ECB Rejects Lalit Modi Offer To Buy 'The Hundred'. Report Reveals Reason

 Unwilling to jeopardise its cordial relationship with the all-powerful BCCI, the England and Wales Cricket Board (ECB) has rejected a lucrative 10-year buy-out offer of their franchise-based property 'The Hundred' from former IPL commissioner Lalit Modi, the Daily Telegraph reported. Modi received a life ban from the BCCI in 2013 for "serious misconduct and indiscipline" related to bids for two new IPL franchises in 2010. Modi left India and has been living in London since then. Modi had planned the competition in peak English summer between July 1-August 15. "Modi's representatives met with Vikram Banerjee, the England and Wales Cricket Board's director of operations, who is de facto head of the Hundred, and chief executive Richard Gould to lay out a 10-year offer to buy the Hundred and fund it through private investment. However, the ECB will not be pursuing talks with Modi," the British daily reported.

The ECB isn't ready to completely let go its ownership on their flagship property but also at the same time is worried about potential pitfalls of a partnership as "dealing with Modi would jeopardise its relationship with the BCCI." It must be noted that the ECB had received a similar offer from the Bridgepoint Group worth GBP 400 million for a 75 per cent stake in 'The Hundred'.

"At the time, Richard Thompson, the ECB's chairman, said he would only consider offers of a “few billion” and since then the ECB has pursued a strategy of selling equity in the teams, with the board retaining ownership of the competition," the newspaper further reported.

Modi told Telegraph Sport that "he has lined up investors willing to pump money into a 10-team tournament but told the ECB the Hundred format does not work and should be