IPL or the Indian Premier League, a brand that grew into a global brand within two years. A multi-millionare brand, with loads of glitz n glam surrounding this cricketing extravagenza, from film-stars to Corporates everybody joined and invested in this business…but what made these millionare people feel so excited about this venture….?? Well, have no answer to this. Eight Hyped teams, high salaries to the players and high fines all made this event as one of the “Highly” awaited event in India. It was the first sporting event ever to be broadcast live on the popular video sharing website Youtube. The Indian Premier League’s brand value was estimated to be around $4.13 billion (over Rs 18,000 crore) in 2010. According to global sports salaries review, IPL is the second highest-paid league, based on first-team salaries on a pro-rata basis, second only to the NBA. It is calculated that the average salary of IPL over a year is £2.5 million.
But, just when aal was going well for the IPL cheif commissioner Mr. LalitKModi (twitter id), suddenly there was a total change in his situation. Though, controversies are something which has always kept Mr. Modi in news as well as in limelight, whether its the Conflict with the England and Wales Cricket Board, Cricket Australia, Pakistan Cricket Board or the other boards. Even there were news about conflicts Media restrictions. Controversies surrounded oh sorry haunted IPL right from the beging but was never able to hijack it. But this time, guess Mr. Modi messed with a wrong person a politician, “Shashi Tharoor”. Allegations and counter-allegations from not only Tharoor but even from his own den worsten the situation for him. With government and the Income Tax Departement intervening the case it seems that Lalit Modi is totally screwed.
Moreover in a country like India where the government is continuously peeping into your bank accounts just to ensure that you are not being benefited from your earnings untill and unless the governtment gets benefited (includes all political parties) it is understood that Mr Modi would have been on the government radar for quite sometime. The alleged opaqueness with which he conducted the multi-billion dollar cricket tournament and the manner in which he took on home minister P.Chidambaram in 2009 seems to have resulted in a detailed enquiry into his activities by the I-T department. The alleged activities of the controversial IPL commissioner, ranging from his manipulation of land deals in Rajasthan and the existence of a maze of shell companies and offshore entities used to route payments and equity stakes worth hundreds of crores of rupees has put him into some real troubles. I also got to know about this allegation through television that Mr Modi—through his associates—was ‘involved’ in ‘betting’. According to ET “The six-month-old report, which I-T sleuths maintain is the basis of current investigations, is obviously referring to betting and insider information in the first two IPL tournaments,” not the current one though.
Mr. Modi is also in front of the gun barrel because of the alleged ownership issue. It is said that Modi has silent ownership in three IPL teams—Rajasthan Royals, Kolkata Knight Riders and Kings XI Punjab. Incidentally, Rajasthan Royals won the first IPL tournament in 2008. I have also read that the tax department also accessed details of a transaction relating to the purchase of a luxury yacht in Malta that is to be delivered in Mumbai or Dubai. So is there any investment from the underworld..?? well that’s yet to confirm…but surely there is something.
Apart from these there are allegations about the ‘Conflicts of interest.’ What I gathered from the media is that WSG and IMG, two companies that received BCCI contracts, are both old business partners in Modi’s own businesses. Modi Entertainment Networks runs Fashion TV in India. IMG did business with Fashion TV for years before it won the contract for managing IPL. It is also said that IMG, a powerful global firm with interests in sports, media and entertainment, was to get 10% of IPL’s revenues as management fee.
Well as all allegations force him to duck more n more, it seems that there is no way out for Modi. But as they say a good leader is one who can think of the unexpected & can work accordingly, I am sure Lalit Modi must have a back up plan to accomodate his innocence and plea. If he’s really innocent then the whole country is with Mr. Modi. But since the whole BCCI has disowned Modi, Isn’t it the right time for him to divert his focus towards Indian Soccer/Football and organise something like this…??
An IFL..Indian Football League!!
What do you think Mr. Modi???