Image Source: X – Lalit Modi
[Saba Sports News] The England and Wales Cricket Board (ECB) has rejected a 10-year offer from ex-IPL chief Lalit Modi for ‘The Hundred’, aiming to keep good relations with the Board of Control for Cricket in India (BCCI).
Residing in London after a 2013 BCCI ban, Modi sought to run ‘The Hundred’ from July 1 to August 15, proposing private investment for a decade-long partnership. However, the ECB, after discussions involving Vikram Banerjee and Richard Gould, decided against moving forward with Modi’s proposal.
ECB chairman Richard Thompson indicated they would consider bids in the “few billion” range, leading to a strategy of selling team equity while keeping competition ownership. The ECB’s decision reflects concerns about maintaining autonomy over ‘The Hundred’ and avoiding potential conflicts with the BCCI, especially considering past offers like Bridgepoint Group’s GBP 400 million bid for a 75% stake.
Modi, projecting ‘The Hundred’s’ annual value at USD 100 million, aimed to transition the tournament to a Twenty20 format with a USD 10 million team budget, comparing closely but lower than the IPL’s. This move was part of his broader strategy to attract investors for a revamped 10-team competition.