Lalit Modi
👤 SpeakerAppearances Over Time
Podcast Appearances
I have no idea how to run a team or do anything. I, being Lollet, said, Sharukh, let me handle it. I'll put a consortium for you together. You just need to write a check. He says, you're going to take my life savings. And it was his life savings in those days. I said, just write the check and we'll talk about it if you end up winning the team at the auction.
I have no idea how to run a team or do anything. I, being Lollet, said, Sharukh, let me handle it. I'll put a consortium for you together. You just need to write a check. He says, you're going to take my life savings. And it was his life savings in those days. I said, just write the check and we'll talk about it if you end up winning the team at the auction.
This is the most incredible gangster type stuff. So here's what Lala did. Because he's friends with Shah Rukh, he knows that Nokia, the big handset manufacturer at the time, remember, we're still slightly pre-smartphone era here. We're in 2007. Yep.
This is the most incredible gangster type stuff. So here's what Lala did. Because he's friends with Shah Rukh, he knows that Nokia, the big handset manufacturer at the time, remember, we're still slightly pre-smartphone era here. We're in 2007. Yep.
Oh, way pre-smartphone in India. Nokia is desperate to get Shah Rukh as their celebrity spokesperson in India. And for whatever reason, Shah Rukh is not engaging with them on it. So Lalit says, Shah Rukh, just trust me. Do I have your word that if I put a consortium together for you, you're in? He says, sure. Lalit turns around and he goes to Nokia and he says, I know you want Shah Rukh.
Oh, way pre-smartphone in India. Nokia is desperate to get Shah Rukh as their celebrity spokesperson in India. And for whatever reason, Shah Rukh is not engaging with them on it. So Lalit says, Shah Rukh, just trust me. Do I have your word that if I put a consortium together for you, you're in? He says, sure. Lalit turns around and he goes to Nokia and he says, I know you want Shah Rukh.
He's not going to do it. But you can become the jersey sponsor of his new team that he's about to have in this new cricket league that is going to be the biggest cricket league the world has ever seen.
He's not going to do it. But you can become the jersey sponsor of his new team that he's about to have in this new cricket league that is going to be the biggest cricket league the world has ever seen.
Would it be? Would it be? Yeah. Yeah. Well, if he were to have this new team, he's going to be in the stands. He's going to be on the field. He's going to be wearing it. He's going to be singing. He's going to be dancing. He's going to be doing the music video introduction to the team in the league. TV cameras are going to be all over him.
Would it be? Would it be? Yeah. Yeah. Well, if he were to have this new team, he's going to be in the stands. He's going to be on the field. He's going to be wearing it. He's going to be singing. He's going to be dancing. He's going to be doing the music video introduction to the team in the league. TV cameras are going to be all over him.
And he's going to be wearing the shirt with Nokia right there in the front on the chest. And you can have all of that for the low, low price of $5 million per year in cash up front.
And he's going to be wearing the shirt with Nokia right there in the front on the chest. And you can have all of that for the low, low price of $5 million per year in cash up front.
Jersey sponsor, one team, $5 million in cash. One team that doesn't exist that theoretically might be won at the auction by Shah Rukh.
Jersey sponsor, one team, $5 million in cash. One team that doesn't exist that theoretically might be won at the auction by Shah Rukh.
India, baby. And Lalit. And Lalit. I mean, he's an incredible entrepreneur. So Lalit goes back to Shah Rukh and he's like, all right, I got you your team. So I'm going to set the minimum reserve price in the franchise auction at $50 million. But it's going to be payable over 10 years. And... No matter what you bid and what you win, the first year's payment is going to be $5 million.
India, baby. And Lalit. And Lalit. I mean, he's an incredible entrepreneur. So Lalit goes back to Shah Rukh and he's like, all right, I got you your team. So I'm going to set the minimum reserve price in the franchise auction at $50 million. But it's going to be payable over 10 years. And... No matter what you bid and what you win, the first year's payment is going to be $5 million.
So if you bid $50, it's $5 million a year for 10 years. You bid $100, it's $10 million a year over 10 years on average, but I'm only going to charge you $5 in the first. I believe that's how it was set up.
So if you bid $50, it's $5 million a year for 10 years. You bid $100, it's $10 million a year over 10 years on average, but I'm only going to charge you $5 in the first. I believe that's how it was set up.