‘ECB is trying to deceive people’: Lalit Modi raises alarm over IPL owners’ plans to invest in The Hundred | Cricket News

Lalit Modi (AFP file photo)

NEW DELHI: Former Indian Premier League chairman and founder Lalit Modi has warned potential investors, especially from India, about the Indian Premier League’s predictions England and Wales Cricket Board (ECB) concerning The Hundred Tournament.
The ECB plans to privatize The Hundred by selling nearly 100 percent of the shares in the league’s eight teams.
Birmingham Phoenix, London Spirit, Manchester Originals, Northern Superchargers, Oval Invincibles, Southern Brave, Trent Rockets and Welsh Fire are the eight teams in The Hundred and several IPL franchise owners including Mumbai Indians, Kolkata Knight Riders, Chennai Super Kings, Lucknow Super Giants, Delhi Capitals, Sunrisers Hyderabad and Rajasthan Royals are reportedly interested in buying a share in ECB’s 100-ball tournament.
“They are trying to build hype in a tournament that is basically not worth it in the way they have presented it,” Modi told Cricbuzz.
The Hundred has completed four seasons.
The ECB has forecast a significant increase in revenue from media rights contracts.
The English board expects to earn 1.8 million pounds (around 20 crore rupees) from next year to 2028, with forecasts for growth of over 800 percent in 2029, when revenue from the Indian market is expected to reach 15 million pounds (around Rs 160 crore). .
Only Indian female players take part in the competition, not the men.
On the domestic market, the ECB currently earns £38m a year and expects this to rise by 125 per cent to £85m in the 2029-32 cycle.
“For the next media rights cycle, the ECB and The Hundred teams will consider whether to market The Hundred as part of a wider British cricket package or as a standalone product. If included in a broader package, revenue allocation to The Hundred will be determined according to a fair and transparent model using industry-standard metrics,” the document seen by Cricbuzz says.
The document adds that the rights for the 2025-28 cycle have already been sold to Sky Sports for £51m a year, with a further £3m a year expected from a free-to-air broadcast deal (FTA).
“Media rights in India: contract until 2028 with an average annual value of £1.8m – forecast assumes a new contract with an average annual value of £15.0m in 2029 as the world’s largest cricket market,” says the 87-page presentation. States. As the website reported on August 29, the ECB sought a non-disclosure agreement (NDA) from interested parties before sharing this information memorandum (IM).
Modi strongly rejected these forecasts, particularly those related to overseas markets. “They try to deceive people this way. International rights are worth zero. If you take away that number, you also remove the sponsorship increase. The international market is, in my opinion, a complete deception. If you look at all the leagues.” None of them are able to generate revenue from overseas markets – neither the SA20 (in South Africa), the Big Bash (in Australia), the ILT20 (in the UAE) nor the Caribbean Premier League (CPL).”
He revealed that the IPL was made available free of charge in the foreign markets for the first three years.
Modi also questioned the evaluation of a team. The document, titled Project Gemini Information Memorandum, does not mention the cost at which the ECB plans to sell the eight teams, but Modi claims the English board is expecting almost £300 million for one team.
“They’re hoping for a $300 million valuation. Therein lies the problem. You can buy the team for $5 million. For Lords, maybe you can imagine it and put it at $25 million. This is not a worthwhile endeavor.” ”
Modi revealed that the ECB wants the entire assessment to be paid in advance.
In contrast, IPL franchise payments were staggered over ten years. In a social media post on X (formerly Twitter), Modi had described the entire privatization effort as a pyramid scheme.

When contacted, the ECB declined to comment on revenue forecasts, team ratings or Modi’s assessment.
This information memorandum has been issued on behalf of the ECB to a selected number of recipients who have signed a confidentiality agreement. It said: “Investing in The Hundred is a rare opportunity to shape the future of a premier sports property and capitalize on its significant growth potential.”
ECB currently owns 100% of The Hundred competition and all of its teams
ECB will sell at least 49% of each of the eight teams to new investors who have the vision, experience and skills to take The Hundred to new heights
The ECB then plans to gift its remaining shares in each of the teams to their respective hosts, creating a lasting partnership between new investors and some of the world’s most famous cricket institutions.

As part of this process, the hosts also have the opportunity to sell part of their equity in the teams to the new investors, paving the way to a position of control
Governance, commercial and other aspects of the relationship between host, team and investor will be negotiated before closing to formalize the collaboration framework.”
The document confirms: “This information memorandum contains forward-looking statements that involve significant risks and uncertainties, and actual results and developments may differ materially from those expressed or implied by these statements as a result of various factors. These forward-looking statements speak only as of the date of this information memorandum.”
The IM adds: “The ECB reserves the right to modify or terminate the proposed transaction or to terminate negotiations with a potential buyer at any time and in any respect without giving any reason. In particular, the new operating model set out in This information memorandum is subject to change and the ECB reserves the right to change the equity structure of a team at any time before completion. By accepting this information memorandum, the recipient agrees to be bound by the foregoing limitations.