American Money Has Discovered Indian Cricket

I.P.L. matches draw domestic TV audiences of more than 200 million. Lalit Modi sold his eight teams for a combined $723 million to Mukesh Ambani and Shah Rukh Khan. The second season had to be moved to South Africa for security reasons. Three teams were terminated after financial difficulties and two others received multi-year suspensions. Supreme Court intervened and tightened governance rules. A $2.5 billion broadcast rights agreement for the 2017 to 2022 seasons was signed. CVC Capital Partners had a presence in India but had not been involved in cricket.