It’s above my expectations, says Lalit Modi

Did you expect the bids to be so high?
It’s a little bit above my expectations. But people bid for what they bid for. We’re extremely happy with the outcome of the auctions.

Do you think such bids are financially viable?
They must have made their own calculations. The IPL is an ever-growing property and the bids are based on the increasing value of the league.

The sponsors are swelling by the day and the television revenue will increase from next year. So there is every reason for such high bids for these teams.

How long, do you think, will they need to break even?
It’s difficult to say at this stage but I think it should take about 5-6 years.

What do you know about Rendezvous Sports? Do you think they are a robust party?
I understand they are into a range of business ventures.
They are a consortium. Brijesh Venugopal runs a large business in Kerala.

The face of the bid is Vivek Venugopal.

What about Shashi Tharoor’s role?
He’s the mentor of the Kerala bid. He wanted a Kerala team to be part of the IPL.
 
That’s all. He is the guiding force for the Kochi team.