Lalit Modi, former president and founder of the Indian Premier League (IPL), issued a big warning to franchise owners regarding investment in The Hundred. He said the England and Wales Cricket Board (ECB) are trying to deceive people by offering rights to the league.
The England and Wales Cricket Board is interested in selling the rights to The Hundred. They are known to want to take the league private and are reportedly likely to sell close to 100 percent of the shares of the league’s eight teams.
There have been reports that IPL franchise owners including Mumbai Indians, Kolkata Knight Riders, Chennai Super Kings, Lucknow Super Giants, Delhi Capitals, Sunrisers Hyderabad and Rajasthan Royals have expressed their desire to buy the majority stake in Hundred franchises. .
In this way, the England and Wales Cricket Board is likely to earn 1.8 million pounds (20 million rupees) from next year until 2028. This will see the governing body enjoy a massive growth of over 800 percent in 2029, when the projected revenue from the Indian market will be 15 million pounds (160 million rupees).
But Lalit Modi believes the ECB is trying to generate enthusiasm for the Hundred by presenting them in the wrong light. He believes that international rights have no value and to validate his point he cited the examples of SA20, CPL, Big Bash and ILT20.
Lalit Modi also reacted to the ECB’s expectations of a valuation of 300 million, saying it is not worth it. While explaining the same, he explained (quoted by Cricbuzz):
“They are trying to create hype in a tournament that is not worth it in the way they presented it. They are trying to fool people in this way. International rights are worthless. If you eliminate that figure, you eliminate the increase in sponsorship .
“As far as I’m concerned, the international market is completely a scam. If you look at all the leagues, none of them can generate revenue in foreign markets, be it the SA20 (in South Africa), the Big Bash (in Australia )), ILT20 (in the United Arab Emirates) or the Caribbean Premier League (CPL).”
“They hope to get a valuation of 300 million. That’s the problem. You can buy the team for 5 million dollars. Maybe Lords will feel like it and put it for 25 million dollars. It’s not a worthwhile proposition,” said Lalit Modi.
It was to buy the tournament in perpetuity: Lalit Modi on his offer to the ECB to buy Hundred
Lalit Modi recently offered the ECB $1 billion to buy the league. While talking about his offer, he said that he wanted to buy the tournament in perpetuity and that he wanted to make it a 20-20 tournament.
He also believes that the ECB is trying to deceive the owners of the IPL by forcing them to buy rights in the league, something which, according to him, has no justification. He added:
“Do you want to clarify my billion dollar offer? It was to buy the tournament in perpetuity and the idea was to remake it as a T20 tournament. It is not another new format that the global audience has ZERO idea about. Secondly, separate it from the Rights of ECB press. Third, 100 percent ownership.
“Fourthly, the distance from the struggling Hundred competition, which comes with its baggage. My concern now is that they are trying to lure the current IPL owners into this non-tenured league and create a stir around she who has no justification or guarantees about the numbers (sic)”, concluded Lalit Modi.