ECB trying to fool IPL franchises: Lalit Modi's colossal warning over The Hundred investment

Former chairman and founder of the Indian Premier League (IPL), Lalit Modi issued a huge warning to the franchise owners relating to the investment in The Hundred. He said that the England and the Wales Cricket Board (ECB) are trying to fool people by offering rights to the league.

England and Wales Cricket Board are keen to sell the rights of The Hundred. It is learned that they want to make the league private, and they reportedly are likely to sell close to 100 percent stake in the eight teams of the league.

There have been reports that owners of IPL franchises, including Mumbai Indians, Kolkata Knight Riders, Chennai Super Kings, Lucknow Super Giants, Delhi Capitals, Sunrisers Hyderabad and Rajasthan Royals, have expressed their desire to purchase the majority of the stake in the Hundred franchises.

By this England and Wales Cricket Board are likely to earn 1.8 million pounds (Rs 20 crore) from next year till 2028. This will see the governing body enjoying a massive growth of over 800 percent in 2029 when the projected revenue from the Indian market is 15 million pounds (Rs 160 crore).

But Lalit Modi believes that ECB is trying to build hype for the Hundred by presenting it the wrong way. He feels 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 ECB expecting a valuation of 300 million, saying that it is not worth it. While elaborating on the same, he explained (as quoted by Cricbuzz):

"They are trying to build hype in a tournament that is not worthwhile in the way they presented it. They're trying to fool people like this. International rights are worth zero. If you remove that figure, you remove the sponsorship increase.

"The international market is completely a hoodwink as far as I'm concerned. If you look at all the leagues, none of them can make any revenue from overseas markets - whether the SA20 (in South Africa), the Big Bash (in Australia), ILT20 (in UAE) or the Caribbean Premier League (CPL)."

"They are hoping to get a valuation of 300 million. That is where the issue lies. You can buy the team at $5 million. Maybe, for Lords, you can fancy it and put it for $25 million. It's not a worthwhile proposition." said Lalit Modi

It was to buy out the tournament in perpetuity - Lalit Modi on his offer to ECB about buying Hundred

Lalit Modi recently offered the ECB a billion dollars to buy the league. While talking about his offer, he said that he wanted to buy out the tournament in perpetuity, and he wanted to turn it into a 20-20 tournament.

He also believes that the ECB is trying to fool the IPL owners by trying to make them buy rights in the league, which, according to him, has no justification. He added:

"Want to clarify about my billion-dollar offer? It was to buy out the tournament in perpetuity and the idea was to redo it as a T20 tournament. Not another new format the global audience has ZERO idea about. Secondly to unbundle it from the ECB media rights. Thirdly 100 per cent ownership.

"Fourthly distance from the struggling Hundred competition, which comes with its baggage. My concern now is that they are trying to lure current IPL owners into this non-starter league and build a hype around it that has no justification or guarantees on numbers (sic)," Lalit Modi concluded.