Lalit Modi

All of this amazing and delicious sidebar is just to point out that there's a lot of inventory here. The Indian national team is playing 105 days per year. And the Sahara group is getting their logo on their white cable knit vests for $100,000 a year.

All of this amazing and delicious sidebar is just to point out that there's a lot of inventory here. The Indian national team is playing 105 days per year. And the Sahara group is getting their logo on their white cable knit vests for $100,000 a year.

Indeed. So Lollett, here now in 2005, when he finally gets on the BCCI, first thing he does is he goes to Sahara and he says, the price is going up. It is now $1 million, Ben, as you were saying, per day of competition. So you are going to go from spending $100,000 a year to spending $105 million per year. And oh, by the way, if you don't want to do that, that's fine.

Indeed. So Lollett, here now in 2005, when he finally gets on the BCCI, first thing he does is he goes to Sahara and he says, the price is going up. It is now $1 million, Ben, as you were saying, per day of competition. So you are going to go from spending $100,000 a year to spending $105 million per year. And oh, by the way, if you don't want to do that, that's fine.

I'm happy for you not to do that. I'm then going to go put this out to auction and we'll see who is willing to pay that. To give you a sense of just how much latent value there is here, I don't think it goes to auction. I think Sahara just says, okay.

I'm happy for you not to do that. I'm then going to go put this out to auction and we'll see who is willing to pay that. To give you a sense of just how much latent value there is here, I don't think it goes to auction. I think Sahara just says, okay.

I mean, if you want to reach the nation of India, there are two ways to do it. Bollywood and cricket. That's it. Yep. So, when this massive escalation happens in 2005... I believe this is correct. Overnight, this becomes the highest paid jersey logo deal of any sport on the entire planet.

I mean, if you want to reach the nation of India, there are two ways to do it. Bollywood and cricket. That's it. Yep. So, when this massive escalation happens in 2005... I believe this is correct. Overnight, this becomes the highest paid jersey logo deal of any sport on the entire planet.

So basically not even commercial to now the single largest logo sponsorship in the world. And now why is Lalit able to all of a sudden extract this huge record-breaking amount of value for this sponsorship, whereas before it was really not even commercial? We alluded to it before, but the rise of the Indian middle class is what's driving it. Everything here.

So basically not even commercial to now the single largest logo sponsorship in the world. And now why is Lalit able to all of a sudden extract this huge record-breaking amount of value for this sponsorship, whereas before it was really not even commercial? We alluded to it before, but the rise of the Indian middle class is what's driving it. Everything here.

So one stat I saw was that in the early 90s, when we started our story a little bit ago, while it was first getting involved, Disney and Star were entering the Indian market. There were only about 2 million households in India that had a disposable income of $10,000 or greater. Wow. By the time here we are now that Lalit gets on the BCCI and is wrecking all these deals, it's 10x that.

So one stat I saw was that in the early 90s, when we started our story a little bit ago, while it was first getting involved, Disney and Star were entering the Indian market. There were only about 2 million households in India that had a disposable income of $10,000 or greater. Wow. By the time here we are now that Lalit gets on the BCCI and is wrecking all these deals, it's 10x that.

So there's, call it, 20, 30 million households now in India that are, by that definition, at least middle class. Fast forward to today, it's another 10x plus that number. You know, there's 400, close to 500 million people, households in India that have that level of spending.

So there's, call it, 20, 30 million households now in India that are, by that definition, at least middle class. Fast forward to today, it's another 10x plus that number. You know, there's 400, close to 500 million people, households in India that have that level of spending.

Right. Yeah, you just said it was 550 million people. Yes. I mean, full stop, pause, let this sink in. The middle class in India, per this definition, but still, like, that is enough annual income that you can spend it on consumer goods. is bigger than all of America. That's what's going on here.

Right. Yeah, you just said it was 550 million people. Yes. I mean, full stop, pause, let this sink in. The middle class in India, per this definition, but still, like, that is enough annual income that you can spend it on consumer goods. is bigger than all of America. That's what's going on here.

To all of a sudden buying Pepsi, buying cell phones, buying mobile data plans, buying, oh, I don't know, Nikes and Reeboks. So what's the next thing that Lalit does after this Sahara deal? There's no gear sponsor. There's no kit sponsor for the team at this point in time. I think some of the individual cricketers had had some super cheap early deals with Nike or Reebok or whatever.

To all of a sudden buying Pepsi, buying cell phones, buying mobile data plans, buying, oh, I don't know, Nikes and Reeboks. So what's the next thing that Lalit does after this Sahara deal? There's no gear sponsor. There's no kit sponsor for the team at this point in time. I think some of the individual cricketers had had some super cheap early deals with Nike or Reebok or whatever.

Lalit goes to the three big companies, Nike, Adidas, Reebok, and says, hey, I'm putting out for bid for auction being the kit provider, the gear provider, kit being the British term for athletic gear. Or cycling. Or cycling, yes, to the Indian national team. And yeah, if you want to win this, I'm expecting minimum $50 million a year.

Lalit goes to the three big companies, Nike, Adidas, Reebok, and says, hey, I'm putting out for bid for auction being the kit provider, the gear provider, kit being the British term for athletic gear. Or cycling. Or cycling, yes, to the Indian national team. And yeah, if you want to win this, I'm expecting minimum $50 million a year.