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Aug 18, 2009, 10.53 PM IST
Commenting on how much the IPL was worth, its Chairman and Commissioner, Lalit Modi, says, according to recent numbers, the brand alone stands at $1.65 billon. “It is now the 5th largest brand in the world of sports in 2 years of operation, just below FIFA and above Wimbledon and F1.” It has become the number one cricketing property in the world.
Lalit Modi's brain-child, the Indian Premier League, took the cricketing world by storm. But Modi is not ready to rest on his laurels. Commenting on how much the brand was worth, Lalit Modi, its Chairman and Commissioner, says, according to recent numbers, the IPL brand alone stands at USD 1.65 billon. "It is now the fifth largest brand in the world of sports in two years of operation, just below FIFA and higher than Wimbledon and F1." The IPL has actually become the number one cricketing property in the world and is only growing, he added.
Here is a verbatim transcript of the exclusive interview with Lalit Modi on CNBC-TV18. Also watch the accompanying video.
Q: How much is the IPL worth now?
A: There are different numbers being put by different analysts. The latest number that we have got from a credible source, a sports media research agency in the
But I think that the valuation is in line. I think the brand worth and the only way is northwards because we have 1 billion alone in
Q: So, a third successful year and you are going to go northwards of USD 1.65 billion, aren’t you?
A: The target is to beat the NFL, which is at USD 4.5 billion.
Q: How long do you give yourself to do that?
A: I think in another four-five years we should beat them.
Q: You will do it earlier, there are more Indians?
A: Cricket is growing phenomenally globally. We just need to ensure that we build on different markets. We had a 680% increase in viewership in
Q: Any talk of taking the IPL public?
A: No. No talks as yet. There have been a lot of murmurs. That was one of the plans we had looked at when we initially conceptualised it. We don’t need the money. I think the Board of Control for Cricket in India (BCCI) needs are all fully taken care of. So, the money will go back to the BCCI, which will go back into the system as the IPL is a non-profit organisation.
Q: Does it worry you somewhat that the IPL was: let’s not kid around, your brainchild? All of you guys in this avatar at the BCCI have made a huge success of it. But a few cricket body elections and all of you could be out on your backsides. Does that worry you? Is that a basis on which to build a USD 1.65 billion business?
A: It should be an USD 8-10 billion business. We shouldn’t be worried about that. There will be somebody else to take it onward.
Q: Do you really believe that?
A: Absolutely! Because you cannot assume and we shouldn’t assume that we will be there for life.
Q: I am not talking about life; I am talking about the next two years?
A: Next two or three years. We have a five-year term. We only had two years finished and so there is another three years of the term. But assuming that we are not reelected after the five-year term we shouldn’t be worried about that because somebody has to carry the torch and go forward.
Q: But there is no possibility you are saying in the next three years of this present administration being disturbed? I am asking you from a business point of view.
A: We have a five-year term as far as the IPL is concerned.
Q: Whatever happens with the Rajasthan Cricket Association, it has got nothing to do with this?
A: Has nothing to do with this.
Q: So you are here to stay at least till the end of that term?
A: That is right.
Tags: Indian Premier League, IPL, Lalith Modi, FIFA, Wimbledon, F1, National Football League, Cricket, BCCI, Rajasthan Cricket Association
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