Days after the BCCI bagged a whopping quantity of over Rs 48,000 crore for the Indian Premier League (IPL) media rights for the 2023-27 cycle, former IPL chairman Lalit Modi, in an unique interview to IHNS, stated the IPL will grow to be the No. 1 sports activities league on the earth. The previous chairman of the franchise cricket league added that he believes that IPL media rights valuation will double once more within the subsequent cycle.
“It’s the fan base that has executed it (improve IPL’s valuation). I’ve at all times stated that in three or 4 years it is going to double. The worth of IPL will proceed to double. When you have a look at all my interviews from 2008, I stated that IPL worth will double by way of media rights. It has gone up by 98 per cent from the final cycle. From the final cycle to this cycle is 98 per cent and I’m telling you going ahead within the subsequent cycle, it is going to double once more,” Modi stated.
“It’s going to positively overtake and I’ve at all times stated IPL will grow to be No. 1 sports activities league before later. All of it will depend on the innovation for the OTT platforms, the digital rights. If we’re in a position to do our act proper in digital, you will note digital overtaking tv by way of viewership and by way of income. I feel the digital rights will go three-four instances of tv within the subsequent 5 years. That’s if we get our act proper. Cash must be spent on know-how on the digital platforms. The texture has to vary. New applied sciences will carry consumer expertise to a greater degree. Proper now we’re not doing it. BCCI must put within the cash.”
Modi added that his prediction that IPL is recession proof has come true. “The viewership is now most likely highest on the earth by way of variety of folks watching and the attention balls getting drawn to the sport. I’ve at all times maintained, and all people laughed at me, that IPL is recession proof. It truly is popping out to be true that’s recession proof so far as India is anxious. We now have acquired newer and newer fan bases which are becoming a member of in. However we’ve got to watch out going ahead. As a result of the youthful age group is totally on digital, that’s the reason the digital rights have gone up tremendously in worth however their expertise has not been so good in India as we speak so far as watching it on a selected platform,” Modi informed IHNS.
“The Jio platform that has it, will not be very user-friendly on the present second. Whenever you flip the cellphone round from horizontal to vertical, it would not seize that…that loses the religion within the followers.”
Modi was the primary chairman and commissioner of the IPL. He was instrumental in operating the league from 2008 until 2010. He was additionally a vice-president of the BCCI from 2005–10.
The previous cricket administrator added that the infrastructure must be improved within the Indian cricket stadiums. “The IPL has contributed Rs 100,000 crore to the BCCI in whole. Rs 58,000 crore final eight years alone. Fifty per cent of the cash stays with the BCCI, fifty per cent is shared with the IPL franchises. What has BCCI executed to improve the infrastructure? You have a look at Kotla. They need to demolish Kotla. They need to many of the stadiums and construct recent. You possibly can put world class infrastructure in, air-condition, good bathroom, good hygienic consuming locations, good viewer expertise, automobile parks. It’s essential to put that cash in to be able to construct world-class stadium,” he stated.
Modi left India in 2010 amid allegations of tax evasion, money-laundering and proxy possession and is predicated in London since the previous few years. The BCCI has suspended him in 2010 following allegations of monetary irregularity after which in 2013, Modi was banned for all times by the cricket governing physique.
“It (IPL) has actually been ready to try this (clean-up act). It is shifting up in the precise path with the Gujarat Titans performing tremendously within the first season from scratch. That has proven that there’s religion now within the sport. There isn’t any fixing any extra and that it has taken a brand new flip,” he added.
On the IPL media rights e-auction Disney Star retained the TV telecast rights with a bid worth of Rs 23,575 crore. “I’m thrilled to announce that STAR INDIA wins India TV rights with their bid of Rs 23,575 crores. The bid is a direct testimony to the BCCI’s organizational capabilities regardless of two pandemic years,” BCCI secretary Jay Shah wrote in a tweet.
“Viacom18 luggage digital rights with its profitable bid of Rs 23,758 cr. India has seen a digital revolution & the sector has countless potential. The digital panorama has modified the way in which cricket is watched. It has been a giant issue within the progress of the sport & the Digital India imaginative and prescient,” Shah confirmed in one other tweet.
Reliance’s Viacom18, received the rights for package deal C with a Rs 3,258 crore profitable bid. Because of this, Viacom, who additionally received the rights for Package deal B with a pay out of Rs 20,500 crore (Rs 50 crore per match for 410 matches), ended up paying Rs 23,758 crore for the whole bouquet of digital rights.
The Package deal D, which included rights for the Remainder of the world, was received for a bid of Rs 1058 crore.
Ultimately it was the BCCI that laughed its approach to the financial institution, raking in a complete sum of Rs 48,390 crore for the packages A, B, C and D.
Matters talked about on this article