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News India Live, Digital Desk: Father and former commissioner of the Indian Premier League (IPL) Lalit Modi has given a statement which has created a stir in the corridors of the Board of Control for Cricket in India (BCCI). Modi has revealed that his original vision was for the IPL to be a fully fledged BCCI rather than a subsidiary. Independent Company It was proposed to be established as. According to Lalit Modi, if this had happened then the global impact of IPL and its financial structure would have been different today.
What was Lalit Modi’s ‘master plan’?
Lalit Modi told in an interview that when the foundation of IPL was laid in 2008, he had suggested registering it as a separate corporate entity.
Independent Board: This company would have its own separate board of directors, which would include representatives from BCCI as well as professional corporate leaders and independent members.
Listing Plan: Modi’s vision was also to list it in the stock market, so that common people could also become stakeholders in this league.
Freedom to take decisions: Being an independent company, IPL could be kept away from political interference and business decisions could be taken faster.
Why did BCCI reject this proposal?
According to Lalit Modi, the then high command of BCCI had completely rejected this idea. The main reason behind this ‘control’ Was.
financial control: BCCI did not want the ‘golden bird’ like IPL to go out of their direct control. Becoming an independent company would have meant that the audit and management of revenues would have been separate from the main accounts of BCCI.
Domination: Having the IPL become independent would have reduced the power of the BCCI, as the league itself was on its way to becoming the largest sports property in the world.
If there were an independent company, what would have changed today?
Experts believe that if this proposal of Lalit Modi had been accepted, the situation today would have been something like this:
Global Expansion: Instead of IPL teams and brands purchasing other leagues around the world (such as the SA20 or ILT20), the IPL itself would have become a global umbrella brand.
Valuation: As an independent company, IPL’s market value would have been much higher than today’s estimated $16 billion (about ₹1.3 lakh crore).
Transparency: Corporate governance would have made the league’s functioning and handling of controversies (such as fixing scandals) more professional.
‘IPL has become BCCI’s property’
Lalit Modi taunted in his statement that at present IPL has become only a ‘cash cow’ of BCCI. He also indicated that if the IPL is to tap its full potential in the future, it will one day have to move out of the administrative structure of the BCCI and operate as an independent business entity.