In a groundbreaking development set to redefine cricket’s landscape, Lalit Modi, the visionary behind the Indian Premier League (IPL), has welcomed the tantalizing prospects that accompany a reported $5 billion investment by Saudi Arabia into the IPL.
The infusion of such colossal financial backing could elevate the league’s valuation to an unprecedented $30 billion, transforming it into a potential holding company, according to reports.
The proposed investment has emerged from Saudi Arabia’s Crown Prince Mohammed bin Salman’s advisors, who have reportedly engaged in discussions with officials from both the Indian government and the IPL.
Lalit Modi, expressing enthusiasm for this potential alliance, contemplates the staggering implications of such a monumental investment and how it might revolutionize cricket.
Speaking of the extensive possibilities, Modi envisions a dramatic shift in the IPL’s format. He suggested the league could adopt a football-style format, accommodating up to 20 teams to compete throughout the year.
Moreover, Modi emphasized his belief that the One Day International (ODI) format has become obsolete, advocating for its removal.
He proposed reducing Test matches from the traditional five-day format to four days, promoting the idea of day/night Tests to align with modern time constraints.
“I see 50-over (ODIs) going completely. I see no relevance to it. There’s only relevance to the Test. A four-day Test, not even a five-day Test – a day/night Test because people don’t have the luxury from morning to evening,”Modi expressed in a statement to RevSportz.
Modi’s innovative thoughts didn’t stop there. He further discussed the potential development of a secondary league operating with a distinct ownership structure.
He proposed a system where teams could ascend or descend in ranking, fostering extreme competitiveness and player value.
While Modi acknowledged not being in direct contact with the BCCI for over 15 years, he expressed his willingness to entertain a potential partnership with Saudi Arabia, citing a format similar to the IPL’s initial stages where teams were valued at $50 to $100 million.
The IPL’s exponential growth, as reported by D&P India Advisory Services, has showcased an impressive surge in value, escalating from Rs 87,000 crore to Rs 92,500 crore, marking a notable 6.3% increase.
The addition of two new franchises two years ago has also significantly contributed to the league’s soaring viewership.
As cricket enthusiasts eagerly await further developments, the potential influx of such significant investments could herald a new era for the sport, transforming the IPL into an international powerhouse like never before.