The Hundred is worth “much more” than £400m, according to England and Wales Cricket Board chairman Richard Thompson.
“The Hundred has generated tremendous interest in the private equity markets,” Thompson told Test Match Special.
“IPL’s Lucknow Super Giants sold for almost a billion dollars, so I’d say a tournament is worth a lot more.”
The Hundred, the 100-ball tournament for eight men’s and women’s teams, is only two years old.
The competition and teams are owned by the ECB and Thompson said it was “too early” to consider a sale.
“We have a long way to go before we do anything,” he said. “We will not sell the game short.
“The ECB has to think very hard whether we should sell four or five weeks of the summer to a third party. It would be a huge decision for us to make.”
The Hundred has been a divisive presence in the English game, with critics saying it is hurting county cricket and monopolizing August.
Chairman Thompson and new ECB chief executive Richard Gould have both opposed The Hundred despite holding the same posts in Surrey.
But Thompson now admits he was converted by The Hundred’s reach and impact on the women’s game. He also says Bridgepoint’s offer shows its value.
“We have to take a competition like this very seriously,” he said.
“There is a feeding frenzy around world cricket and private equity so I’m not surprised we got an offer.”
Thompson did not confirm the value of the offer, which he called “unsolicited.”
“It shows the interest in The Hundred and English cricket, so I would expect more unsolicited offers as well,” he said.