The England and Wales Cricket Board (ECB) has claimed the near £1bn windfall from its Hundred auction represents "a seminal moment" that will protect the sport "for generations to come".
Investors from around the world have poured lavish sums into the game in return for stakes in eight city-based teams which have existed for just four seasons.
An exclusivity period is now taking place, during which terms will be finalised, with the ECB confident that a tranche of deals worth £520million in new investment will soon be signed off.
In total that values the sides at more than £975m, a figure that would once have been inconceivable in domestic cricket.
The proceeds will be fed straight back into the country's cricket network, with £50m set aside for recreational level and the rest split between the 18 first-class counties and the owners of Lord's, Marylebone Cricket Club.
Counties who do not have a Hundred team will receive a larger slice, while the hosts were gifted a 51 per cent share in their teams.
Reflecting on the potential impact of the investment, ECB chair Richard Thompson was brimming with enthusiasm.
"In the past few days, we've reached a seminal moment for cricket in England and Wales," he said.
"Four years after The Hundred was launched, we've now entered final discussions with eight strategic partners, each ready to invest in the competition's eight teams and help us take the competition and English and Welsh cricket to a new level - for the benefit of the whole of our game.
"Each of these partners shares a passion for the competition's success and cricket itself.
"They are global leaders in sport, technology, investment and commerce, aligned in our ambition to continue building The Hundred as a truly world-class sporting spectacle.
"This means vital support for county cricket, growing the women's game and inspiring even more children - and people of all ages - to pick up a bat and ball.
"Our aim now is to ensure the necessary steps are taken to finalise this process, in order to unlock the transformative impact that these new partners will bring to the competition.
"This will also secure the funding that will go directly to the professional counties and recreational game, underpinning the fabric of our county game and helping futureproof cricket's growth in England and Wales for generations to come."
PA
