Sanjiv Goenka credits Jay Shah for the success of IPL; Lalit Modi responds

Chairman of the RP Sanjiv Goenka Group and owner of India Premier League (IPL) franchise Lucknow Super Giants, Sanjiv Goenka took to social media to credit Jay Shah for the success of the cricket league. His post comes after Rajasthan Royals was sold for over Rs 15,000 crore and Royal Challengers Bengaluru was sold for over Rs 16,000 crore in the same week. Referring to those deals, Goenka praised the value of IPL.

However, Lalit Kumar Modi, first chairman and league commissioner of the IPL, who was instrumental to the launch of the league, was having none of it. 

Speaking about the sales of Rajasthan Royals and RCB, Goenka said 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 Jay Shah,” he said. 

Goenka said India’s sports economy has not only crossed $2 billion but also represents a “structural repricing” of the sport. “A shift that was first visible in America, then in Europe, is now happening in Asia. India is at the centre of it. Sport here was once seen as a passion. Today it is being valued the way the best sporting properties in the world are valued,” he added.

Sponsorship for cricket has moved from logo placement to “deep, strategic partnerships”. “Athletes are building equity stakes, not just lending their names. The IPL today is genuinely comparable to the best sporting leagues anywhere in the world, and with each broadcast cycle, the economics only compound further,” said Goenka, adding that the women’s game has also seen a turnaround. The India women’s team winning the maiden Women's ODI World Cup was a turning point, he said. World-class women athletes are being signed and brand interest have also grown, he said.

Now, despite being suspended by BCCI on multiple charges including money-laundering and FEMA contraventions, and fleeing the country, Modi’s name is intrinsically connected to IPL. He responded to Goenka’s tweets: “You serious - you are a clown”.

Many on social media rallied behind him, and stated that despite Jay Shah’s brilliant management of Indian cricket, the credit for IPL should duly go to Modi. 

Meanwhile, Vijay Mallya, the previous owner of RCB said people laughed at him and called the investment a "vanity project" when he brought the franchise in 2008 for Rs 405 crore. "RCB will always remain a part of my DNA with indelible memories including picking the young Virat Kohli who is now amongst the best in the World. To all RCB fans who came on board during my stewardship and beyond, a grateful thank you and please continue to support RCB the Lion of Bengaluru," said the fugitive liquor baron.

Mallya relinquished control of RCB in 2016 due to legal and financial issues.