wales Cricket Board (ECB) has received a £400m private equity approach that would see it relinquish majority ownership of The Hundred while raising funds to inject into the sport’s cash-strapped counties.

Sky News has learnt that the governing body has in recent weeks been handed an offer from Bridgepoint Group, the London-listed buyout firm, to buy a controlling stake in the newest format of the game.

A source close to the ECB said this weekend that Bridgepoint had proposed buying a 75% stake in The Hundred, potentially injecting £300m of new money into English cricket.

Allan Leighton, the serial company chairman who has worked with Bridgepoint on a number of its investments, is said to have been working with the firm on developing its proposed offer.

A bid was unlikely to succeed at the current time, the source added.

If the deal were to progress, each of the 18 counties which make up the sport’s domestic bedrock would receive a substantial sum at a time when many of them have seen their financial struggles deepen in the wake of the COVID-19 pandemic.

One insider described the offer from Bridgepoint as “game-changing”, and suggested it was likely to win widespread support from county chairs.

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The ECB’s response, however, is expected to be cooler, with a new leadership team likely to adopt a more sceptical approach to handing over control of the sport’s newest money-spinner.

Richard Thompson, the former Surrey County Cricket Club chairman, was recently installed as the ECB chair, saying he wanted it to become “the UK’s most inclusive sport”.

He has overseen the appointment of his former county colleague, Richard Gould, as the governing body’s new chief executive.

Mr Gould, a former chief executive of Bristol City Football Club, was an outspoken critic of The Hundred during his tenure at Surrey.

Coincidentally, the 2022 edition of the 100-ball format saw the Oval Invincibles – based at Surrey’s home ground – win the women’s tournament, while the Trent Rockets were crowned men’s champions.

According to the ECB, more than 500,000 people attended matches across this year’s competition, with a record 271,000 attending women’s matches.

More than 14m watched at least some of the tournament on Sky Sports – which shares a parent company with Sky News – and the BBC, the ECB added.

Sanjay Patel, managing director of The Hundred, said in September: “It’s been brilliant to see more families, more kids and record numbers attending the games this year.

“The Hundred is all about welcoming more people into cricket, and it has delivered on that again this year.”

Bridgepoint’s interest in taking control of The Hundred would be designed to “turbocharge investment” into English cricket, and especially into developing the women’s game, according to one person familiar with its offer.

The private equity firm has a long track record of investing into elite sport, having owned MotoGP for years as well as InFront, the media rights agency which helped to orchestrate the commercial development of the Winter Olympics.

More recently, it proposed a deal that would have seen it invest in the Women’s Super League in football, although talks failed to result in a formal agreement.

Bridgepoint’s offer for The Hundred has emerged at a time when deep-pocketed Indian Premier League (IPL) franchises prepare to snap up leading English players including the England test captain Ben Stokes and his predecessor, Joe Root.

The county game’s finances have been parlous for many years, with many sceptical that 50-over cricket will survive in the long term.

Earlier this month, England were crowned T20 World Champions after beating India in the final in Melbourne, Australia.

Bridgepoint and the ECB both declined to comment.

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Ministers kick off search for new football referee

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Ministers kick off search for new football referee

Ministers are to kick off a search for the inaugural chair of the new football watchdog, even as it faces growing hints of opposition to its establishment from the Premier League.

Sky News has learnt that the Department for Culture, Media and Sport (DCMS) will launch the appointment process for the role at the Independent Football Regulator (IFR) as soon as this week.

The chair, who is expected to be paid a six-figure salary, will be responsible for overseeing a landmark period in the English game.

The regulator will have three primary objectives, including promoting clubs’ financial sustainability and the financial resilience of English football as a whole.

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It will also be charged with safeguarding the heritage of clubs, including their badges and traditional playing colours.

The IFR will have the power to prevent clubs from joining breakaway competitions, inspired by the putative efforts of English football’s big six clubs to join a European Super League.

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Its establishment through primary legislation comes amid an ongoing impasse between the Premier League and English Football League about future financial distributions.

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Gordon Brown, the former prime minister, is among the names who have been touted as potential chairs of the IFR.

Last week, Richard Masters, chief executive of the Premier League, warned in an article for The Times that more intrusive regulation could “undermine the Premier League’s global success, thereby wounding the goose that provides English football’s golden egg”.

A DCMS spokesman declined to comment on Thursday morning.

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Boeing whistleblower claims 787 Dreamliner planes ‘defective’

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Boeing whistleblower claims 787 Dreamliner planes 'defective'

Crisis-hit Boeing has rushed to defend itself from fresh whistleblower allegations of poor practice, as the airline continues to grapple its latest safety crisis.

A Congressional investigation heard evidence on Wednesday on the safety culture and manufacturing standards at the company – rocked in January by a mid-air scare that saw an Alaska Airlines 737 MAX 9 flight suffer a panel blowout.

One Boeing quality engineer, Sam Salehpour, told members of a Senate subcommittee that Boeing was taking shortcuts to bolster production levels that could lead to jetliners breaking apart.

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He said of Boeing’s 787 Dreamliner, that has more than 1,000 in use across airlines globally including at British Airways, that excessive force was used to jam together sections of fuselage.

He claimed the extra force could compromise the carbon-composite material used for the plane’s frame.

“They are putting out defective airplanes,” he concluded, while adding that he was threatened when he raised concerns about the issue.

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Boeing quality engineer Sam Salehpour testifies during the Senate homeland security subcommittee hearing. Pic: AP
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Boeing quality engineer Sam Salehpour testifies during the Senate homeland security subcommittee hearing. Pic: AP

The engineer said he studied Boeing’s own data and concluded “that the company is taking manufacturing shortcuts on the 787 programme that could significantly reduce the airplane’s safety and the life cycle”.

Boeing denied his claims surrounding both the Dreamliner’s structural integrity and that factory workers jumped on sections of fuselage to force them to align.

Two Boeing engineering executives said this week that its testing and inspections regimes have found no signs of fatigue or cracking in the composite panels, saying they were almost impervious to fatigue.

The company’s track record is facing fresh scrutiny amid criticism from regulators and safety officials alike in the wake of the incident aboard the Alaska Airlines plane.

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What’s going on at Boeing?

It has become a trust issue again after the worst period in Boeing’s history when two fatal crashes, both involving MAX 8 aircraft, left 346 people dead in 2018 and 2019.

All 737 MAX 8 planes were grounded for almost two years while a fix to flawed flight control software was implemented.

A separate Senate commerce committee heard on Wednesday from members of an expert panel that found serious flaws in Boeing’s safety culture.

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Boeing CEO: ‘We fly safe planes’

One of the panel members, MIT aeronautics lecturer Javier de Luis, said employees hear Boeing leadership talk about safety, but workers feel pressure to push planes through the factory as fast as they can.

In talking to Boeing workers, he said he heard “there was a very real fear of payback and retribution if you held your ground”.

Pressure on Boeing to focus on safety has included restrictions placed on production, limiting its manufacturing output.

At the same time, it is still facing three separate investigations by the Federal Aviation Administration, the Justice Department and the National Transportation Safety Board relating to the panel blowout.

A management shake-up announced amid the inquiries will see the chief executive depart the company by the year’s end.

Sky News has approached British Airways for comment.

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A whiff of wishful thinking about Hunt’s declaration of economic ‘soft landing’

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A whiff of wishful thinking about Hunt's declaration of economic 'soft landing'

It’s not quite a Mission Accomplished moment – the equivalent of that day in 2003 when George W Bush stood on an aircraft carrier and prematurely declared the Iraq war was over.

But Jeremy Hunt’s declaration in our interview in Washington DC that he had achieved a “soft landing” in the economy certainly has a whiff of wishful thinking about it.

Economists spend much of their time dreaming that, following a crisis, or a set of crises, they will be able to engineer a slow glidepath, ensuring there is no painful economic catastrophe. Yet it rarely actually happens.

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In the UK’s case, most economists would hesitate before describing Britain’s situation as a “soft landing”.

The economy is, after all, still formally in recession. At best, gross domestic product is flatlining.

Factor in population growth, and it’s shrinking quarter after quarter.

Yet the chancellor was at pains to insist today that, in fact, the outlook is strikingly positive.

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‘Economy has turned a corner’

Of course, that confidence comes as he gears up for an election in which the economy is likely to be centre stage.

The polling suggests the Conservatives are heading for a decisive loss, and the absence of an economic “feel good factor” isn’t helping.

So one can understand why he wants to paint the picture of a strong economy.

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Yet peer at the data and it’s hard to share his confidence.

With interest rates still at 5.25% and inflation still above target, the squeeze families have been facing in recent years has barely abated.

The UK is expected to grow at a slower rate than nearly every other G7 economy this year, according to the latest International Monetary Fund forecasts.

Yet the chancellor is not alone in clinging to optimism.

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Here in Washington, most central bankers and finance ministers are quietly hoping that all the economic and military challenges facing them – from war in Ukraine and the Middle East to China’s tensions with America – do not crystallise into something more horrifying and all-encompassing.

They, like Jeremy Hunt, would much rather keep on talking about soft landings.

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