English cricket’s governing body will on Wednesday hail a landmark moment for the sport when it announces that three-quarters of the deals to bring in new investors to The Hundred have been completed.

Sky News understands that the England and Wales Cricket Board (ECB) plans to issue a statement confirming that it has received proceeds from the sale of stakes in Birmingham Phoenix, London Spirit, Manchester Originals, Northern Superchargers, Southern Brave and Welsh Fire.

The two other franchise deals – involving the Oval Invincibles and Nottinghamshire’s Trent Rockets – will be completed on October 1, the ECB is expected to say.

One insider said a statement was likely to be issued on Wednesday, although they cautioned that the timing could slip.

When all eight deals are concluded, they will generate a collective windfall of £520m for the sport’s strained coffers.

Last week, Sky News revealed that unresolved talks between India’s richest family and Surrey County Cricket Club – which hosts the Oval Invincibles Hundred team – were threatening to delay the delivery of a vast windfall for the sport.

One of the outstanding issues relates to the name under which the Oval Invincibles will play in future years, with the Ambani family keen to use a derivative of the Mumbai Indians brand that it also owns.

This week’s announcement will come after months of talks after the ECB and the eight Hundred-playing counties agreed exclusivity periods with their preferred investors.

The backers include some of the world’s most prominent financiers, billionaires and technology executives.

Following protracted talks, the ECB has agreed to revised terms with the investors, with host venues now retaining control of their teams’ intellectual property rights.

The investors will also hold an effective veto over future expansion of the Hundred, while the ECB will be barred from launching any other short-form professional version of the sport while the Hundred remains operational.

Meanwhile, the governing body will retain full ownership of the competition itself as well as controlling the regulation of it and the window within which it can be played each year.

The ECB has been waiting for investors in the eight franchises to sign participation agreements since an auction in February, which valued the participating teams at just over £975m.

Some of the deals involve the investors owning 49% of their respective franchise, while India’s Sun TV Network has taken full ownership of Yorkshire’s Northern Superchargers.

The proceeds of its stake sales will be distributed to all of English cricket’s professional counties as well as £50m being delivered to the grassroots game.

The windfalls are being seen as a lifeline for many cash-strapped counties which have been struggling under significant debt piles for many years.

The most valuable Hundred sale saw a group of technology tycoons, including executives from Google and Microsoft, paying about £145m for a 49% stake in Lord’s-based London Spirit.

This year’s tournament kicks off next week with fixtures including a clash between the two London-based franchises.

The ECB declined to comment.

British Palestinians have called Sir Keir Starmer’s decision to recognise Palestine as a state if Israel does not abide by conditions “absurd and performative” – and will not allay concerns about people in Gaza.

After recalling his cabinet ministers from parliamentary recess on Tuesday, the prime minister said the UK will recognise a Palestinian state by September if Israel agrees to end the “appalling situation in Gaza”.

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The British Palestinian Committee (BPC), which represents the experiences of Palestinians in the UK, sent Sir Keir a letter ahead of the meeting urging him to take actions they said could make a real difference to people in Gaza.

They had urged him to not recognise Palestine as a state without taking measures to “end the genocide” in Gaza, calling it “symbolic” and said it “must not be used to deflect from accountability”.

After Sir Keir announced his plan to recognise Palestine, Dr Sarah Husseini, BPC director, told Sky News the plan is “absurd while Israel continues to exterminate and starve women, men and children”.

She added: “What is needed is urgent accountability for the genocide in Gaza and an end to UK military support to the state committing these crimes.

“This performative announcement does little to allay the concerns of Palestinians in this country. It will not relieve the government of its legal duties, and it will not silence the calls from the British public to end British complicity in the atrocities being livestreamed to their phones.”

The war has now been going on for 21 months after it was sparked by Hamas militants killing 1,200 Israelis and taking 250 hostages on 7 October 2023. The militant group still holds 50 hostages, of whom only 20 are believed to be alive.

Sir Keir had been under pressure from his own MPs and other UK political parties, notably since France last week said it will recognise Palestine as a state, but had resisted – saying recognition needs to be part of a wider peace plan.

He has also refused to say whether “genocide” is taking place in Gaza – a claim Israel has vehemently denied.

Israel paused fighting in three areas for another 10 hours today to help aid distribution, the third day it has done so amid mounting international condemnation of the scenes of hunger unfolding in Gaza.

David Mencer, a spokesperson for the Israeli government, said: “There is no intent, (which is) key for the charge of genocide… it simply doesn’t make sense for a country to send in 1.9 million tonnes of aid, most of that being food, if there is an intent of genocide.”

Israel also rejected Sir Keir’s plan and accused him of pandering to his MPs and the French.

The Israeli foreign ministry said: “The shift in the British government’s position at this time, following the French move and internal political pressures, constitutes a reward for Hamas and harms efforts to achieve a ceasefire in Gaza and a framework for the release of hostages.”

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In the BPC’s letter, it had said the government has “not only a political and moral obligation, but a legal obligation” to take three steps.

They are:

• Preventing and punishing Israel’s “genocide” in Gaza and to end “all complicity in it”

• Apply “immediate and comprehensive sanctions on Israel”

• Safeguard the rights to freedom of expression and assembly in the UK

More specifically, the group called on Sir Keir to end “all forms of military collaboration, urgently review all public contracts to ensure they are not aiding unlawful occupation or genocidal acts, and support universal jurisdiction mandates”.

The group said these steps would help towards ending the starvation crisis in Gaza, which it said had been made possible “due to the impunity granted to” Israel and “compounded by the active military, economic and diplomatic support from states such as the UK”.

They also accused the UK government of introducing “draconian legislation to limit the rights” of British citizens campaigning to end the atrocities “and British complicity in those atrocities”.

Nigel Farage has demanded an apology from a cabinet minister who claimed his opposition to online safety laws meant he was “on the side” of predators including the late Jimmy Savile.

The Reform UK leader said the comments by Peter Kyle, the science and technology secretary, were “disgusting” and urged him to retract his statement.

In a broadcast from Reform UK’s London headquarters, Mr Farage played back Peter Kyle’s comments, made to Sky News, and said they were “so below the belt”.

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“Well this is so absolutely disgusting that it’s almost beyond belief,” he said. “Just how low can the Labour government sink in its desperation.

“Yes, of course they’re in trouble. They’re well behind us in the opinion polls. But frankly, to say that I would do anything that would in any way aid and abet people like Jimmy Savile, it’s so below the belt.”

He was joined in his condemnation by former Reform chair Zia Yusuf.

“It’s one of the most outrageous and disgusting things a politician has said in the political arena that I can remember,” he told Wilfred Frost on Sky News.

“What it also shows is Labour have no idea how the internet actually works, which is why they aren’t willing to admit this act, despite its name, is actually going to make children less safe.

“It also shows how deeply unserious they are about child safety. Labelling that allegation, talking about Jimmy Savile in that way, does nothing other than denigrate the victims of Jimmy Savile.”

Mr Kyle claimed to Wilfred Frost on Sky News Breakfast that Mr Farage’s opposition to the Online Safety Act, which aims to restrict children’s access to harmful content online, meant he was “on the side” of “extreme pornographers”.

He accused Mr Farage of wanting to “turn the clock right back” after the Reform leader vowed to repeal the act over free speech concerns.

“I see that Nigel Farage is already saying that he’s going to overturn these laws,” he said.

“So you know, we have people out there who are extreme pornographers, peddling hate, peddling violence. Nigel Farage is on their side.

“Make no mistake about it, if people like Jimmy Savile were alive today, he’d be perpetrating his crimes online. And Nigel Farage is saying that he’s on their side.”

Asked to clarify his comments, Mr Kyle said: “Nigel Farage is on the side of turning the clock back to the time when strange adults, strangers can get in touch via messaging apps with children.”

Shortly after Mr Farage’s response, Mr Kyle doubled down on his comments, posting on X: “If you want to overturn the Online Safety Act you are on the side of predators. It is as simple as that.”

The Labour Party also tweeted:” Nigel Farage wants to scrap vital protections for young people online. Reform offers anger but no answers.”

The Online Safety Act, which was passed in 2023, requires online platforms such as social media sites and search engines to take steps to prevent children accessing harmful content such as pornography or material that encourages suicide.

The rules of the act, which came into effect on 25 July, include introducing age verification for websites and ensuring algorithms do not work to harm children by exposing them to such content when they are online.

Failure to comply with the new rules could incur fines of up to £18m or 10% of a firm’s global turnover, whichever is greater.

At a press conference on Monday, Mr Farage and Mr Yusuf vowed to scrap the “dystopian” act, arguing it did “absolutely nothing to protect children” but worked to “suppress freedom of speech” and “force social media companies to censor anti-government speech”.

Describing the legislation as “the greatest assault on freedom of speech in our lifetimes”, Mr Yusuf vowed to repeal the act “as one of the first things a Reform government does”.

He also argued that children are circumventing age checks on adult websites using VPNs (Virtual Private Networks) to make it appear as if they are located outside the UK.

He also said such restrictions would push children to the dark web.

“Sending all of these kids onto VPNs is a far worse situation, and sends them much closer to the dark web, where the real dangers lie,” he said.

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Asked what he would do to protect children online, Mr Farage acknowledged he did not have “a perfect answer” but said his party had “more access to some of the best tech brains, not just in the country but in the world” and would “make a much better job of it”.

The Online Safety Act was introduced in part to make the internet safer for children following the death of Molly Russell, whose inquest found that she died from “an act of self-harm while suffering from depression and the negative effects of online content”.

Andy Burrows, chief executive of the Molly Rose Foundation, said scrapping the act “would be a retrograde move that would not only put children at greater risk but is out of step with the mood of the public”.

Anyone feeling emotionally distressed or suicidal can call Samaritans for help on 116 123 or email jo@samaritans.org in the UK. In the US, call the Samaritans branch in your area or 1 (800) 273-TALK