Venky Mysore, managing director of IPL team Kolkata Knight Riders, told the BBC investors will see this as a “challenge”.

It is understood that at least three of the eight hosts are planning on keeping their 51%, while at least two are looking to sell some of their share.

In return for their investment, new owners will have the opportunity to change the names, colours and branding of their teams.

ECB chief executive Richard Gould said part of the motivation for selling the teams was so The Hundred could raise the money to attract the world’s best players in a landscape awash with franchise leagues.

The English summer is facing an increasing challenge from Major League Cricket in the United States.

“We need to be able to ensure our best men and women players play and we can attract the best overseas players,” said Gould. “If we were to delay too much I think others may end up stealing a march on us.”

Banerjee added that the eight teams will not simply be sold to the highest bidders, explaining that partnerships between hosts and investors are a significant factor in eventual deals.

“I won’t say money is not important, because it is important, but alongside that are the skillsets that can support English cricket,” said Banerjee.

“Can we bring in the very best at fan engagement, at family audiences, digital and social media, who are the very best at driving women’s sport and cricket operations? Can we bring them together in one league, in one place?”