Lalit Modi Critiques LSG Owner Over IPL Growth Acknowledgment

In a recent exchange, Lalit Modi, the former IPL chairman, criticized Sanjiv Goenka, owner of Lucknow Super Giants, for failing to acknowledge his role in the league's establishment. This dispute arose following the record sales of Rajasthan Royals and Royal Challengers Bengaluru, which highlighted the IPL's soaring valuations. Modi's sharp remarks emphasized Goenka's lack of understanding of the league's origins, while also praising Goenka's brother as a more genuine cricket fan. As the IPL prepares for its 2026 season, both franchises are now among the most valuable in the league, showcasing the remarkable financial growth of the IPL.

By Narendra Chaudhary Mar 26, 2026, 12:03 IST

Modi's Response to Goenka's Comments

Lalit Modi, the former chairman and commissioner of the Indian Premier League (IPL), recently criticized Sanjiv Goenka, the owner of Lucknow Super Giants (LSG), for neglecting to recognize his contributions to the league's development. This comes in light of the recent sales of two IPL franchises, Rajasthan Royals and Royal Challengers Bengaluru, which fetched $1.63 billion and $1.78 billion, respectively, ahead of the 2026 season.

Franchise Sales Highlight IPL's Valuation Surge

After the sale of the franchises, which have been part of the IPL since its inception in 2008, Goenka took to social media to emphasize the increase in franchise valuations, attributing this growth to former BCCI secretary Jay Shah's efforts in enhancing the league's structure and commercial appeal.

1. Rajasthan Royals: Acquired for approximately ₹270 crore in 2008, now sold for over ₹15,000 crore.

2. Royal Challengers Bengaluru: Initially purchased for around ₹485 crore, now valued at over ₹16,600 crore.

Both franchises were sold on March 24, marking a historic moment as it was the first time two franchises changed ownership on the same day in billion-dollar transactions, showcasing the IPL's remarkable financial expansion and international allure.

Lalit Modi's Sharp Critique

Goenka's remarks incited a strong reaction from Lalit Modi, who accused him of forgetting the league's origins. In a quote-retweet, Modi expressed his disdain, claiming that Goenka lacked understanding of the league's foundation and praised Goenka's brother, Harsh, as a more genuine cricket enthusiast.

Modi stated, "This guy really has a memory loss regarding who conceived the model. He lives in his own world. @DrSanjivGoenka is a clown." He further expressed a wish that Harsh Goenka owned the franchise instead, emphasizing his true passion for cricket.

Lalit Modi's Legacy in IPL

Lalit Modi is often recognized as a pivotal figure in establishing the Indian Premier League, which launched in 2007, with the first season commencing in 2008. He served as the IPL's chairperson from 2005 until 2010, when he was removed amid allegations of misconduct and financial discrepancies.

Valuation Growth of RCB and RR

The Royal Challengers Bengaluru and Rajasthan Royals have seen significant increases in their valuations, primarily due to lucrative media rights agreements and a growing global fanbase. RCB was initially bought by Vijay Mallya's United Spirits for $111.6 million in 2008, while the Rajasthan Royals were acquired for $67 million.

As of 2026, both franchises have surpassed a valuation of $1.6 billion, driven by the IPL's media rights, which were sold for an astounding INR 48,390 crore, along with annual revenues of INR 500 crore from sponsorship deals.

RCB's valuation was further enhanced by their first IPL championship last year and a second WPL title this year, boosting their brand value to $269 million. The influence of star player Virat Kohli is also significant, with estimates suggesting his popularity could add up to $300 million to the franchise's overall worth.

In contrast, the Rajasthan Royals have expanded their global footprint through investments in overseas T20 leagues, including teams in the Caribbean Premier League (CPL) and SA20, which has bolstered their international presence.

Looking Ahead

As IPL 2026 approaches, both Rajasthan Royals and Royal Challengers Bengaluru are set to enter the season as two of the league's most valuable and commercially robust franchises.