Surely the cost of starting this in any real and meaningful way would be so exorbitant that it would just not see a return. Surely most nations have a contract that would not allow them to play cricket for other tv/associations and I wouldn't be surprised that they would have clauses prohibiting any kind of deal or negation while the contract is still in place. It might see considerable change but just in terms of sheer cost and hassle I doubt it would happen. I don't really know if its good or bad but I just don't see if getting enough money. 100 million quid can be got through very quickly if you start dealing with TV and wage bills. And that is a mad amount of money.
Yes it wouldn't be cheap:-
10 team tournament x 16 players per squad + 4 backroom staff = 200 players * £50k = £1m
Cost of venues, ticketing, pitch prep = ? £1m?
Run for 3 years
Run over 5 countries
=£30m easily
Add in tax, legal fees, and any recruitment of star names and it's going north of £50m.
Your return, it's possible TV companies might pay token amounts to fill up viewing hours but unless it gained an audience you would be struggling to recover the initial outlay. Attendances might recoup a little but without star names nobody will turn up for the first season or so.
My guess is an international IPL model. Some kind of travelling circus. Maybe a couple of franchises in each country, picking off retired players or journeymen t20 players. Outlay on the playing side will be with the franchises. Maybe Modi is also hoping to go into the associates by having a Franchise in Ireland and Scotland, for example. Tapping into associate markets who don't have the funds to do it themselves?