Lalit Modi, the former head of the Indian Premier League, has verified that the offer for Royal Challengers Bengaluru has reached a staggering USD 1.75 billion, attracting interest from Avram Glazer, co-owner of Manchester United. Modi explained that this valuation is based on the current structure of 74 matches in the league, rather than a potential 94-game format that he anticipates in the future. He emphasized that expanding the number of matches would significantly boost franchise values and overall league revenues.
Modi highlighted the importance of this growth in fortifying the Board of Control for Cricket in India (BCCI) amidst anticipated pressures on traditional revenue sources. He cautioned that the BCCI’s share of International Cricket Council revenues could potentially decrease by 50–60%, while income from bilateral media rights might also halve. Despite these challenges, Modi expressed confidence in the IPL’s ability to offset these potential losses. He projected that the upcoming media rights cycle for the league, set to be concluded within the next year, could witness values doubling at the very least. Modi stated, “I have zero doubts about that.”
Assessing the broader cricket landscape, Modi pointed out that a crowded global calendar and concerns regarding player workload could lead to a reduction in bilateral and ICC events. Simultaneously, the financial influence of domestic T20 leagues is expected to attract players towards franchise cricket. Modi remarked, “This trend is inevitable,” underscoring that the BCCI is poised to gain the most under the current market conditions. He added, “Indians cherish cricket — particularly Indian cricket.”
