Lalit Modi

Who was coming up right around the time the IPL was started. Was actively playing right through all of this happening. And Ed did the Business Breakdowns episode about the IPL which has been an amazing resource for us. And we'll link to the show notes. It was a great, great episode. And then we talked to him afterwards. So here's Ed's quote about this.

Who was coming up right around the time the IPL was started. Was actively playing right through all of this happening. And Ed did the Business Breakdowns episode about the IPL which has been an amazing resource for us. And we'll link to the show notes. It was a great, great episode. And then we talked to him afterwards. So here's Ed's quote about this.

In many ways, the IPL was a bit of a bellwether for foreign investment at scale. And the government realized that it was in their best interest to promote a vision that proper governance really was at the forefront of the new modern India. And it was important for people to be able to invest in India.

In many ways, the IPL was a bit of a bellwether for foreign investment at scale. And the government realized that it was in their best interest to promote a vision that proper governance really was at the forefront of the new modern India. And it was important for people to be able to invest in India.

And in many respects, the current structure where we have Redbird or CVC, big institutional investors in the IPL, which we will get to in just a sec, that wouldn't have been possible without the new governance structures that were put in place circa 2015 by the Supreme Court. I mean, this whole thing almost went down the tubes. Like, it was this close. And the Supreme Court saved it.

And in many respects, the current structure where we have Redbird or CVC, big institutional investors in the IPL, which we will get to in just a sec, that wouldn't have been possible without the new governance structures that were put in place circa 2015 by the Supreme Court. I mean, this whole thing almost went down the tubes. Like, it was this close. And the Supreme Court saved it.

But the more important thing, though, is, yes, there's the value and money aspect of it, but it's India's reputation. There are other industries where India is a global leader, but they tend to be more back office type industries like outsourcing, like Infosys, Wipro, etc.

But the more important thing, though, is, yes, there's the value and money aspect of it, but it's India's reputation. There are other industries where India is a global leader, but they tend to be more back office type industries like outsourcing, like Infosys, Wipro, etc.

You look at the biggest companies in India by market cap, and they are all either global outsourcing companies, back office type companies, or or purely domestically focused companies. So like Tata, Reliance, etc. These are huge, huge conglomerates. But especially at that point in time, they're not particularly active as global leaders outside of India.

You look at the biggest companies in India by market cap, and they are all either global outsourcing companies, back office type companies, or or purely domestically focused companies. So like Tata, Reliance, etc. These are huge, huge conglomerates. But especially at that point in time, they're not particularly active as global leaders outside of India.

The IPL has kind of against all odds become like India's national champion here. That's such a great point. That's kind of a crazy statement to make, but it's true. Wow, yeah.

The IPL has kind of against all odds become like India's national champion here. That's such a great point. That's kind of a crazy statement to make, but it's true. Wow, yeah.

So, again, horrible moment for the league, for the owners, for Modi, for Srinivasan, but frankly kind of necessary to clean this all up and make it ironclad enough that global private equity firms and global media companies in the ensuing years continue to come in and invest in this league.

So, again, horrible moment for the league, for the owners, for Modi, for Srinivasan, but frankly kind of necessary to clean this all up and make it ironclad enough that global private equity firms and global media companies in the ensuing years continue to come in and invest in this league.

Yep. So 2017, after the dust has settled on all this, the original meteorites deal is finally up. The renegotiated, quote-unquote, original meteorites deal.

Yep. So 2017, after the dust has settled on all this, the original meteorites deal is finally up. The renegotiated, quote-unquote, original meteorites deal.

Yes. It's finally up, and Modi's no longer in the driver's seat here. So who comes in and does the deal? Rupert Murdoch. Star. Rupert finally, finally, after, what are we now, 10, 11 years in? 12 years in? Yeah. comes back to Indian cricket and does a $2.5 billion five-year deal. So twice the value of the renegotiated Sony deal.

Yes. It's finally up, and Modi's no longer in the driver's seat here. So who comes in and does the deal? Rupert Murdoch. Star. Rupert finally, finally, after, what are we now, 10, 11 years in? 12 years in? Yeah. comes back to Indian cricket and does a $2.5 billion five-year deal. So twice the value of the renegotiated Sony deal.

Yeah. The renegotiated Sony deal was $2.4 billion over 10 or 9. So we've gone from 60 slash 100 to 250 to now to 500 a year. Yep. So that happens in the first half of 2017. And then the other shoe drops December 2017. Disney acquires all of 21st Century Fox for, I think, about $70 billion, inclusive of Star and all the operations in India and this contract.

Yeah. The renegotiated Sony deal was $2.4 billion over 10 or 9. So we've gone from 60 slash 100 to 250 to now to 500 a year. Yep. So that happens in the first half of 2017. And then the other shoe drops December 2017. Disney acquires all of 21st Century Fox for, I think, about $70 billion, inclusive of Star and all the operations in India and this contract.