Lalit Modi

Lalit Modi, born on November 29, 1963, is a well-known Indian businessman and sports leader praised for creating the Indian Premier League (IPL). He came up with the idea of a franchise-based Twenty20 cricket league, changing how cricket is played. From 2008 to 2010, he led the IPL, turning it into a huge global success with famous international players.

Unfortunately, Lalit Modi's time in charge had some problems. People accused him of doing financial things that weren't right and having conflicts of interest. In 2010, he got suspended from the Board of Control for Cricket in India (BCCI), ending his official role with the IPL. Despite the issues, Lalit Modi made a big impact on cricket by mixing sports and business, making new standards for cricket leagues around the world.

Besides cricket, Lalit Modi has done different business projects and is well-known for his work in sports, entertainment, and starting businesses. His legacy is linked to how cricket has changed and become more commercial on a global level.

Early Life and Education

Lalit Modi was born in Delhi on November 29, 1963, into a famous business family. His parents were Krishan Kumar Modi and Bina Modi, and he has an older sister named Charu Modi Bhartia and a younger brother named Samir Modi. Lalit's grandfather, Gujar Mal Modi, started the Modi Group business and the town of Modinagar, while his father, KK Modi, expanded the family business.

Lalit started school at Bishop Cotton School in Shimla in 1971 but had to move to St Joseph's College, Nainital because there was a threat of him being kidnapped. In 1980, he got expelled from St. Joseph's for not attending classes and leaving school to watch a movie.

Between 1983 and 1986, Lalit went to the United States to study electrical engineering and business administration. He spent two years at Pace University in New York and then one year at Duke University in North Carolina. However, he didn't finish his studies at either of these schools.

Modi Arrest

In 1985, when he was in his second year, Lalit Modi and three other students tried to buy drugs but ended up getting robbed of $10,000 at a motel. The next day, they suspected someone of setting them up and got into a fight with that person. Lalit Modi was arrested on March 1, 1985, on charges of planning to sell drugs, assault, and kidnapping. The next day, he and another student were officially accused of these crimes. Lalit Modi admitted guilt in the Durham County court, North Carolina, and later made a deal to avoid prison. Instead, he got a suspended two-year prison sentence, meaning he wouldn't go to jail if he followed certain rules. He was also put on probation for five years and had to do 100 hours of community service.

In 1986, Lalit Modi asked the court if he could go back to India because of his health. The court agreed, and instead of finishing his community service in the United States, he was ordered to do 200 hours of community service in India. His return to India was made easier by some of his father's business friends, including Leonard Lauder.

In 1986, Lalit Modi returned to Delhi and started working in the family business. From 1987 to 1991, he was the President of the International Tobacco Company Limited. Then, on August 21, 1989, he became a Non-Executive Non-Independent Director at Godfrey Phillips India, a big tobacco company in India. This company was a partnership between his family's business, Modi Enterprises, and Philip Morris International. In February 1992, he became an executive director of Godfrey Phillips India and stayed in that role until August 1, 2010.

Personal Life

In Delhi, Modi started dating Minal Sagrani, who was older than him by nine years. Minal, a divorced mother, was the daughter of a businessman and had faced opposition from Modi's family. However, Modi convinced his grandmother to support the relationship, and they got married in Mumbai on October 17, 1991. Initially living in Mumbai, they faced social issues in Delhi. They had two children, Ruchir and Aliya. Minal passed away from cancer on December 10, 2018. In July 2022, Modi announced he was dating former Miss Universe Sushmita Sen.

Business Career

In 1993, Modi used money from his family's trust to create Modi Entertainment Networks (MEN). MEN partnered with Walt Disney Pictures for a 10-year deal to show Disney content in India, including Fashion TV. In 1994, MEN secured a $975 million, ten-year contract to distribute ESPN across India, collecting money from cable companies. However, ESPN accused Modi of underreporting revenues, leading to the contract's non-renewal. Modi also lost a deal with Fashion TV due to a disagreement. Most of Modi's Mumbai businesses were not profitable, and he relied on an allowance from his father's company.

Later, Modi became the President and managing director of Modi Enterprises, his family's industrial conglomerate. In 2002, Modi started an online lottery business in Kerala called Sixo.

Cricket Administration

In the US, Modi was inspired by the high earnings of American sports leagues. In 1995, he suggested a new 50-over cricket tournament to the BCCI, even registering a name for it - Indian Cricket League Limited. However, the BCCI didn't take the idea seriously. So, Modi decided to join the Board. In 1999, he was elected to the Himachal Pradesh Cricket Association, a part of the BCCI. But his attempt to control the Association failed, and he had to leave due to the Chief Minister's decision. In 2004, Modi became the vice-president of the Punjab Cricket Association under President Inderjit Singh Bindra. He held onto this position in the 2008 elections.

Rajasthan Cricket Association

In 2003, Lalit Modi's friend Vasundhara Raje became the Chief Minister of Rajasthan. They became close through a common friend, Bina Kilachand. After facing setbacks in Himachal Pradesh, Modi aimed to control the Rajasthan Cricket Association (RCA), which had been run by the Rungta family for over 30 years. Modi, along with a group, tried to take over from the Rungtas, who controlled the Association through 66 individual members.

Once Vasundhara Raje became Chief Minister, Modi, using the name "Lalit Kumar," joined the RCA. In 2005, Modi influenced the passing of the Rajasthan Sports Act, removing voting rights from individual members and leaving only the 32 district associations as voters. With this change, Modi was elected as the RCA President, narrowly defeating Kishore Rungta by one vote.

As the RCA President, Modi invested heavily in renovating Jaipur's Sawai Mansingh Stadium, turning it into one of the best cricket stadiums in the country. He also spent money on building a top-notch cricket academy. Modi increased revenue by selling advertising spots on the boundary rope for a higher price, stopped giving away free tickets, and sold corporate box seats for ₹125,000 each.

Board of Control for Cricket in India

After becoming the President of the Rajasthan Cricket Association in 2005, Lalit Modi played a key role in helping Sharad Pawar, a leader of the Nationalist Congress Party, win the BCCI Presidential elections, defeating Jagmohan Dalmiya. As a result, Modi was appointed as the vice-president of the BCCI.

In the years from 2005 to 2008, Lalit Modi played a significant role in the business side of the BCCI. During this time, the BCCI's earnings increased seven times, reaching a whopping $1 billion.

Indian Premier League

In 2008, Lalit Modi played a crucial role in starting the Indian Premier League (IPL), a cricket tournament focused on Twenty20 cricket. He also arranged for the IPL to be held in South Africa in 2009 because the tournament's schedule clashed with the Indian general election, and the Union Minister of Home Affairs couldn't ensure the tournament's security. The IPL became one of the world's most valuable sports leagues, worth over $4 billion. Modi's management of the league led to comparisons with Don King, a boxing promoter, and Bernie Ecclestone, a Formula One promoter.

Notably, Lalit Modi's family and friends benefited from the IPL. His brother-in-law, Suresh Chellaram, owned a majority share in the Rajasthan Royals franchise. His stepdaughter Karima's husband, Gaurav Burman, had a stake in Global Cricket Venture, which secured the digital, mobile, and internet rights for the IPL. Gaurav's brother, Mohit Burman, held a stake in Kings XI Punjab. Jay Mehta, an owner of Kolkata Knight Riders, was a childhood friend of Lalit Modi. The similar pricing of Rajasthan Royals, Kings XI Punjab, and Kolkata Knight Riders raised speculation about Modi possibly sharing insider information with the owners.

Expulsion from BCCI and Exile in London

On April 16, 2010, the Kochi IPL franchise complained to the BCCI that Lalit Modi had pressured them to give up their franchise. The day after the IPL final on April 24, the BCCI suspended Modi on 22 charges, including making decisions without consulting the governing council, not following proper processes, bid rigging, giving contracts to friends, taking kickbacks on a broadcast deal, selling franchises to his family members, and involvement in betting and money laundering. Following his suspension, Modi moved to London, where his wife Minal's family lived.

In London, he hired Carter-Ruck to fight the charges from the BCCI and issued defamation notices of his own. He also focused on expanding his family business in Europe. Modi believed that N Srinivasan, who later became the BCCI President, was behind his removal from the BCCI. In 2012, Modi accused Srinivasan of manipulating the auction of Andrew Flintoff in 2009. He also supported Aditya Verma, the secretary of the Cricket Association of Bihar, in a separate legal battle against Srinivasan.

Lalit Modi defended himself by saying he wasn't solely responsible for the decisions; they were made collectively by the BCCI and its committees. He refused to come back to India, claiming there was a threat to his life. Mumbai Police supported his claim, saying underworld gangsters had threatened him for not paying extortion money. According to the police, hitmen from Dawood Ibrahim and his associate Chhota Shakeel were sent to kill Modi and his family during a vacation in Thailand.

In 2010, Modi accused New Zealand cricketer Chris Cairns of match-fixing on Twitter. In 2012, Cairns sued Modi for making false statements and won $950,000 in damages. In 2013, a BCCI committee, led by BCCI vice-president and BJP leader Arun Jaitley, found Modi guilty on eight charges, leading to his expulsion from the BCCI. Other members of the committee included Congress leader Jyotiraditya Scindia and Chirayu Amin.

Re-Election and Dismissal from RCA

In December 2013, the Rajasthan Cricket Association (RCA) conducted new elections. However, the Supreme Court postponed the results six times due to legal cases filed by Kishore Rungta and the BCCI. On May 6, 2014, Lalit Modi was re-elected as the President of the RCA while he was in London. Right after his election, the BCCI banned the RCA and appointed a temporary body to handle RCA's administrative functions. Lalit Modi took legal action against the BCCI's decision.

In March 2014, Modi claimed that the International Cricket Council (ICC) had evidence of spot-fixing and match-fixing in the Champions League T20 cricket tournament but was not making it public.

On March 9, 2015, a group led by Amin Pathan initiated a vote of no confidence against Lalit Modi, who was then the President of the RCA. According to the Rajasthan State Sports Act, a minimum of 23 attendees was needed to have a valid meeting. Only 23 people attended, and 17 voted against Modi, leading to his removal. Modi's supporters faced obstacles entering the meeting, were attacked, and some were late. As a result, their votes were disputed. Ultimately, Modi was ousted by a controversial 17-1 vote. Pathan denied any involvement in the attack on Modi's supporters, suggesting it might have been staged as an excuse for their expected defeat.

Controversy

• There is no credible evidence or information to support the claim that Lalit Modi was detained for trafficking cocaine, assault, and second-degree kidnapping in the US in 1985.
• In 1993, he faced accusations related to revenue scams at ESPN.
• In 2010, he was accused of revenue scams within the Board of Control for Cricket in India (BCCI).
• Several times, Lalit Modi has been accused of maintaining friendly relations with Vasundhara Raje to gain political and business advantages.
• In January 2023, Lalit Modi posted a threat to former Attorney General Mukul Rohatgi on Instagram, asking him not to label him a fugitive. Rohatgi dismissed the claim as "rubbish" and chose not to comment on it. In the Instagram post, Modi wrote, "As a young fly-by-night lawyer who buys judges, I can buy and sell you a million times." The Instagram post was later removed.

Awards and Recognition

• On April 9, 2006, Mike Atherton described Lalit Modi as possibly the most important cricket administrator globally.
• In March 2008, India Today magazine listed Lalit Modi among India's 30 most powerful individuals.
• In July 2008, Sports Pro featured Lalit Modi on its cover, praising him as the best money-maker for any sports body globally.
• In the same month, Time magazine ranked Lalit Modi 16th among the world's best sports executives.
• On September 25, 2008, the Asia Brand Conference named Lalit Modi 'Brand Builder of the Year.'
• On September 26, 2008, CNBC Awaaz presented Lalit Modi with 'The Consumer Award for Transforming Cricket in India.'
• On October 6, 2008, NDTV Profit honored Lalit Modi as 'The Most Innovative Business Leader in India.'
• On October 24, 2008, the Frost Sullivan Growth Excellence Awards recognized Lalit Modi for 'Excellence in Innovation.'
• In October 2008, Business Week ranked Lalit Modi 19th among the 25 most powerful global sports figures.
• In August 2009, Forbes magazine hailed the IPL as the world's hottest sports league just a year after its launch.
• On December 28, 2009, Business Standard named Lalit Modi one of the 'Game Changers of the Decade.'
• In February 2010, Sports Illustrated ranked Lalit Modi as the 2nd Most Powerful Person in Indian Sports

Net Worth and Car Collection

Lalit Modi is a wealthy businessman from India who has gained a lot of recognition in his career. He was previously a cricket administrator in India and is credited with introducing the idea of the Indian Premier League (IPL), which is now the largest cricket league globally. Currently, he holds the positions of managing director and President at Modi Enterprises. His estimated net worth is approximately $585 million.

Lalit Modi has a collection of very expensive and luxurious cars. Some of the cars in his collection are the Ferrari 488 Pista Spider, Lamborghini Gallardo, McLaren 720S, Rolls Royce Phantom, and Cadillac Escalade.

Conclusion

Lalit Modi is a well-known figure who has made significant contributions to both business and cricket. He founded the IPL, which is now the world's largest cricket league. Despite facing controversies that led him to live in London, his impact on the Indian cricket administration and his achievements as a businessman are impressive.