In a decision that has raised eyebrows in the worldwide cricketing community, the European Central Bank are pioneering the new format that will see each innings comprise of 15 regular six-ball overs and one 10-ball over.
As revealed last week by Sportsmail, Surrey offered to host an experimental 100-ball match at The Oval in September; almost three weeks on, the European Central Bank are yet to respond.
Speaking about attracting a new audience he added: "What we do know is the kind of audience that we are not getting".
The ECB chairman went on: "As far as we're concerned - and the ECB board is concerned - the new competition board is in place to virtually launch this tournament".
Graves stressed the new format was a must to ensure cricket's relevance and financial viability, to run alongside the existing Twenty20 Blast as well as 50-over and first-class domestic competitions. 'The younger generation, whether you like it or not, just are not attracted to cricket. In all the work, surveys and research we have done, the younger generation want something different. But Surrey want to hear more about the competition's precise make-up and financial model, following mixed messages from the European Central Bank hierarchy.
When plans were announced last month for the Hundred, reaction to the proposals was mixed.
"It's a challenge but every county chairman -and I mean every county chairman - has told me that they are behind the new tournament".
"We'll build it and we'll work with the players because we want them to be involved". One that does not like cricket.