ESPNcricinfo understands that the winning bid valued 100% of the Fire at approximately £65 million, implying Govil will pay a minimum of £31.85m for his minority share in the team. He will now enter a period of exclusivity with Glamorgan, the Fire’s host county. The two parties will negotiate contractual details with the help of the ECB and their advisors over the next eight weeks.
Glamorgan told their members earlier this month that they intend to retain their 51% controlling stake in Welsh Fire. The club is understood to have favoured Freedom’s bid from the outset, because their plans have included raising the profile of Welsh cricket more broadly.
Govil is the chairman of two tech companies in the US, Infinite Computer Solutions and Zyter. Two years ago, he made his first substantial cricketing investment by buying Washington Freedom in Major League Cricket and the franchise won the title in their second season, with Ricky Ponting serving as head coach.
More to follow…
Source: ESPN Crickinfo