The business of… the IPL scandal
The Indian Premier League was set up in 2008, and is now worth a cool $4 billion. But its fate is in the balance following recent allegations of corruption, fraud, and match-fixing.
May 2, 2010 12:23 by Katherine Azmeh
Suspended IPL chairman Lalit Modi has been compared to the biggest mavericks in sport worldwide, with the BBC calling him “cricket’s answer to Don King of boxing or Bernie Ecclestone of Formula One.”
Modi is by no means a newcomer to the business of sport. He reportedly helped ESPN break the Indian state monopoly on broadcasting cricket matches in the country, and is credited with shaping the multi-billion dollar IPL league into a vibrant success story. Modi stood at the center of this $4 billion business, and “decided almost anything and everything that happened within the IPL,” according to the BBC.
But now Modi has been accused of money laundering and match-fixing – two of the more damaging charges against the man at the center of the scandal. Modi denies the allegations, claiming that he is “on trial by the media”, and insisting that “nothing has been proved.”
More on Cover Story
-
Gold iPad at Burj Al Arab
-
Qatar’s Leverage Over Banks Is On The Wane
-
Arabtec Says Workers End Strike
-
First report by Etisalat covering global footprint
-
Yahoo on Tumblr: ‘we promise not to screw it up’
-
Arabtec workers: strike will continue
-
Kuwait: expats sent packing
-
Minimum wage ‘unfair’ for employers?
-
Dubai Labourers on ‘rare’ labour protest
-
Tumblr officially off the market
-
Saudi government websites targeted
-
A major step for Turkey
-
Dusting off the Emirates ID card
-
Taking on Abercrombie & Fitch
-
Air Berlin doesn’t need Etihad’s help
-
Airbus officially picked by Kuwait Airways
-
Turkey’s IMF emancipation deserves cautious cheer
-
Nokia charging back with full force
-
Turkish Airlines faces strike
-
LinkedIn won’t tolerate ‘unlawful’ activities
