The so-called Rs 17,637 crore valuation of Royal Challengers Bengaluru (RCB), reported by former IPL commissioner Lalit Modi has been described as unrealistic. He emphasized that the franchise is much more valuable and advised against the premature sale of the franchise by its owners.

Lalit Modi on RCB’s Market Value

In an interview with Beyond 23 Podcast, former Australian skipper Michael Clarke, Modi proposed that the present valuation of RCB was approximately two billion dollars. He stressed that the financial position of the team will steadily grow in the next years.

According to him, the IPL ecosystem is still young. “We (IPL) are only 18 years old. We have just started the fan following, we have just started the frenzy,” said Modi, highlighting the sport’s rising global appeal.

The stampede on the outskirts of M Chinnaswamy Stadium in Bengaluru was another issue that IPL founder touched upon as a very tragic incident that happened during the celebrations of RCB victory. He has explained that it was a sad side effect of the exceeding fame of the team.

RCB Sale Would Be a ‘Stupid’ Decision

Lalit Modi did not hold back when questioned as to whether RCB was likely to be sold. According to him, selling the franchise at the valuation that is being reported would be colossal misjudgment by the ownership group.

“If RCB does want to sell, they would be stupid to sell it for less than 2 billion dollars. If it is next year, then 2.5 billion, and if two years later, it would be 3 billion, and if it is four years later, then four billion dollars, take it in writing from me,” he said.

Modi feels that the value of the team in the market would grow by at least half a billion dollars annually, which represents the interest of the fans as well as the demand of IPL cricket all over the world.

Stampede at M Chinnaswamy Stadium

The incident took place on June 4, when close to three lakh fans came out in the front of Bengaluru M Chinnaswamy Stadium to mark the maiden IPL victory of RCB. The huge attendance culminated in a stampede that claimed 11 lives and hurt over 50 others.

Subsequently, the Central Administrative Tribunal (CAT) commented that RCB was partially responsible of the huge crowd. It indicated that the franchise had attracted three to five lakh people in the stadium area.

RCB’s Emotional Message to Fans

In the wake of the incident, RCB came out with a note on X, which was heartfelt as it touched on the silence that had ensued the celebrations. “The Silence wasn’t Absence. It was Grief. This space was once filled with energy, memories and moments that you enjoyed the most… But June 4th changed everything,” the post read.

The group promised spectators that their sorrow was becoming mass action. “It grew out of a need to honour, to heal, and to stand beside our fans. A platform for meaningful action shaped by our community & fans,” RCB wrote.

These words were a promise by the franchise to proceed with the care and compassion and reminded supporters that they are still the pride of Karnataka despite the tragedy.

The post RCB Valuation Sparks Controversy: Lalit Modi Slams Rs 17,637 Crore Claim as ‘Stupid’ appeared first on NewsX.