He reportedly told this at a press conference at Lord's on Thursday.
Lorgat's comments assume significance in the wake of Sri Lanka Cricket allowing its players to participate in the IPL next year though it coincided with a tour of England.
SLC had agreed to the series (against England) earlier this week as a replacement for Zimbabwe, but gave in after their players lobbied hard - involving the country's president - for the right to play in the IPL.
"If we don't manage this situation we could be threatening the lifeblood of all member countries. International cricket generates revenue that is essential to our survival. My folks always told me to be careful because money is the root of all evil. The root of this issue is the sums of money involved - it is far more attractive financially to play in the IPL," cricinfo quoted Lorgat as saying.
He added: "There is no doubt that there are inherent conflicts in the situation. Each country would rather look after its own interests and then you also have to get together to look after the global interests. I would hope that the ICC has people with the integrity to look after the game globally."