Indian Premier League (IPL) has been a revolution in the cricket. It’s been ten years since IPL’s inception, and it has completely changed the way cricket is played.
Star India bagged the IPL media rights for the next five years for a whopping Rs. 16,347.50 crore on Monday. IPL started in 2008 under the chairmanship of Lalit Modi. The IPL was Lalit Modi’s brainchild. He made IPL a cash-rich and glittery extravaganza it is right now.
Start India piped 23 other companies in a bidding-war in Mumbai to bag the media rights for a five year period from 2018 till 2022. It was estimated that the rights would fetch over Rs 20,000 crore through the traditional bidding process. Star India managed to get the rights for Rs. 16,347.50 crore which has got some eyes rolling. This value has drawn a lot of attention in the Indian media as well.
The bidding process was divided into two parts, Broadcast and Digital. Digital includes the internet and mobile rights. However, this value hasn’t impressed Lalit Modi, as he feels the value should have been much higher because of IPL’s huge success in the ten years of its existence. Lalit Modi was expelled from the IPL in 2010 because he was accused of rigging bids and money laundering.
Still, Modi has never backed out from expressing his feeling in the public through social media, whether its favour of the BCCI or against them. On early Monday morning, Modi Tweeted,
“Looking forward to seeing a number greater or equal to 5 billion US Dollars for @ipl rights over the next five years. Most valuable sports right”
Modi has been removed from all the posts under BCCI and was also barred from electing in the Rajasthan Cricket Association elections. He expressed disappointment by Tweeting,
“So #StarSports wins global rights for @IPL I would’ve hoped a larger figure Deserved greater value after 10yrs of success #IPLMediaRights.”
So #StarSports wins global rights for @IPL I would've hoped a larger figure Deserved greater value after 10yrs of success #IPLMediaRights pic.twitter.com/F5Gw0lVZ4b
— Lalit Kumar Modi (@LalitKModi) September 4, 2017
Looking forward to seeing a number greater or equal to 5 billion US Dollars for @ipl rights over the next 5 years.Most valuable sports right
— Lalit Kumar Modi (@LalitKModi) September 4, 2017
In a lighter vein, @ 16000 crore INR, #IPLMediaRights value is equal to GDP of Maldives and MORE than GDP of Bhutan ?? #IPL ??
— Lalit Kumar Modi (@LalitKModi) September 4, 2017