UP427 Lalit Modi Exclusive: “The Hundred is a non-starter”

The ECB is currently seeking investors for The Hundred franchises, the short form cricket competition and are selling a 49% stake that values them at up to £150m each. Today’s guest Lalit Modi disagrees. The founder of the Indian Premier League explains exclusively to Unofficial Partner why: “Based on the information memorandum a 100% stake in a team would be between £5m and £9m [for] outside London teams, and maximum, if one really wants a trophy asset, is London teams closer to £25m.”
Earlier this year, Modi was involved in a $1bn (£747m) offer to buy the entire competition – with the intention of turning it into a T20 tournament – which was rebuffed. When an unrelated bid of £400m for a 75% stake was also rejected last year Richard Thompson, the ECB’s chairman, said it would take a bid of “a few billion” to convince them to sell.

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