Indian Premier League founder Lalit Modi has labelled the Hundred competition a "big fat Ponzi scheme", accusing English cricket chiefs of unrealistic financial projections.The England and Wales Cricket Board (ECB) is seeking private investment in the 100-ball-per-side competition, which was launched in 2021.<\/p>\r\n\r\n
The Hundred, which involves men's and women's teams, has been controversial as it is not mapped onto the traditional county structure, but authorities say it brings much-needed TV revenue into the sport.<\/p>\r\n\r\n
A document distributed to investors and seen by Britain's Daily Telegraph newspaper says domestic TV rights would rise from a projected £54 million ($72 million) in 2025 to £85 million from 2029.<\/p>\r\n\r\n
The Telegraph said it is understood that Indian TV rights are projected to climb from £1.3 million to £1.8 million per year from 2026 to 2029, and then rocket to £15 million per year from 2030.<\/p>\r\n\r\n
This is despite the fact that Indian players are currently barred from franchise leagues outside of their own country.<\/p>\r\n\r\n
Modi, whose IPL has transformed the global cricket economy and spawned other Twenty20 competitions, said projections for the Hundred were far-fetched.<\/p>\r\n\r\n
"The ECB's financial projections for The Hundred, particularly beyond 2026, appear overly optimistic and disconnected from reality,” Modi said on X.<\/p>\r\n\r\n
"The international TV rights figures make little sense, given the global competition from other cricket leagues like the IPL."<\/p>\r\n\r\n
The Indian businessman previously offered to buy the Hundred.<\/p>\r\n\r\n
"Want to clarify about my billion dollar offer," he said on X. "It was to buy out the tournament in perpetuity and the idea was to redo it as a T20 tournament. Not another new format the global audience have ZERO idea about."<\/p>\r\n\r\n
He added: "My concern now is that they are trying to lure current @iplt20 owners into this non-starter league and building a hype around it that has no justification or guarantees on numbers. Basically a big fat #ponzischeme."<\/p>\r\n\r\n