Lalit Modi

Yep, 138 million viewers for the biggest U.S. TV event in history. Back in 2019, there were already 300, 400 million people over twice that watching the IPL finals.

Yep, 138 million viewers for the biggest U.S. TV event in history. Back in 2019, there were already 300, 400 million people over twice that watching the IPL finals.

Is watching the regular season. Yes. Yes. This thing is so big.

Is watching the regular season. Yes. Yes. This thing is so big.

That was the big bet and the payoff of the Reliance Jio entering the data market in 2016 and smartphone adoption just exploding in India. Yeah. Right. So then 2021 IPL does expand successfully this time. There are two new teams sold at auction. The Gujarat Titans, which are acquired by the big British private equity firm CVC for $750 million. That's the new high watermark.

That was the big bet and the payoff of the Reliance Jio entering the data market in 2016 and smartphone adoption just exploding in India. Yeah. Right. So then 2021 IPL does expand successfully this time. There are two new teams sold at auction. The Gujarat Titans, which are acquired by the big British private equity firm CVC for $750 million. That's the new high watermark.

Before that, I think it was, what, $300 million? Yeah. Well, it's the new high watermark for a minute because the other team, the Lucknow Super Giants, are bought by a domestic investor group for $950 million. So just a hair under a billion.

Before that, I think it was, what, $300 million? Yeah. Well, it's the new high watermark for a minute because the other team, the Lucknow Super Giants, are bought by a domestic investor group for $950 million. So just a hair under a billion.

Now, the payment terms are paid in equal ratable installments over 10 years. And then this time, those payments are redistributed to the other existing eight teams in the league.

Now, the payment terms are paid in equal ratable installments over 10 years. And then this time, those payments are redistributed to the other existing eight teams in the league.

Because the new teams coming in are diluting the central meteorite values.

Because the new teams coming in are diluting the central meteorite values.

That's a good question. I don't know if it's 50% BCCI, 50% of the teams. Either way, the BCCI is still taking their 50% cut. However, post the Supreme Court reforms is a much more buttoned up organization. Makes sense. Also in 2021, Redbird, which is a U.S. New York City-based sports-focused private equity firm, they invest in the Rajasthan Royals.

That's a good question. I don't know if it's 50% BCCI, 50% of the teams. Either way, the BCCI is still taking their 50% cut. However, post the Supreme Court reforms is a much more buttoned up organization. Makes sense. Also in 2021, Redbird, which is a U.S. New York City-based sports-focused private equity firm, they invest in the Rajasthan Royals.

So we've come so far here that the Rajasthan Royals, the cheapo franchise in the beginning, had the original foreign direct investment from the U.K. Then were part of the spot-fixing scandal, get suspended for two years. Now you've got one of, if not the biggest, sports private equity firms in the world.

So we've come so far here that the Rajasthan Royals, the cheapo franchise in the beginning, had the original foreign direct investment from the U.K. Then were part of the spot-fixing scandal, get suspended for two years. Now you've got one of, if not the biggest, sports private equity firms in the world.

I think Redbird is like a $10 billion assets under management firm coming in and investing in that franchise in the IPL. Yep. Global stage. And really just speaks to like the Supreme Court cleaning things up in 2015 was absolutely huge for the IPL.

I think Redbird is like a $10 billion assets under management firm coming in and investing in that franchise in the IPL. Yep. Global stage. And really just speaks to like the Supreme Court cleaning things up in 2015 was absolutely huge for the IPL.

So all that takes us to summer of 2022 after the IPL season, the Star deal is up. Time for a new rights deal. Time for a new rights deal. And the BCCI signs not one, but two deals. Separate deals for terrestrial television and digital streaming.

So all that takes us to summer of 2022 after the IPL season, the Star deal is up. Time for a new rights deal. Time for a new rights deal. And the BCCI signs not one, but two deals. Separate deals for terrestrial television and digital streaming.