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Lalit Modi's enduring legacy: IPL, and cricket’s changing economy

Why the Indian Premier League is unlike anything Indian cricket has seen - on or off the field.

June 18, 2022 / 14:33 IST
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Indian Premier League (IPL) founder Lalit Modi at a sports management conference in London, United Kingdom, in 2010. (Image: Action Images/Jed Leicester via Reuters)

Earlier this week, media rights for the 2023-27 cycle of the Indian Premier league (IPL) – television and digital rights combined – were sold at an astounding Rs 48,390 crore, nearly triple what the Board of Control for Cricket in India  (BCCI) got for them in the 2018-22 cycle. The five seasons will amount to 370 matches, which means the BCCI will earn INR 49.6 lakh per ball – and that is just from broadcasting.

One can see why channels pay such exorbitant amounts to cover the IPL. A league-stage clash (not a playoffs match) between the Mumbai Indians and Chennai Super Kings in 2021 was watched by 367 million. The 2019 World Cup final – the most high-profile international match – attracted a mere 167 million, while the Boxing Day Test match of the 2021/22 Ashes was watched by a mere 440,000. The numbers seem even more astounding if one considers the durations of the three matches.

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The figures demonstrate the gargantuan size of the Indian cricket fanbase. Despite the rise of other sports and corresponding leagues, the second-most populated country in the world remains largely devoted to one sport.

While many had acknowledged this, the first person to understand its enormity and to make significant attempts to profit from it was Lalit Modi. The story usually begins with 2008, the first edition of the IPL, but it should not, for the IPL had been conceived in the mid-1990s.