Former IPL chairman Lalit Modi has launched a full-on attack on Lucknow Super Giants (LSG) owner Sanjiv Goenka after the billionaire did not fully acknowledge his role in the rise in the valuation of IPL franchises. The statement by Lalit Modi came shortly after two billion-dollar valuation acquisitions in the IPL, first concerning the Rajasthan Royals (RR) and second with the Royal Challengers Bengaluru (RCB).
RCB were sold for $1.78 billion to a consortium of buyers comprising Aditya Birla Group, Blackstone, the Times of India Group, and Bolt Ventures. Meanwhile, RR was acquired by US-based entrepreneur and existing investor Kal Somani at a valuation of $1.63 billion.
While celebrating the milestones in a post on X, Goenka lauded the “architecture of IPL” and the vision of former BCCI secretary and current ICC Chairman Jay Shah, but made no mention of Modi.
“@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,” Goenka wrote in a post on X.
“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 added.
Lalit Modi calls Sanjiv Goenka ‘clown’
In response to that post, Modi called Goenka a “clown” and claimed he was suffering from “memory loss” on who conceived the IPL model.
“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 🤡 [sic].”
He added, “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 🤯[sic].”
The latest season of IPL 2026 is set to begin from 28 March with the incumbent champions RCB taking on Sunrisers Hyderabad (SRH) at the M Chinnaswamy Stadium, Bengaluru. The first phase of the marquee tournament’s schedule has already been announced, with the rest is likely to be announced soon.
Netizens react to Lalit Modi’s scathing attack
“You’re a star Lalit Ji. Wish you hadn’t left India and gave more to this country. Unfortunately, politics as usual took the toll [sic],” wrote one user in response to the post.
“All credit must go to one and only @LalitKModi for such revenue but this is not benefiting country except few businessman, and they’re not paying taxes as well [sic],” added another user.
“In a million years they could not have come up with your vision of sports and IPL specifically [sic],” yet another user added.
