Overview:
Lalit Modi has not been residing in India since 2010 due to allegations of tax evasion and money laundering.
Former IPL Chairman Lalit Modi slammed Lucknow Super Giants owner Sanjiv Goenka over his comments on the sales of Royal Challengers Bengaluru and Rajasthan Royals.
RR was bought by a Kal Somani-led consortium for USD 1.63 billion dollars. On the other hand, RCB, the defending champions, were acquired by a consortium comprising Aditya Birla Group, Blackstone, Times of India Group and Bolt Ventures for 1.78 billion dollars. Goenka didn’t give importance to Modi’s role in IPL’s growth and instead credited former BCCI secretary and the current ICC head Jay Shah. Modi hit out at Goenka and called him a clown, making fun of his memory.
“Seriously this guy really has a memory loss of who conceived the model. Thats ok. He just lives in his own world. We all know that @DrSanjivGoenka is a (clown emoji) wish it was his brother @hvgoenka who owned the ipl franchise. He is a true cricket fan. Not this clown – who thinks his tweet will change history. Just proves he has zero knowledge. Just swelled up head Jai hind. @IPL,” Lalit Modi posted on X (formerly Twitter).
Earlier, the LSG owner opined on the sales of the two teams.
“@rajasthanroyals, acquired for roughly ₹270 crore in 2008, have just been sold for over ₹15,000 crore. @RCBTweets, acquired for roughly ₹485 crore, sold for over ₹16,600 crore. Two franchises, same week, each over ₹15,000 crore,” Goenka wrote on X.
“That value was built by the architecture of the IPL. The way broadcast and digital rights were structured. The governance that gave brands confidence to invest at premium levels. Much of this traces back to the vision of @JayShah,” he added.
Lalit Modi has not been residing in India since 2010 due to allegations of tax evasion and money laundering.
The Enforcement Directorate claimed Modi received a kickback of over 125 crores for manipulating the broadcast rights of the IPL in 2009.
