CSK, KKR not convinced by The Hundred's business model: Report

Indian Premier League (IPL) franchises Chennai Super Kings (CSK) and Kolkata Knight Riders (KKR) had shown interest in acquiring a team in The Hundred, England & Wales Cricket Board's (ECB) latest format but are now having second thoughts, according to a report on Cricbuzz.

The portal reports that the franchises are not convinced by The Hundred's business model. "The concerns are being addressed, but they seem not too chuffed up about buying a team," said a source told Cricbuzz.

The main point of contention among the franchise is that the ECB's value prediction of GBP 34 million a year for the broadcast cycle 2029-32 is deemed unrealistic.

Royals Challengers Bengaluru (RCB), Punjab Kings (PBKS) and Gujarat Titans (GT) never showed interest in acquiring a team and have stayed away from the bidding process as well. It may not be all that of a bad news for the ECB, who do not want The Hundred to be an all-IPL affair. The ECB is believed to be eyeing the sale in a phased manner, keeping every bidder in the race until the very end.

"Once the successful bidder has been selected, they will enter a period of exclusive negotiations before the deal is concluded. Deals are likely to be concluded March-May," an ECB source Cricbuzz.

Mumbai Indians (MI) are believed to be keen to acquire one of the London teams, and Sanji Goenka, the owner of Lucknow Super Giants (LSG), is also believed to be interested in a London-based team. However, ECB is not keen on having two London sides to IPL sides. Rajasthan Royals, Sunrisers Hyderabad and Delhi Capitals also remain in the race.

The ECB will complete the sale by May-June. The dates for the next season are yet to be annuonced.