Former IPL chairman Lalit Modi has fiercely targeted LSG owner Sanjiv Goenka. Goenka had recently credited Jay Shah for the success of the IPL following the billion-dollar sale of Rajasthan Royals and Royal Challengers Bangalore, which had irked Modi.
Former Indian Premier League (IPL) chairman and commissioner Lalit Modi is furious at Lucknow Super Giants (LSG) owner Sanjiv Goenka. The reason is that Goenka completely ignored the role of Lalit Modi in setting up IPL. Recently, two IPL franchises, Rajasthan Royals and Royal Challengers Bangalore, were sold for $1.63 billion and $1.78 billion respectively ahead of the 2026 season.
After the sale of these two franchises, Sanjiv Goenka made a post on the social media platform X (earlier Twitter). In this he mentioned the increasing valuation of the teams and gave the credit for the tremendous commercial growth of the league to former BCCI secretary Jai Shah.
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Both these IPL teams, Rajasthan Royals and Royal Challengers Bangalore, were sold on the same day on March 24. These blockbuster deals show how rapidly the value of the league is increasing across the world. RR was bought by a consortium led by American entrepreneur Kal Somani for over Rs 15,000 crore, while RCB was acquired by an Aditya Birla Group-led consortium for over Rs 15,000 crore.
This was the first time in the history of IPL that two franchises were sold in deals worth billions of dollars on the same day. This reflects the league’s unprecedented economic growth and global appeal.
‘It seems he has lost his memory’
This post of Sanjeev Goenka angered former IPL chairman Lalit Modi. He launched a scathing attack on the LSG owner, accusing him of ignoring his role in forming the league. While quote-retweeting Goenka’s post, Lalit Modi made sharp criticism. He said the LSG owner has ‘zero knowledge’ of how the league started and is ignoring its real architects. Modi praised Goenka’s brother Harsh, calling him a true cricket fan and said he should have been the owner of the franchise.
Lalit Modi wrote, “Really, this guy has lost all memory of who made this model. No problem. He lives in his own world. We all know this. @DrSanjivGoenka is a joker.”
He further wrote, “I wish his brother @hvgoenka was the owner of the IPL franchise. He is a true cricket fan. Not this joker – who thinks his tweet will change history. This just proves he knows nothing. Just crazy. Jai Hind @IPL.”
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Lalit Modi is often considered the starting force of the Indian Premier League. The league was officially launched in 2007 and the first season began in 2008. Modi was the chairman of the IPL from 2005 to 2010, but was later removed from the post by the BCCI amid allegations of misconduct and financial irregularities.
How did the valuation of RCB and RR increase so much?
There has been a huge jump in the valuations of Royal Challengers Bangalore and Rajasthan Royals. The main reason for this is attractive media rights deals and increasing global interest. RCB was first bought by Vijay Mallya’s United Spirits in 2008 for $111.6 million, while Rajasthan Royals was bought by Emerging Media in the same year for $67 million.
Now in 2026, the value of both the franchises has skyrocketed and has crossed the $1.6 billion mark. The reason behind this surge is the media rights of IPL, which were sold for Rs 48,390 crore. Apart from this, earning Rs 500 crore annually from central sponsorship and title rights deals is also a big reason.
RCB’s valuation further increased with their first IPL win last year and second WPL title this year, taking their brand value to $269 million. Additionally, the Virat Kohli effect also played a role in increasing RCB’s brand visibility and marketability across the globe. According to a report, Kohli’s popularity increases the total valuation of the franchise by about $300 million.
On the other hand, RR has also strengthened its global presence by purchasing teams in overseas T20 leagues like the Caribbean Premier League (CPL) and SA20. Due to this global multi-deal package, the valuation of Rajasthan Royals reached almost equal to that of Royal Challengers Bangalore.
Rajasthan Royals and Royal Challengers Bangalore will now enter IPL 2026 as two of the most valuable and commercially powerful franchises in the league.