When Indian Premier League’s (IPL) former commissioner Lalit Modi had first told Manoj Badale that he was looking to raise $100 million from the franchise auction of a cricket league that no one had yet heard of, Badale had a good laugh. Born in India and brought up in England, he was a founding partner of venture builders Blenheim Chalcot, and had an inherent love for cricket— earlier, along with co-founder Charles Mindenhall he had built a company to acquire the commercial rights to run English county Leicestershire. While that faced a few hitches, Badale turned his focus to investing in the game in the sub-continent.
But would Modi’s league live up to his lofty ambitions? Thirteen years on, the answer is a no-brainer (even as IPL’s architect has since been banned for life over financial irregularities and is in exile in London). From its initial TV rights of $1 billion, forked out by Sony Sports for a period of 10 years, IPL broadcast rights now command a whopping $2.5 billion for five years (acquired by Star Sports in 2018).
What makes IPL, one of the few profitable sporting leagues in the world, such an attractive proposition? Badale, the lead owner of the franchise Rajasthan Royals (RR), explores in a book, A New Innings, co-authored with acclaimed cricket journalist Simon Hughes. Initially meant to document the “roller-coaster ride of the Rajasthan Royals”, the book evolved into a discussion on the business and future of cricket. “And then it was completely unreadable,” says Badale, “at which point Simon, a very old friend, decided to jump in.”
هذه القصة مأخوذة من طبعة January 01, 2021 من Forbes India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة January 01, 2021 من Forbes India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
