Lalit Modi, The Founder - IPL .. Episode 1, The Build-up

The Sports Entrepreneurs Podcast by Marcus Luer

Lalit Modi, the Architect and Founder of the IPL (Indian Premier League) – we recorded four episodes to go very deep into his amazing stories from his early days as a young entrepreneur making his marks, to his entry into Cricket (board of BCCI) to the creation of the IPL and controversies after. Lots of amazing stories, facts and anecdotes many told for the first time.

Key Highlights

1. Lalit’s early day, joining the family Tobacco business (Godfrey Philipps India) – the three criteria for the family to support a business
2. JV with Disney in India – licensing, merchandise, etc (Michael Eisner his mentor) - looking to launch sports channel with ESPN – movies, etc
3. Early days of DTH and cable operators in India – Star TV (Prime Sports later Star Sports)
4. Placing Disney TV program on Doordarshan (DD) – huge hit
5. Rupert Murdoch coming into the picture – Modi Entertainment Network – Zee TV story
6. Power of Database from Godfrey Philipps India to launch sports network – IMG Bill Sinrich early days of sales of Indian Cricket rights
7. Leveraging Indian Cricket rights to launch an encrypted sports channel (first India’s Pay channel)
8. Lalit entering Cricket space – Mark Mascarenhas (Worldtel) – the key broker at the time
9. 2002/3 – first time the concept of an Indian Cricket League comes up – 50 over game – Indian Cricket League (ICL)
10. 2005 – Lalit becoming VP of BCCI – commercialization of Indian cricket taking off under his leadership
    1. First Lalit cancels Sahara contract – (paying only USD 100k per year, front of Jersey) – pushed to USD 1 mil per Day of Cricket (105 days)
    2. Nike new kit deal – (Reebok small deal before) – Nike bids 52 mil per year during tender process
    3. Terminating Murdoch’s media contract story – new tender pushing fees up 10x – bids over USD 500 million – political pressure
11. Harish Thawani – Nimbus – USD 612-625 mil (4 years) – launched NEO Sports on back of it
12. ICC T20 World Cup in South Africa, 2007 - re-ignites the ideas of a T20 League
    1. BCCI board gives Lalit a green light to explore the idea since he had already made some a few billions over the past 2 years
    2. Indian Players not very enthusiastic – hadn’t played the format
    3. Subhash Chandra – ZEE TV owner - copied idea and launched ICL first – lots of issues
       1. BCCI stops Indian national team players from joining – international players joined

12. 4. IMG - Andrew Wildblood – enters the frame – Lalit hires them to put the concept together (Aug 2007)
    5. Lalit knows key is for India to do well in T20 WC - offers a Porsche for Six Sixes to any Indian player to motivate them to win the T20 WC
    6. Negotiating with international players in South Africa
    7. Rudra Singh hits six sixes - India vs England – huge news, Indian fans catch the fever and Indian wins the WC
    8. Open Double Decker Bus parade for players – pouring rain on that day – team arriving from South Africa – nine hour tour – 4 million people on the streets
    9. T20 was the new buzz word in India – story to be continued………

About

1. Globally recognized leader, Executive Director of Modi Enterprises, with business interests across nearly every industry vertical. Built a billion-dollar brand in less than a year, launched a revolution to Indian broadcast entertainment, and negotiated partnerships with ESPN, Disney, Google, Ten Sports, B4U, Fashion TV, Voyages TV, Buena Vista Television, United Artists, Marvel, Nike and others.
2. International business strategist who catalyzes transformation and change by capitalizing on unmet demand in domestic and overseas markets. Embraces technology and creates opportunities to enrich lives, create sustainable revenue, and optimize productivity through integration of emerging platforms in social and digital.
3. An entrepreneur at heart with a phenomenal ability to connect people and ideas into revenue-generating enterprises, an active member of the board for one of the oldest and most successful industrial conglomerates in India, and the thought- leader behind radical change in India’s leading Cricket administration, the BCCI.
4. Recognized by Time, Sports Illustrated, Business Week, Forbes, Business Standard, and other influential global media outlets for launch of the Indian Premier League (IPL), one of world’s most popular Cricket organizations.
5. Was Awarded ‘Indian of the Century” by India Today in
6. Forbes nominated Modi as “Rainmaker of the Century”
7. Against extensive political and economic challenges, brought IPL to South Africa, and sustained the same phenomenal levels of viewership and attendance despite the move.
8. Columbia University and Stanford University Both did case studies on Modi, which are still being taught in Universities across the world.
9. Created billions dollar opportunities, and played an integral role in shaping the cultural direction of Modern India as visionary behind transformational changes in broadcast, sports, entertainment, and consumer products.

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