Lalit Modi
👤 PersonAppearances Over Time
Podcast Appearances
There's one other really fun sort of history turns on a knife point element to cricket in India. So like you said, Ben, cricket was the most popular sport in India before 1983. But that didn't mean that much. It hadn't captured the country's imagination that much yet.
There's one other really fun sort of history turns on a knife point element to cricket in India. So like you said, Ben, cricket was the most popular sport in India before 1983. But that didn't mean that much. It hadn't captured the country's imagination that much yet.
It was a British thing. There's an amazing line about this by an author named Ashish Nandi, who wrote a book called The Tao of Cricket. And he says, cricket is an Indian game accidentally discovered by the English.
It was a British thing. There's an amazing line about this by an author named Ashish Nandi, who wrote a book called The Tao of Cricket. And he says, cricket is an Indian game accidentally discovered by the English.
Yep. So all this launches ESPN in India. And there's back and forth for a couple years between Star and ESPN. They're bidding over these cricket rights with the BCCI. Eventually, in 1996, they decide, hey, let's stop fighting each other. Let's just merge. Antitrust regulation in India is not quite what it is in the U.S. at this point in time. No.
Yep. So all this launches ESPN in India. And there's back and forth for a couple years between Star and ESPN. They're bidding over these cricket rights with the BCCI. Eventually, in 1996, they decide, hey, let's stop fighting each other. Let's just merge. Antitrust regulation in India is not quite what it is in the U.S. at this point in time. No.
So Star and ESPN merge, and to hear Lollet tell the story, Rupert Murdoch is kind of a sore loser here that Lollet came in and increased the money that he had to spend for these cricket rights, ultimately had to merge with ESPN. He decides that he's going to kick Lollet out of his baby, out of this company post-merger. Now, is that really what happened? That's Lollet's side of the story.
So Star and ESPN merge, and to hear Lollet tell the story, Rupert Murdoch is kind of a sore loser here that Lollet came in and increased the money that he had to spend for these cricket rights, ultimately had to merge with ESPN. He decides that he's going to kick Lollet out of his baby, out of this company post-merger. Now, is that really what happened? That's Lollet's side of the story.
Star Disney, the merged entity, would allege that Lollet underreported revenues that they were collecting and was accepting kickbacks from the cable operators, all sorts of stuff. There's a big lawsuit about it, goes on for a couple years, and at the end of it, Lalit gets booted out of the business. And despite his family's 50% ownership in that original ESPN Disney joint venture, he gets nothing.
Star Disney, the merged entity, would allege that Lollet underreported revenues that they were collecting and was accepting kickbacks from the cable operators, all sorts of stuff. There's a big lawsuit about it, goes on for a couple years, and at the end of it, Lalit gets booted out of the business. And despite his family's 50% ownership in that original ESPN Disney joint venture, he gets nothing.
So from his perspective, he's like, hey, I started Disney India. I modernized cable in India. I brought sports to India. I did this. And now all of a sudden I'm out in the cold and I get nothing. And in his mind, Rupert Murdoch is the reason that this happened.
So from his perspective, he's like, hey, I started Disney India. I modernized cable in India. I brought sports to India. I did this. And now all of a sudden I'm out in the cold and I get nothing. And in his mind, Rupert Murdoch is the reason that this happened.
My sworn enemy from here onwards. And thus begins a 10 to 15 year journey that is not just the ultimate revenge play by Lollett on Rupert, But accidentally along the way starts the biggest sports entrepreneurial story phenomenon that has ever existed.
My sworn enemy from here onwards. And thus begins a 10 to 15 year journey that is not just the ultimate revenge play by Lollett on Rupert, But accidentally along the way starts the biggest sports entrepreneurial story phenomenon that has ever existed.
Yep. And this is probably the right moment to say a word about the nature of doing business in India, at least at this point in time.
Yep. And this is probably the right moment to say a word about the nature of doing business in India, at least at this point in time.
The euphemism, I believe, that the Indian business environment is referred to as a low-trust environment, i.e., this is par for the course.
The euphemism, I believe, that the Indian business environment is referred to as a low-trust environment, i.e., this is par for the course.