Lalit Modi and Future of IPL

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Recent happening with IPL is very unfortunate which started with bidding for the Kochi Franchisee and further tweeting by Lalit Modi the Big Boss of IPL regarding the stake holders of the Kochi Franchisee. The Sweat equity issued to Sunanda Pushkar who is a close associate of Shashi Tharoor led to an aligation against Sashi Tharoor . Sunanada Pushkar is a business woman based in Dubai, basically and Indian from Kashmir.

The Shashi Tharoor and Sunanda Pushkar Story

The controversy led to the resignation of Shashi Tharoor from his Minister post. I feel, Shashi Tharoor did  a mistake. Explanations from Shashi Tharoor were not convincing to the UPA leaders including the Prime Minister and was asked to quit. The reason I feel that Shashi Tharoor did a mistake is not that he took a kickback (not proved yet) for this deal, but while holding a Minister post, he should not have got involved when a sweat equity (shares paid for some kind of hard work)was given to his known friend. As per his explanation given to NDTV, he did it for his state and his love for cricket which is something acceptable. It’s  very natural that he got into trouble because, its always been like this and shows that he is very new to Indian Politics and don’t know how to take kickbacks(If it was so). He is a very accepted leader but he did not know Indian politics and the dirty games involved. He has a very clean history till date, so we cannot confirm what was the real deal unless a fair investigation is done. Today Shashi Tharoor spoke in the parliament giving some clarifications and also informed that he has requested the Prime Minister to do an investigation so that he can get things cleared and let the country know about his involvement in this Bid.

Now comes the interesting part :-

The Lalit Modi and IPL story

IPL is a very valuable product and has taken Indian cricket to a very high level. Billions of dollars being transacted in this event and every cricket lover loved this event. Lots of money is involved in IPL with big corporates investing in this product. Lalit Modi has done a great job to bring IPL to this level and I am sure every Franchisee has accepted this.

IPL being an event which involves lot of money with no transparency now leaves lots of un-answered questions in the mind of every cricket lover. I have never read anywhere how much money each Franchisee is earning and how are they making money. What is the amount of money received from the sponsors and other events are not made known to the public. After these allegations and controversies, many facts are coming out. Nothing is proved yet, but the allegations sounds worrying. Many politicians involved, unknown stake holders, some sweat equity stake holders, betting, match fixing, money laundering , scams, etc. Modi was even alleged to have offered US$ 50 million to the Kochi franchisee to go back and give the Franchisee to Ahmedabad.

As normal citizens, we just know what we read and hear from the media. The IPL Scam is now the top headlines of most of the Indian newspapers these days and people like Shashi Tharoor and Lalit Modi and the news makers in different television channel.

The Government of India has decided to probe the IPL transactions and the details of the income and bring the details to the public domain. The finance minister has assured the citizens of India that he will make sure that everything in and out of IPL will be thoroughly investigated and the culprits will be punished. Will the investigation be fair, surely it has to be, because now the media is doing better investigations and information passed to the public. Lalit Modi has reported to have some criminal charges in the past and I am sure, he is not a very clean person. He will not work so hard to take IPL to such big height unless he has a good personal earnings. He is already under the scanner, his credit card transactions being scanned, his phone tapped, etc.

There are many questions in a common person’s mind regarding IPL

  1. How does the IPL Franchisees make money?
  2. How much does Lalit Modi earns from IPL?
  3. Why is the demand for Franchisee when the current IPL Franchisee says that they are losing money?
  4. Who are the real owners of these IPL teams?
  5. What is the money involved in these matches and who all are making the real money?
  6. Are there any kind of betting or match fixing?
  7. How are politicians involved in IPL?
  8. Is there any tax benefit for IPL team owners?

There are few questions which came in my mind when I wrote this post and I sure many of you also don’t know the real numbers as answers. Its not small money, US$ 3 billion is the money behind IPL which is raised from the Franchisee and television rights

Finance minister Pranab Mukherjee told Parliament in New Delhi yesterday that “all aspects” of the competition will be investigated including how more than $3bn raised from franchise sales and television rights have been invested.

Fate of Lalit Modi

IPL is well know to be Lalit Modi’s Baby and most of the channels showing that Lalit Modi is asked to quit after this season of IPL final match which is on the 25th of this month. He just returned from Dubai on a chartered flight cornered by media people sang the question himself and answered that everything will be proved and he will bring out the facts.

Probable possibilities if Modi is forced to quit

Many politicians, celebrities, corporate heads may find themselves in trouble. Lalit Modi will not keep his mouth shut. He will surely bring all the facts and names out. We need to wait and see to know if we as the public were kept indark? Twitter has done a lot as all these started from tweets from Lalit Modi. Will people lose the confidence in charm and think its something like WWE.

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