Lalit Modi

This really accelerates IPL becoming a global phenomenon among the cricket playing and cricket watching countries of the world. The fact that you can airlift the tournament out of India, put it in another cricket playing country, have it be just as successful, have everybody be happy, you're only growing the game by doing this. Yep.

This really accelerates IPL becoming a global phenomenon among the cricket playing and cricket watching countries of the world. The fact that you can airlift the tournament out of India, put it in another cricket playing country, have it be just as successful, have everybody be happy, you're only growing the game by doing this. Yep.

On the back of that, heading into season three, they decide, all right, time to expand. We're going to add two teams to the league. We're going to do a two-team franchise auction in the same model as the first one, except now we expect the prices are going to be much higher.

On the back of that, heading into season three, they decide, all right, time to expand. We're going to add two teams to the league. We're going to do a two-team franchise auction in the same model as the first one, except now we expect the prices are going to be much higher.

Yep. They do only do two. That does show some restraint. The two franchises that they auction off are Pune and Kochi, and those go for $333 million and $370 million. A little bit higher than $90 million. Now, central revenue is higher from the new broadcast deal that got renegotiated, quote-unquote, with Sony. But they are on the hook for paying $33 million a year and $37 million a year.

Yep. They do only do two. That does show some restraint. The two franchises that they auction off are Pune and Kochi, and those go for $333 million and $370 million. A little bit higher than $90 million. Now, central revenue is higher from the new broadcast deal that got renegotiated, quote-unquote, with Sony. But they are on the hook for paying $33 million a year and $37 million a year.

Yep. So unfortunately, these two new teams don't make it. The Kochi franchise goes bankrupt after their first season in the league, withdraws from the league. The Pune franchise makes it two seasons and then also withdraws from the league, citing financial difficulties. And this is the first time, really, where the music stops playing for Lollet. And despite his incredible entrepreneurial success,

Yep. So unfortunately, these two new teams don't make it. The Kochi franchise goes bankrupt after their first season in the league, withdraws from the league. The Pune franchise makes it two seasons and then also withdraws from the league, citing financial difficulties. And this is the first time, really, where the music stops playing for Lollet. And despite his incredible entrepreneurial success,

He has made a lot of enemies along the way.

He has made a lot of enemies along the way.

Right. And now, for the first time, people are losing money. And this is when the knives come out for Modi.

Right. And now, for the first time, people are losing money. And this is when the knives come out for Modi.

Yep. This is their moment. So after the 2010 season, the BCCI suspends Modi from the BCCI board on 22 charges, including bypassing the governing council when making decisions, not following proper processes, and bid rigging in auctions. That's a big one. Who's going to get teams? Yeah. Pretty hard to say that didn't happen.

Yep. This is their moment. So after the 2010 season, the BCCI suspends Modi from the BCCI board on 22 charges, including bypassing the governing council when making decisions, not following proper processes, and bid rigging in auctions. That's a big one. Who's going to get teams? Yeah. Pretty hard to say that didn't happen.

Awarding contracts to his friends, accepting kickbacks on the broadcast deals. Oof. And then the big ones. First, secretly engineering for members of his family and close associates to have initial ownership stakes in three of the original eight IPL teams. Now...

Awarding contracts to his friends, accepting kickbacks on the broadcast deals. Oof. And then the big ones. First, secretly engineering for members of his family and close associates to have initial ownership stakes in three of the original eight IPL teams. Now...

Another BCCI board member, N. Srinivasan, who I think by this time had become the chair of the board and was Lalit's sort of main nemesis on the BCCI board, he directly owned the Chennai Super Kings through Indian Cements. So like, hey, pot calling the kettle black here. And then the last two are big ones that he's accused of, betting on the league and money laundering.

Another BCCI board member, N. Srinivasan, who I think by this time had become the chair of the board and was Lalit's sort of main nemesis on the BCCI board, he directly owned the Chennai Super Kings through Indian Cements. So like, hey, pot calling the kettle black here. And then the last two are big ones that he's accused of, betting on the league and money laundering.

So I referred a minute ago to sort of the underworld of India being involved here. Gambling in India is illegal. Writ large back then and still to this day, it is illegal to gamble full stop in India. However, as you might expect, much like the movie Casablanca, you would be shocked, shocked to find gambling going on in this institution.

So I referred a minute ago to sort of the underworld of India being involved here. Gambling in India is illegal. Writ large back then and still to this day, it is illegal to gamble full stop in India. However, as you might expect, much like the movie Casablanca, you would be shocked, shocked to find gambling going on in this institution.