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ECB Rejects Billion-Dollar Offer for the Hundred from IPL Founder Lalit Modi

The England and Wales Cricket Board has declined Lalit Modi's billion-dollar bid to buy the Hundred, citing concerns over control and relationship with the BCCI.

Overview

  • Lalit Modi, founder of the Indian Premier League, proposed a billion-dollar deal for the Hundred, aiming to transform it into a Twenty20 competition.
  • The ECB fears losing control of the peak cricket season and jeopardizing its relationship with the BCCI, leading to the rejection of Modi's offer.
  • Modi's plan included a 10-team tournament running from July 1 to August 15, with a team purse of up to $10 million every season.
  • The ECB has previously turned down a £400 million offer from the Bridgepoint Group for a 75% stake in the Hundred, preferring to sell equity in teams while retaining ownership of the competition.
  • Modi, exiled from Indian cricket, views the Hundred as a potential financial powerhouse, second only to the IPL, but the ECB remains cautious.