ECB announces cancellation of player contracts for the Hundred
The ECB has announced that they are canceling the contracts for all the players that were set to participate in the inaugural edition of the Hundred.
This move came after the ECB was forced to push back the start of the tournament to 2021, following the COVID-19 outbreak.
The ECB was forced to cancel player contracts in a bid to minimize its financial losses. In an official statement released by the ECB, the board confirmed that they had released a letter informing the players of the board’s decision and that it was legally required for the board to make this announcement.
It is reported that if players were still contracted with the team after till the end of the year, then they would have received 80% of their contract revenue.
The ECB was able to make such a call at this time due to the existence of a force majeure clause, that is present within the player contracts. This clause removes liability from both players and the board, in the case of an unforeseen circumstance, which currently being the viral outbreak.
It remains to be seen if the ECB provides the players with any financial incentive for missing out.