The Sports Entrepreneurs Podcast by Marcus Luer
Business:Entrepreneurship
Lalit Modi, the founder of the IPL, the final episode uncovers how it all went wrong at the end. From threats to his life, assassination attempts, to being banned for life and having to leave the country. One final amazing episode to wrap up our four part series on how Lalit created the IPL.
Key Highlights
- Breaking new grounds and records in first two seasons, drama around the tender for two new team franchises
- Billion dollar Net worth threshold to bid for new teams – lobbying to lower threshold by various groups
- Minimum bid price, US 225 million per team - Bids over 300 mil coming in for teams
- Sahara agreement signed quickly, issue with winning consortium for second team (Lalit’s suspicious with certain shareholders)
- Sunanda Pushkar (since then passed away), the unknown women in the deal? Next call by Congress party leader Sashi Tharoor…..
- Lalit being forced to sign the agreement for second team under duress
- Next day news, Sashi Tharoor marrying Sunanda Pushkar – Lalit blows the whistle with a tweet
- Indian Parliament and political uproar follows – pressure on Lalit to resign, suspension while third season is wrapping up
- Ravi Pujari, known Indian gangster, death threats to Lalit life, assassination attempts in South Africa and Thailand
- Years of investigations and charges against him, nothing ever found of wrong doing
- BCCI suspend him, later life ban without a proper inquiry
- Chhota Shakeel & Dawood Ibrahim – incredible recordings and interviews with them
- Illegal betting – still a big issue today
- Kochi team defaulted eventually as he predicted – Sahara also defaulted when billionaire owner went to jail
- Interim teams were brought in for two seasons before new auction - new teams franchise fees around USD 800 mil per team
- Obvious question, after all this, how do you feel about what happened and you achieved? Was it worth it?
- What keeps Lalit busy now – final thoughts
About
- Globally recognized leader, Executive Director of Modi Enterprises, with business interests across nearly every industry vertical. Built a billion-dollar brand in less than a year, launched a revolution to Indian broadcast entertainment, and negotiated partnerships with ESPN, Disney, Google, Ten Sports, B4U, Fashion TV, Voyages TV, Buena Vista Television, United Artists, Marvel, Nike and others.
- International business strategist who catalyzes transformation and change by capitalizing on unmet demand in domestic and overseas markets. Embraces technology and creates opportunities to enrich lives, create sustainable revenue, and optimize productivity through integration of emerging platforms in social and digital.
- An entrepreneur at heart with a phenomenal ability to connect people and ideas into revenue-generating enterprises, an active member of the board for one of the oldest and most successful industrial conglomerates in India, and the thought- leader behind radical change in India’s leading Cricket administration, the BCCI.
- Recognized by Time, Sports Illustrated, Business Week, Forbes, Business Standard, and other influential global media outlets for launch of the Indian Premier League (IPL), one of world’s most popular Cricket organizations.
- Was Awarded ‘Indian of the Century” by India Today in
- Forbes nominated Modi as “Rainmaker of the Century”
- Against extensive political and economic challenges, brought IPL to South Africa, and sustained the same phenomenal levels of viewership and attendance despite the move.
- Columbia University and Stanford University Both did case studies on Modi, which are still being taught in Universities across the world.
- Created billions dollar opportunities, and played an integral role in shaping the cultural direction of Modern India as visionary behind transformational changes in broadcast, sports, entertainment, and consumer products.
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