When the Indian Premier League was launched in 2008, the tournament reshaped cricket's commercial and competitive landscape.
That impact has been underlined this week with the sales of two IPL teams, Royal Challengers Bengaluru and Rajasthan Royals, attracting eye-watering prices of $1.78 billion and $1.63 billion respectively, highlighting the tournament's reputation as the most powerful T20 league in the world.
However, the idea of an ‘IPL-styled' tournament was born much before the league, or even for that matter the format itself.
A Vision Ahead Of Its Time
According to former India cricketer and ex-BCCI selector Saba Karim, Lalit Modi had conceptualised a franchise-based T20 competition as early as 1997-98, nearly six years before T20 cricket even formally existed.
At the time, international cricket revolved around Tests and ODIs. The first recognised T20 match would only be played in 2003, with international cricket adopting the format even later. Yet, Modi's proposal to the BCCI outlined a structure strikingly similar to what would become the IPL.
ALSO READ | Illegal Fantasy Gaming Booms Ahead Of IPL 2026 After India's PROGA Ban
"Many people don't know that Mr Lalit Modi came up with the T20 franchise cricket concept in 1997-98. Long before the IPL actually started, he submitted a proposal to the BCCI suggesting the creation of a league like it. There was no concept of T20s back then, it was primarily ODIs," former India player and ex-BCCI selector Saba Karim revealed when speaking on Doordarshan Sports.
Karim revealed that the concept included city-based teams and even provisions for overseas players, which has now become a fundamental cornerstone of franchise leagues worldwide. There were even early attempts to get the ball rolling, as Saba mentions that contracts were signed with a few players to have a Bengal-based team, but they ultimately “did not materialise.”
"We were going to make a team for Bengal. We had even signed a contract with them. It was decided that there would be two to three players from outside in each team," Karim recalled. "It did not materialise due to various reasons. But it remained in our minds that we should have a league like this."
The turning point came only a decade later, as India's victory in the inaugural ICC World T20 in 2007 prompted a shift in the BCCI's stance, who had initially been cautious about T20 cricket.
Billion-Dollar Validation
In 2008, the IPL was officially launched, with Modi at the helm as its founding chairman and commissioner. What followed was a rapid takeover of the cricketing landscape.
Lalit Modi's tenure ended abruptly in 2010 amid corruption allegations, leading to his removal from cricket administration. Yet, the structural blueprint he introduced has grown to dizzying heights.
The IPL's financial rise was underscored this week as RCB was acquired by a consortium led by the Aditya Birla Group in a deal worth $1.78 billion (over Rs 16,000 crore). Rajasthan Royals, meanwhile, changed hands at a reported valuation of $1.63 billion.
Such numbers would have seemed implausible when the league began in 2008, but they closely mirror the scale of ambition embedded in Modi's original vision.
ALSO READ | IPL 2026: Australia's Marcus Stoinis, Cooper Connolly Join Punjab Kings Squad In Mohali
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
