The England and Wales Cricket Board (ECB) has declined a whopping £800 million (Rs 8,366 crore) offer from former IPL commissioner Lalit Modi to buy their franchise-based tournament “The Hundred,” sparking mixed reactions in the cricket world.
Lalit Modi, who received a lifetime ban from the BCCI in 2013, proposed a 10-year buyout plan backed by private investors as per the Daily Telegraph. This significant offer followed a similar one from the Bridgepoint Group in 2023 for a 75% stake, highlighting the growing interest in “The Hundred.”
Concerns over BCCI backlash for ECB
Despite the lucrative offer, the ECB remained hesitant. Sources suggest fears of jeopardizing their relationship with the powerful BCCI due to Lalit Modi’s past controversies played a major role in the decision.
In 2013, Lalit Modi received a lifetime ban from the BCCI due to allegations of “serious misconduct and indiscipline” during the bidding process for two new IPL franchises. Following this, he left India and has resided in London ever since.
While rejecting Modi’s proposal, the ECB remains open to other options. Selling equity in individual teams while retaining ownership of the competition is one strategy being explored. They aim to raise around £100 million through this route.
Modi’s Vision for “The Hundred”
Lalit Modi had outlined a vision for a 10-team tournament, with a team purse of USD 10 million per season. The estimated valuation of the competition was set at USD 100 million annually over a decade.
Lalit Modi reportedly proposed converting “The Hundred” into a traditional T20 format with a stronger focus on English ownership and management. He even suggested limiting Indian influence by allowing ownership of only two teams by IPL franchises.
Future of “The Hundred”
Despite the rejection, Modi’s bid has raised questions about the future of “The Hundred.” While aiming to build it into the second-largest cricket league after the IPL, the ECB needs to navigate complex financial and cricketing considerations to ensure its success.
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