Lalit Modi, the visionary behind the Indian Premier League (IPL), has cast doubt on the financial viability of the England and Wales Cricket Board's (ECB) Hundred tournament. In a scathing post on social media, Modi leaked confidential financial projections and team valuations, accusing the ECB of being "disconnected from reality."
Modi's intervention comes as the ECB seeks private investment for the Hundred, which has faced delays in securing equity sales. Despite Modi's initial interest in the tournament, he now dismisses the ECB's projections as "dangerously overambitious and unsustainable."
Modi acknowledges the potential growth of the ECB's domestic TV rights but questions the Hundred's international appeal. He argues that the tournament faces stiff competition from established leagues like the IPL, Caribbean Premier League, and Major League Cricket.
"The Hundred's teams are projected to be worth a mere £5 million to £25 million in the best-case scenario," Modi wrote. "Worse still, it struggles to match even the Caribbean Premier League's profitability."
Modi's criticism is significant as he played a pivotal role in revolutionizing T20 cricket with the IPL. The IPL's media rights recently fetched a record US$6.2 billion, making it the world's second-most valuable sports league on a per-game basis.
The ECB has anticipated pushback on its financial projections but points to Modi's previous interest as proof of concept. However, Modi's latest comments raise concerns about the Hundred's long-term viability.
Tags: #TheHundred, #ECB, #LalitModi, #IPL, #CricketFinance
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