David Rosenthal: belief

Transcript context

…Could be. Is that the thing that means you tear up the contract, or do you call them and say, hey, we know you’re doing this. Please don’t do that anymore. I suspect that had the IPL not been such a huge success and Lalit were not looking to tear up the contract, he would not have caught these discrepancies, shall we say. And of course it’s not until the end of the season that he points all this out. On the back of this, he strongarms Sony and World Sports Group into renegotiating a new deal that is going to be direct with Sony. They throw World Sports Group a bit of a bone. I think maybe they let them keep the international rights, but Sony is now going to directly do a 10 year deal with the IPL for $2.4 billion, so $240 million a year. Quite a bit more than the $60 million that they had paid for year one. So that’s 4x the actual cash out per year and it’s 2.4x what the theoretical value of the contract was going to be on an annual basis.…

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