The ECB must handle challenging financial and cricketing issues to ensure its success while working to make it the second-biggest cricket league following the IPL. The cricket community is divided by the England and Wales Cricket Board’s (ECB) decision to reject a massive £800 million (Rs 8,366 crore) bid from former IPL commissioner Lalit Modi to purchase its franchise-based competition “The Hundred.”
Lalit Modi was banned for life by the Indian Cricket Board in 2013. According to reports, Lalit has a buyout plan that would take ten years and be funded by private investors. The expanding interest in “The Hundred” was demonstrated by the comparable offer for a 75% stake made by the Bridgepoint Group around 2023, which was followed by this noteworthy one.
The ECB was uneasy despite the generous offer. According to sources, a big factor in the decision was their concern that Lalit Modi’s previous controversy would damage their association with the influential Indian Cricket Board.
Lalit Modi was accused of “serious misconduct and indiscipline” throughout the process of bidding for both new IPL franchises. As a result, the Indian Cricket Board banned him for life in 2013. He then departed from India and has been living in London since that time.
The ECB is still considering alternative possibilities even though it rejects Modi’s idea. One tactic being considered is selling the ownership of the competition while keeping equity in individual teams. By this method, they want to generate about £100 million.
Why does Lalit Modi want to invest in the Hundred?
A 10-team competition with a team payment exceeding USD 10 million every year was Lalit Modi’s idea. Over a ten-year period, the competition was predicted to be worth USD 100 million yearly.
According to cricket reports, Lalit Modi suggested changing “The Hundred” into a conventional Twenty20 format. But the aim would be to have it with a greater emphasis on English management and ownership. He even proposed restricting the number of Indian teams that IPL franchisees may own to two.
