Is Lalit Modi set to return to IPL?:Ex-Indian Premier League commissioner in race to buy Rajasthan Royals

Lalit Modi, the founder of the Indian Premier League (IPL), might return to the tournament. According to Dainik Bhaskar sources, he is in the race to acquire the Rajasthan Royals. A meeting regarding the potential sale of the Rajasthan Royals is scheduled for 16 March in London. The deal’s value could reach around ₹12,000 crore. Four companies interested in buying RR According to sources, four different companies are showing interest in buying the team. Among them, Lalit Modi might bid in partnership with a US-based company. Additionally, the Aditya Birla Group and a US company consortium, the Glazer family associated with Manchester United, and another US investment company are also in the race. It is understood that the first round of talks has already taken place with all these potential buyers. The meeting on March 16 is considered the final round of discussions, where a major decision regarding the deal could be made. Emerging Media Ventures holds the largest share Currently, Emerging Media Ventures holds the largest stake in Rajasthan Royals, owned by Manoj Badale. They own approximately 65% of the shares. Additionally, RedBird Capital holds about 15% and Lachlan Murdoch holds 13% stake. Who is Lalit Modi and why did he flee from India? Lalit Modi was the president of the Rajasthan Cricket Association (RSCA) from 2005 to 2009. In 2008, he started the IPL, and the BCCI made him the Chairman and Commissioner of IPL. In 2010, Lalit Modi was accused of corruption in the IPL. The allegation was that he awarded a contract worth ₹425 crore related to IPL media rights to the Mauritian company World Sports Group, and was also accused of taking ₹125 crore as commission in it. Additionally, allegations of irregularities were also made during the auction of two new teams. Suspended in the third season of IPL In 2010, immediately after the final of the third season of IPL, the BCCI suspended him. The same year, citing threats from the underworld, Lalit Modi left India and moved to London. Later, the Enforcement Directorate (ED) issued a Blue Corner Notice against him and his passport was also cancelled. In 2011, the BCCI formed an investigation committee chaired by Arun Jaitley. The then Congress MP Jyotiraditya Scindia and the then BCCI President N. Srinivasan were its members. Money laundering cases ongoing In 2012, Lalit Modi claimed that he had helped Srinivasan bring England all-rounder Andrew Flintoff into the Chennai Super Kings (CSK) team in the 2009 IPL. Since then, Lalit Modi has been living in London. Cases of manipulation in player bidding in IPL, money laundering, and violation of the Foreign Exchange Management Act (FEMA) are ongoing against him. Subsequently, in 2022, news of actress Sushmita Sen and Lalit’s relationship became public, but they are no longer together. In July 2022, Lalit Modi had called Sushmita his better half, but later, news of their breakup emerged. Sushmita had described this relationship as just an ‘experience’. Aryaman Birla also interested According to several media reports, Aryaman Birla, son of Aditya Birla Group Chairman Kumar Mangalam Birla, is also preparing to acquire a stake in Rajasthan Royals. For this, the Aditya Birla Group is in talks with American sports investor David Blitzer to form a consortium. 28-year-old Aryaman Birla is a former first-class cricketer. He played the Ranji Trophy for Madhya Pradesh and scored 414 runs in 16 innings, including one century. In the 2018 IPL auction, Rajasthan Royals bought him for 30 lakh rupees, but he didn’t get many opportunities, and in 2019, he took an indefinite break from cricket. After stepping away from cricket, Aryaman Birla became active in business. He launched Aditya Birla Group’s hospitality and venture capital ventures and joined the group’s top decision-making body in 2023. He is also associated with the boards of companies like Hindalco Industries, Grasim Industries, and Aditya Birla Fashion Retail.