IPL 2026: Lalit Modi slams LSG owner Sanjiv Goenka for Jay Shah Credit, labels him 'Clown with Zero Knowledge'

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In a sharp exchange on social media, former IPL chairman and league founder Lalit Modi hit back at Lucknow Super Giants (LSG) owner Sanjiv Goenka for crediting BCCI's former secretary Jay Shah with the massive valuation surge of IPL franchises.

The row erupted after Rajasthan Royals (RR) and Royal Challengers Bengaluru (RCB) fetched record prices in separate deals this week.

Goenka highlighted the extraordinary growth on X (formerly Twitter), noting that RR, bought for roughly ₹270 crore in 2008, was sold for over ₹15,000 crore. RCB, acquired for about ₹485 crore, changed hands for over ₹16,600 crore.

"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 Jay Shah," Goenka posted, praising the league's evolution under later BCCI leadership.

Lalit Modi labels Sanjiv Goenka as 'Clown'

Modi, who conceived and launched the IPL in 2008 before his exile amid controversies, dismissed the claim outright. In a fiery reply, he accused Goenka of "memory loss" about the league's origins.

"Seriously this guy really has a memory loss of who conceived the model. That's ok. He just lives in his own world," Modi wrote.

He added that he wished Goenka's brother, Harsh Goenka, owned an IPL franchise instead, calling him a "true cricket fan" unlike Sanjiv, whom he labeled a "clown" with "swelled up head" and "zero knowledge" who cannot "change history."

The spat has reignited debates over credit for the IPL's phenomenal success. Launched as a city-based T20 league, the IPL transformed cricket into a multi-billion-dollar entertainment empire. Early franchise bids were modest, RR was among the cheapest at around $67 million (roughly ₹270 crore at the time).

Nearly two decades later, valuations have skyrocketed, driven by massive media rights deals, global sponsorships, and strong governance that attracted premium investors. Jay Shah, who served as BCCI secretary and later became ICC chairman, played a key role in negotiating landmark broadcast and digital rights agreements, including the record ₹48,390 crore media rights cycle for 2023-27.

The timing of the controversy adds fuel, as the 2026 IPL season is set to kick off on March 28, with defending champions RCB facing Sunrisers Hyderabad. The sales reflect booming investor confidence in the league, now valued collectively in tens of billions.