IPL's former chairman and founder Lalit Modi called Sanjiv Goenka 'a clown after the RPSG Chairman credited Jay Shah for the mammoth IPL deals
Sanjiv Goenka hailed Jay Shah for his good governance during his tenure which prompted business to invest huge sums in the teams
Lalit Modi was suspended from his position in 2010 on allegation of financial irregularities
Sanjiv Goenka Credits Jay Shah For Massive IPL Deals, Miffed Lalit Modi Calls Him A Clown
IPL founder Lalit Modi calls LSG owner 'a clown' on social media after the latter hailed Ex-BCCI President Jay Shah for the breakthrough IPL deals of RR and RCB
Summary
Lucknow Super Giants' owner, Mr. Sanjiv Goenka, praises ex-BCCI President Jay Shah for the record-breaking deals in the Indian Premier League, involving the sale of two franchises - Rajasthan Royals (USD 1.63 billion) and Royal Challengers Bengaluru (USD 1.78 billion).
This miffed the inaugural chairman and architect of the IPL, Lalit Modi, who went on to call the chairperson of the RPSG group 'a clown'.
It all started when after the news of the sale of Rajasthan Royals broke out for a massive INR 16,290 crore followed by another historic one of RCB for INR 16,700 crore, there was a huge buzz over media relating to the deal.
Sanjiv Goenka joined the bandwagon and gave the credit of the such a handsome deal to Jay Shah for his governance of the IPL, which led to the strengthening of the league and fostered confidence in global investors to buy teams at a premium.
Goenka tweeted, “@rajasthanroyals, acquired for roughly ₹270 crore in 2008, have just been sold for over ₹15,000 crore. @RCBTweets, acquired for roughly ₹485 crore, sold for over ₹16,600 crore. Two franchises, same week, each over ₹15,000 crore.”
“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 @JayShah,” he further added.
Lalit Modi's Scathing Reply
Lalit Modi - who is known as the father of IPL got triggered by the tweet and went on to call Goenka 'a clown'. He doubled down on the LSG owner and ridiculed his knowledge about the league.
“Seriously this guy really has a memory loss of who conceived the model. Thats ok. He just lives in his own world. We all know that @DrSanjivGoenka is a clown (emoji) wish it was his brother @hvgoenka who owned the ipl franchise. He is a true cricket fan. Not this clown who thinks his tweet will change history. Just proves he has zero knowledge. Just swelled up head.”
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Lalit Modi was the founder and first chairman of the IPL and was given several accolades for bringing the league to life. However, he was suspended in 2010 from his post due to financial irregularities after which he went to London.
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