16 March 2024 last updated at 11:20 GMT
 
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IPL Media rights could touch US$10 billion
Lalit K Modi

IPL Media rights could touch US$10 billion

Over the last 15 years, if there is one event that India and cricket fans across the globe keenly look forward to, it has got to be the Indian Premier League (IPL).

Even before Make In India was introduced by our respected PM, IPL was our biggest export to the rest of the world after yoga and spirituality. We have now achieved something that many others just dream of. It is an annual event, which is keenly followed. Some rivalries and contests are the highlights which help make the league what it is.

Several lives have been improved by the league. A cricket economy helping close to 1000 plus families has emerged and survived the worst economic recession and a global pandemic. It is now therefore rated as the third biggest sports entertainment product globally. Could we have imagined this would have happened when we launched the league in 2007?

Yes, we did. As the proud father of this baby, I sit far away from the contests watching with a lot of pride as it grows into a gigantic product. It is truly a proud moment because I have seen what we planned in 2007 grow into something massive.

When we conceived the idea back in 2007, there were a lot of naysayers. Will this work? Why would companies own teams? What about the auction? Isn’t it immoral? We had all these questions thrown at us right at the start. But we knew just what we were aiming for. We had a lot of friends to thank for believing in our product.

Today those very people have grown into massive cricket business houses investing in leagues worldwide, like what we have with Knight Riders! There are others also, like the GMR and Reliance, who are keen to diversify into other leagues. It is all due to the success of the IPL that these companies have the belief in expanding their vision and growing in other territories. But nothing will be bigger than their IPL investment, ever!

These team owners deserve all the kudos. Then there are the commercial partners who have grown manifold in the past few years. If you look at the IPL commercial partners, you indicate the prevailing trend. The current trend in the world is all the tech-based apps that simplify your daily lives. But in the IPL, they are multiplying the finances for all. The support from these fintech companies is an indication that the economy around the world has changed and the IPL has been quick to embrace it.

If you thought that this was a new trend, nope, think again. We were ahead of the world not just in launching the league back in 2007 but also in envisaging the way broadcast of the league would happen.

Back in 2010, when I travelled to the US with my core group, little did anyone know then about just what I was planning. We went to the Google office and came back with a win-win deal. The first-ever cricket live streaming happened on YouTube in 2010, with a dedicated fun feed. This fun feed provided behind-the-scenes content that was not visible on TV. This was a landmark moment for the coverage of the IPL and that too in its third year. If I had carried on, we would have come up with more innovations. We would not have had to wait 12 years for Google to pick up ITT for broadcast starting from the 2023 season.

Of course, better late than never because IPL on YouTube was a moment to savor, which we all enjoyed being a part of. That YouTube arrangement was just one of the innovations we attempted and succeeded in.

The television deal with Sony Entertainment Television was also a massive achievement. Of course, Star quadrupled the agreement in 2018. As we are at the cusp of another new media rights deal, the world is running out of fingers to count the numbers in store.

Everybody is throwing numbers on the table. But if you have to listen or believe in one number, then it is from yours truly. I predict that this new IPL media rights tender will fetch close to 8 to 10 billion dollars. I believe this is the value of a genuinely global and world-class product.

I am confident that this value will match the fun on the field with several close contests and a lot richer talent bursting through with their performances.

The 2022 season has already provided us with so much joy with young fast bowling talent. Imagine this was possible in the first entire season with 10 sides. What could be the case with all teams playing each other twice? That would double the excitement and is the reason for my optimistic assessment of the increased value of media rights.

The explosion in the digital space, which we first explored briefly back in 2010, is now a reality. Every life is dictated by the mobile phone and IPL will be no different. Linear TV is still very much the lifeline for an Indian audience. So that is going nowhere. Now add the digital boom and the strength of Linear TV, and we have close to 10 billion dollars!

When the veil is lifted on the winner next month, please remember who told you first about the value of the rights. Then, I will be ready to raise a toast to the winning party and will doff my hat to the paying public. These two sets of people have helped make my vision durable.

Without them, IPL, cricket and I would have been nowhere. So now, go on, enjoy the rest of IPL 2022 and remember my words while you watch the action.

Lalit Kumar Modi

 

Follow my thoughts on IPL 2022 through my Twitter account @lalitkmodi and Insta account @lalitkmodi 

 
Gone To Soon, Mate!
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Over the past few days, I have been reading a lot of junk about my role in the Indian Premier League (IPL) becoming what it is today. The fact that the IPL has walked away with 12,500 crores from the sale of two new teams is not a testament to anything but the solid foundation that I had laid down back in 2007 for the tournament.
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So now Sahara pulls the plug and the BCCI continues it's lurch from one crisis to another.
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The current reaction to rumours that the BCCI may have exerted undue influence to oust a very capable administrator from the ICC, is a sure sign to me that people have just about had enough of the BCCI and that the ICC must do something about it. They probably won’t.
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As the future of the Deccan Chargers remains shrouded in doubt, there was an interesting article in today's edition of the Hindustan Times asking wether the sheen is wearing off the IPL. (You can read the full piece by clicking here)
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Giles Clarke Press Release
“In May 2010 Giles Clarke CBE, Chairman of the England and Wales Cricket Board, sent an email to the President of the Board of Control for Cricket In India, the contents of which were subsequently widely reported in the British and international media which resulted in libel proceedings being issued by Lalit Modi. This statement confirms that the parties have agreed to settle the litigation on confidential terms.”
Usain Bolt.: The highlight so far of a magnificent spectacle.
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India V Pakistan is a step forward
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The King's are 'dead'. Long live the kings!
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Don't just sit there, DO something
By Lalit K. Modi - 23rd May, 2012
So the IPL's governing Council is apparently going to sit and assess the state of the IPL after this tournament is over. I hope they will consider changing some of the things that, frankly, they shouldn't have changed in the first place!
IPL spot fixing? The BCCI MUST wrap this up now
By Lalit K. Modi - 16th May, 2012
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In praise of Lalit Modi
M J Akbar
A question has left me wondering about an answer: how incendiary is the combination of great ideas with great luck? History must be full of sensational ideas that withered because they did not possess the luck that attracts capital, or finds the right moment when it can flower.
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London High Court annuls bankruptcy order
Press Release
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A disappointing start to an exciting journey!
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The IPL is back!
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Case against Giles Clarke stands
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Following the news that ECB Chairman, Giles Clarke has settled a libel case brought by global sports management firm, IMG in London, I've received many messages from people wanting to know if that means the identical case I brought against him has been settled too.
One man's ego is costing BCCI crores!
By Lalit K. Modi - 6th February, 2012
Ego has a voracious appetite, the more you feed it, the hungrier it gets. And see how the ego of one man has brought BCCI to the brink of disaster. Years of effort went into making the BCCI the most cash rich cricket body in the world. This helped us provide players with better infrastructure, coaches, facilities, team staff, stadiums and increased pay.
Kapil should head review, Dravid should be Director of Cricket
By Lalit K. Modi - 26th January, 2012
I read with a lot of interest the statements by BCCI president N Srinivasan on the debacle in Australia. He says there won’t be any knee jerk reaction, which is good. He says the tour is yet to get over, which is correct. He says the team has had just two bad away Test series, which is also correct. But isn’t eight overseas Test losses in a row reason enough to press the panic button and verify what is the matter with the team, with the system and Indian cricket as a whole. Isn’t it the time to introspect and face some inconvenient truths?
More woe for the BCCI
By Lalit K. Modi - 21st December, 2011
The collapse of the television deal with broadcaster, Nimbus seems to have entered mysterious waters in the last few days and is another example of the outrageously poor leadership that continues to blight the Indian game.
Optimism for the Australia Tour
By Lalit K. Modi - 9th December, 2011
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When sport simply doesn't matter...
By Lalit K. Modi - 28th November, 2011
The weekend's news concerning two international figures has certainly put the world of sport and all it entails, firmly into perspective.
Unlike football, for me it is a matter of life and death
By Lalit K. Modi - 3rd November, 2011
The conviction , in a London court, of three young Pakistani cricketers involved in spot fixing not only shocked cricket lovers but has brought the integrity of the sport into question. More insidious is the realisation that organised crime syndicates sit behind this illegal activity and resort to any measures necessary to make their 'business'' more effective. And this explains why I'm continuing to live in London and perhaps, off the back of these stories, now is the time to explain it further with this blog.
Spot-fixing verdicts - an opportunity for the ICC
By Lalit K. Modi - 2nd November, 2011
The guilty verdicts passed to Salman Butt and Mohammad Asif at the end of the spot fixing trial in London were a significant step in the battle against corruption in sport. Butt and Asif were each found guilty of conspiracy to accept corrupt payments and conspiracy to cheat, while a third player, Mohammad Amir, pleaded guilty to the same offences at a pre-trial hearing two weeks before the case began. The convictions represent one of the most high profile warnings to anyone - and everyone - who are involved in world sport and who may be tempted into such activity. But in many ways, the hard work starts here.
Three Cheers for Dhoni and the team!
By Lalit K. Modi - 30th October, 2011
Its been an interesting few weeks for India's cricketers and after an extensive 'home and away' series with England, it feels much more comfortable to be an Indian cricket fan now than it was during the summer! Although the final T/20 match in Kolkata went England's way on Saturday, the 5-0 one-day series victory has put the disastrous summer tour to England firmly in the background. The world is suddenly a brighter place for the Indian cricket team.
Sports Award for Lalit Modi
Lalit has this week been officially recognised as one of the world's leading sports innovators at a prestigious International Sports Management Awards evening in London. The 2011 International Sports Event Management (ISEM) Awards evening at the Wyndham Grand Hotel, rewarded Lalit and IMG Executive Vice-President Andrew Wildblood, for their success in establishing the IPL as a commercially successful, global tournament with the 'Outstanding Contribution Award'.
Kochi - I told you so
By Lalit K. Modi - 20th September, 2011
The BCCI’s termination of the Kochi Tusker’s IPL franchise for non-payment of a bank guarantee, is a financial mess I predicted over a year ago and one I was prevented from trying to avoid during my time as IPL Commissioner.
Big noise and High stakes in Mumbai
By Lalit K. Modi - 18th September, 2011
The BCCI’s AGM in Mumbai tomorrow (Monday) has been the subject of much public discussion - a fact that’s hardly surprising given its importance for the future of Indian cricket. The conjecture surrounding appointments to key positions has focused on the individuals who are apparently concerned, but as soon as the decisions have been confirmed, the focus must turn to what these people are actually going to do.
"The Times" they are a changing!
By Lalit K. Modi - 8th September, 2011
An article in Wednesday’s edition (7th September) of that much respected newspaper, the Times of India, which reported the BCCI’s responses to an Indian Parliamentary Committee on alleged financial irregularities, certainly made for interesting reading. The headline read: “Can’t blame all IPL lapses on Modi, admits BCCI Secretary, Srinivasan”. For 18 months, the BCCI, largely through the activities of Mr. Srinivasan, have been given free rein to throw countless, false and unsubstantiated allegations in my direction, without any level of accountability. These have included allegations of singular responsibility for contract transactions and even erroneous claims of personal interests in IPL franchises and the Sri Lankan Premier League. All of them, as you well know by now, constantly and strenuously refuted by me with support from substantiated and irrefutable evidence to qualify my position.
Government intervention has no place in sport
By Lalit K. Modi - 1st September, 2011
There has been surprise from many quarters that I should support the BCCI this week against a proposal from the Indian Sports Minister. But frankly, I can't understand why. The proposal would have provided for unilateral government intervention into the running of all sports in India - including Indian cricket and the BCCI - via the Right To Information (RTI) act and, in my view was completely unwarranted and unnecessary. So I simply said so. To recap, the Indian Sports Minister, Ajay Maken submitted a proposal for a Bill that targeted sport in general but clearly had the BCCI firmly in its sights. Thankfully, the proposal was voted out in cabinet and won't be carried forward in its present form.
The real reason why India are struggling in England
By Lalit K. Modi - 9th August, 2011
Despite India's defeats in the first Two Tests against England, I'm looking forward to the third Test which starts at Edgbaston on Wednesday. Its a make or break match for India as another win for England would clinch the series and also put them at the top of the ICC World rankings, replacing India as the number one Test team in the world. As a proud and passionate Indian, any defeat for my own country's cricketers is painful, but the additional disappointment of being replaced at the top of a ranking list would be a bitter blow. There's no denying that India haven't played well in the series so far and the analysis that has followed has been predictable and, of course, justifiable. After all, when a team reaches the top and then under performs, people - not just journalists - look for reasons.
Appeal Hearing Victory!
By Lalit K. Modi - 30th July, 2011
I was delighted to receive news from the Appeal Court in London on Friday, that, together with International Management Group, (IMG) I have won an important appeal that confirms a defamation case against ECB Chairman Giles Clarke, who will now have to defend himself at trial.
Is the BCCI the USSR in disguise?
By Lalit K. Modi - 12th July, 2011
Back in the late 1980's the UK's Prime Minister, John Major, now Lord Major, met with President Brezhnev of the Soviet Union. Mr Major asked Brezhnev how things were in the USSR to which he replied: 'Good'. Mr Major asked his counterpart to embellish a bit. 'Not good' came the reply. I may be stretching things but I see a number of parallels with this story in the world of cricket and the BCCI's role within it. First , the 'Good'. Here in England, in a warm midsummer, it's the height of the cricket season with much excitement at the pending arrival of India’s finest for a three-month tour. Four Tests, one T20 and five one-day internationals will provide a great spectacle and fascinating encounters between two sides at the top of their game. The ‘warm-up’ act has been pretty exciting too. Sri Lanka narrowly lost the deciding match at Old Trafford on Saturday in the five-match ODI series and could have registered a formidable 'away' win after taking a 2-1 lead after three matches. Two world-class sides with little to separate them in talent and application. But off the field its a very different story, with Sri Lanka's debt ravaged Cricket Board struggling back home with the latest financial set-back enforced upon them by their nieghbours at the BCCI. And here's the 'Not good' piece. The fact the Sri Lankan Premier League Twenty20 tournament has had to be postponed and replaced by a provincial tournament featuring six local teams was no surprise to me. It was a commercial accident waiting to happen from the moment the BCCI refused to allow Indian players to participate. Of course, if they had been allowed to play, there was the prospect of India losing players for the first two Tests with England - at Lord’s and at Trent Bridge. It didn’t seem to matter that Sri Lanka agreed to release players to play in the BCCI’s IPL tournament earlier this year and therefore weaken their own squad to tour England. With the BCCI involved, there was to be no ‘quid pro quo’ here. So, as a consequence, the Sri Lankans have been forced to replace the SLPL with a tournament involving only local players. The SLPL couldn’t happen without the involvement of Indian players, because without them there was no real opportunity to secure broadcasters in the lucrative Indian market. This meant that a tournament without its major attractions, administered by a financially stretched organisation was doomed. It's my view the BCCI knew this and saw another opportunity to impose their authority on world cricket irrespective of the consequences. A case of; ' I've made up my mind, don't confuse me with the facts'. And I'm not alone here. Former West Indies fast bowler Michael Holding was recently quoted on Fox Sports as saying this about the BCCI: “They have too much power. I do not believe any country should be able to dictate to the rest of the world.” Michael also adds: “Only the organisation that runs the sport should dictate its path. Individual boards are dictating certain things and that’s something I can’t agree with,” I couldn’t agree with him more. The whole point of being a strong organisation within the cricket world is to support its development and grow the game. I'm not suggesting this should be an act of charity, I'm simply saying it is the imperative of leadership and the reflection of vision and wisdom. Of course, India should benefit, but what’s the point if all you’re doing is creating a situation that weakens the game elsewhere and subsequently its whole future? What happens if only the strongest survive? The international calendar will be repetitive, boring and commercially unattractive. That is no good to anybody least of all the BCCI. The potential for that to become reality was also reflected in comments from the former ICC chief Ehsan Mani in a recent article carried by the Associated Press of Pakistan. He said: “In my time, every country played with every other country in a four-year cycle. That rule has been corrupted.” Of course a series involving the likes of India and Australia, or South Africa and England is currently commercially more attractive than other fixtures, but without an integrated world system, the game is heading down a slippery slope as more and more sports and other forms of entertainment compete for fans discretionary time and income. As the true authority for the world game, the ICC must now ensure the smaller nations are not sidelined. Sri Lanka may not have the richest Cricket Board in the world, but they have been blessed with some very talented cricketers who have enriched the world stage. Such nations should be encouraged to help produce more players, better tournaments and a brighter future; not forced to accept scraps from the top table at the whim of those who manipulate the guest list. So to return to my little story. Is the BCCI in danger of becoming the ‘USSR’ of cricket politics? A formidable force, both feared and venerated in its prime, that overstretched itself by trying to impose its values and life style on too many nations and cultures, and in the process lost it all? Maybe I'm stretching the analogy but we all know where the exercise of power instead of influence leads. In closing, I will admit to a little smile this week, when I realised the significance of India’s opening match in England. You’ll remember, the BCCI’s objection to the SLPL was because they incorrectly suspected my involvement in the company which owned the commercial rights for the tournament? That company was - and is - Somerset Entertainment Ventures. It was an incorrect notion that has since been firmly ridiculed as nothing more than a lame excuse. So how fitting, that India’s first stop on their tour this week, is a warm-up match.... in Somerset! I do so hope the irony isn’t lost on the travelling army of BCCI Executives (or shall we call them “Comrades” ?) -wined, dined and housed in luxury and at great cost -when they are chauffeured, across the county boundary on Friday morning.
Another Bad week for the BCCI
By Lalit K Modi - 26th June 2011
It has certainly been a busy week, but unfortunately, one that hasn't reflected well on the game of cricket. Instead, the tactics of the BCCI are, once again, in focus and Sri Lanka's board has suffered at the hands of their neighbouring 'bully boys'. The beginning of this latest, sorry episode was the suggestion that I was part of the Sri Lankan Premier League set up - an allegation that has resulted in some severe damage to a tournament that starts next month. Its clearly a convenient tactic for the BCCI to use my name to cast a shadow over something they don't approve of. So, let me say one thing very clearly- I am not involved in the SLPL. Trust me, when I do get involved in another project, you will know all about it!
Time for the ICC to lead on Technology
By Lalit K Modi - 17th June 2011
One of the great things about creating the IPL was the opportunity to be at the cutting edge of development. I got a tremendous buzz out of creating a brand new product which pushed the boundaries of entertainment and sport and some might even say I blurred the boundary between the two. If that's the case, then I'm happy to have done so. One of my personal motives for setting up the IPL was to provide something unique and exciting and in the four years it has been in existence, I think people will have seen that is certainly the case. I only hope the league can keep pace with technology and demand for future seasons. That, as they say, is another story. The IPL was set up to provide entertainment and a feeling of inclusion for spectators. We used the latest ideas and technology, including the Decision Review System (DRS) - and it worked.
No substitute for quality
By Lalit K Modi - 2nd June, 2011
Last weekend presented a great offering of international sport that has re-enforced my belief that when quality is complimented by tension, anticipation and sheer excitement, there is no better way of being entertained. Individual skill and talent can be admired across many different art forms, but when it is supported by the intense competition sport presents, the drama is intoxicating.
Shane Warne; The Legend
By Lalit K Modi - 24th May 2011
The IPL reaches its climax with the final in Chennai on Saturday, but for me, one of the most poignant moments of IPL 4 has already taken place. Rohit Sharma had made a swift 58 for Mumbai Indians against Rajastan Royals, when he was stumped by Pinal Shah, off the bowling of Shane Warne. It was Warnie's last wicket in the IPL as he brought down the curtain on a career of outstanding achievement. Its hard to comprehend that he has now played his last ever competitive match.
Welcome to my new website
By Lalit K Modi - 19 May 2011
Welcome to my new website! And what a time to launch with India recently becoming World Champions and IPL providing plenty of talking points. Throughout my life, I have been a devoted fan of cricket. Cricket is my lifelong passion. It is a sport I have had the privilege of serving and enjoyed watching all over the world. So this new site mirrors my passion for the game and if you're a cricket fan yourself, I hope it will reflect yours too.
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