Lalit Modi

Exactly. Not a ball has been bowled. No teams have been established yet. There are no official ownership groups that have bid on franchises. Yes, this is a very compelling business plan, Lalit and IMG, but... No domestic cricket league has ever proven valuable anywhere in the world. You know, there are domestic leagues in Australia, in England, in New Zealand, et cetera, but they're peanuts.

Exactly. Not a ball has been bowled. No teams have been established yet. There are no official ownership groups that have bid on franchises. Yes, this is a very compelling business plan, Lalit and IMG, but... No domestic cricket league has ever proven valuable anywhere in the world. You know, there are domestic leagues in Australia, in England, in New Zealand, et cetera, but they're peanuts.

You know, they're the minor leagues. They're fine. They're not going to justify a $100 million a year, billion dollar over 10 year meteorite stealing. But they say we are interested. So what we would like to do is we would like to buy just the first year at the same pro rata price as the $600 million minimum bid for 10. We'll pay you $60 million for year one. So, you know, it's something.

You know, they're the minor leagues. They're fine. They're not going to justify a $100 million a year, billion dollar over 10 year meteorite stealing. But they say we are interested. So what we would like to do is we would like to buy just the first year at the same pro rata price as the $600 million minimum bid for 10. We'll pay you $60 million for year one. So, you know, it's something.

It's money on the table, but it's not really going to send the signal of strength to franchise bidders that Lollett wants for the auction coming up. He really wants the 10-year deal to project stability and cash flow certainty that also, by the way, is going to match up the 10-year payable period of the franchise fees. That's why he wants 10 years.

It's money on the table, but it's not really going to send the signal of strength to franchise bidders that Lollett wants for the auction coming up. He really wants the 10-year deal to project stability and cash flow certainty that also, by the way, is going to match up the 10-year payable period of the franchise fees. That's why he wants 10 years.

So he and IMG say to Sony, like, okay, we hear you. Hang on. They turn around and they go to a sports rights group based out of Singapore called World Sport Group. And it's basically just like the Nokia and Shah Rukh Khan deal. They say to WSG, World Sports Group, here's what we need you to do. We need you to bid and buy the 10-year media rights deal at the billion-dollar price that we want.

So he and IMG say to Sony, like, okay, we hear you. Hang on. They turn around and they go to a sports rights group based out of Singapore called World Sport Group. And it's basically just like the Nokia and Shah Rukh Khan deal. They say to WSG, World Sports Group, here's what we need you to do. We need you to bid and buy the 10-year media rights deal at the billion-dollar price that we want.

But we'll only charge you $60 million in year one. So then they would owe the remaining 940 over nine years? Exactly. And so you're going to put up $60 million in year one. And this is for the global rights, by the way, to IPL broadcasting.

But we'll only charge you $60 million in year one. So then they would owe the remaining 940 over nine years? Exactly. And so you're going to put up $60 million in year one. And this is for the global rights, by the way, to IPL broadcasting.

And what you're going to do is you are going to turn around and immediately sub-license the Indian domestic broadcast rights back to Sony, who is good for that $60 million on the table. Cash on the table. And then you, as your, you know, vig for facilitating this, you will have the rest of the world international broadcast rights that you can then go sell and profit from at your pleasure.

And what you're going to do is you are going to turn around and immediately sub-license the Indian domestic broadcast rights back to Sony, who is good for that $60 million on the table. Cash on the table. And then you, as your, you know, vig for facilitating this, you will have the rest of the world international broadcast rights that you can then go sell and profit from at your pleasure.

Yes. Well, so here's the Lollet quote. I knew that once we had the TV deal signed, all the rest would follow. Remember, he's already set all this up with Shah Rukh Khan. You know, he's got the players. He's got Shah Rukh Khan. He's got the stadiums. He knows this is going to work if they can secure the bag on the TV money.

Yes. Well, so here's the Lollet quote. I knew that once we had the TV deal signed, all the rest would follow. Remember, he's already set all this up with Shah Rukh Khan. You know, he's got the players. He's got Shah Rukh Khan. He's got the stadiums. He knows this is going to work if they can secure the bag on the TV money.

So he says, although the deal was for $1 billion, I told the broadcasters I only needed $60 million in year one. Let's get the first year done. We'll worry about the rest later. I promise if we don't achieve what we set out to achieve, I won't carry on the IPL after year one.

So he says, although the deal was for $1 billion, I told the broadcasters I only needed $60 million in year one. Let's get the first year done. We'll worry about the rest later. I promise if we don't achieve what we set out to achieve, I won't carry on the IPL after year one.

So he's basically saying, you have a gentleman's agreement from me that if this doesn't turn out like we think it does, I will pull the plug on the whole thing and you won't be on the hook, WSG, for $940 million in years 2 through 10.

So he's basically saying, you have a gentleman's agreement from me that if this doesn't turn out like we think it does, I will pull the plug on the whole thing and you won't be on the hook, WSG, for $940 million in years 2 through 10.

Like I said, it's the same Shah Rukh deal. It's like, hey, I am finding you the money to cover your costs in year one. And you are in the black. You can make whatever profits you want from the rest of it.

Like I said, it's the same Shah Rukh deal. It's like, hey, I am finding you the money to cover your costs in year one. And you are in the black. You can make whatever profits you want from the rest of it.