IPL: 5th Largest Global Sports Brand

IPL is 5th largest brand, above Wimbledon, F1: Lalit Modi

Published on Tue, Aug 18, 2009 at 21:32 , Updated at Tue, Aug 18, 2009 at 22:53
Source : CNBC-TV18

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Lalit Modi's brain-child, the Indian Premier League, took the cricketing world by storm. But Modi is not ready to rest on his laurels. Commenting on how much the brand was worth, Lalit Modi, its Chairman and Commissioner, says, according to recent numbers, the IPL brand alone stands at USD 1.65 billon. "It is now the fifth largest brand in the world of sports in two years of operation, just below FIFA and higher than Wimbledon and F1." The IPL has actually become the number one cricketing property in the world and is only growing, he added. He aims to beat the National Football League (NFL), which stands at USD 4.5 billion, in the next four-five years. Here is a transcript of the exclusive interview with Lalit Modi on CNBC-TV18. Also watch the accompanying video. Q: How much is the IPL worth now? A: There are different numbers being put by different analysts. The latest number that we have got from a credible source, a sports media research agency in theUS, has valued the IPL brand alone at USD 1.65 billon, which is now the fifth largest brand in the world of sports in two years of operation, just below FIFA and higher than Wimbledon and F1. But I think that the valuation is in line. I think the brand worth and the only way is northwards because we have 1 billion alone in India, plus another half a billion to 600 million around the world who love the game of cricket. The IPL has actually become the number one cricketing property in the world and it is only growing. Q: So, a third successful year and you are going to go northwards of USD 1.65 billion, aren’t you? A: The target is to beat the NFL, which is at USD 4.5 billion. Q: How long do you give yourself to do that? A: I think in another four-five years we should beat them. Q: You will do it earlier, there are more Indians? A: Cricket is growing phenomenally globally. We just need to ensure that we build on different markets. We had a 680% increase in viewership in South Africa. We need to ensure we do that in England, start to do that with the American audiences. American audience is more difficult. So, we have got to first target the subcontinent people living in America and Commonwealth people living inAmerica. So, go after them and make them tune in and just grow it. Q: Any talk of taking the IPL public? A: No. No talks as yet. There have been a lot of murmurs. That was one of the plans we had looked at when we initially conceptualised it. We don’t need the money. I think the Board of Control for Cricket in India (BCCI) needs are all fully taken care of. So, the money will go back to the BCCI, which will go back into the system as the IPL is a non-profit organisation. Q: Does it worry you somewhat that the IPL was: let’s not kid around, your brainchild? All of you guys in this avatar at the BCCI have made a huge success of it. But a few cricket body elections and all of you could be out on your backsides. Does that worry you? Is that a basis on which to build a USD 1.65 billion business? A: It should be an USD 8-10 billion business. We shouldn’t be worried about that. There will be somebody else to take it onward. Q: Do you really believe that? A: Absolutely! Because you cannot assume and we shouldn’t assume that we will be there for life.