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Business News›News›Trending›Lalit Modi, IPL founding chairman wants 20 more matches each year; claims franchises & BCCI losing Rs 2400 crore
Lalit Modi, IPL founding chairman wants 20 more matches each year; claims franchises & BCCI losing Rs 2400 crore
Synopsis
IPL founding chairman Lalit Modi has alleged that the BCCI and franchises are losing nearly Rs 2,400 crore in media rights revenue by failing to adhere to a full home-and-away format. Modi argued that the current 74-match schedule violates original franchise agreements which mandate every team play each other twice.
ET OnlineLalit Modi, the founding chairman of the Indian Premier League, has publicly challenged the BCCI’s management of the tournament’s format, asserting that the board is currently bypassing a contractual obligation to provide franchises with a comprehensive home-and-away schedule. In a detailed assessment of the league’s commercial health, Modi stated that the decision to limit the tournament to 74 matches—despite having 10 teams—results in a direct loss of approximately Rs 2,400 crore in potential media rights revenue. This critique comes on the heels of massive ownership shifts in the league, where Royal Challengers Bengaluru was recently acquired by the Aditya Birla Group for Rs 16,700 crore, highlighting a massive gap between current and realized market value.
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