Former Indian Premier League (IPL) chairman Lalit Modi has levelled fresh allegations against Congress MP Shashi Tharoor, claiming the senior politician once warned him against raising questions about Sunanda Pushkar’s involvement in the Kochi IPL franchise controversy.
Speaking to ANI, Modi alleged that Tharoor called him during the process of finalising the Kochi franchise deal and urged him not to scrutinise Pushkar’s role. According to Modi, the disagreement centred on what he described as an irregular equity structure within the consortium that had won the franchise bid.
The claims revisit one of the most contentious episodes in IPL history, a controversy that eventually led to intense political scrutiny, the collapse of the Kochi franchise, and Tharoor’s resignation as Minister of State for External Affairs in 2010.
Recalling the alleged conversation, Modi claimed Tharoor sought to dissuade him from pursuing questions about Pushkar’s stake in the consortium.
He further alleged that Tharoor warned him of government action if he continued probing the matter.
Modi said he rejected the warning and refused to approve the agreement without greater clarity on the ownership structure.
“I get a call from Shashi Tharoor on the phone. He says, ‘Lalit, don’t ask about Sunanda Pushkar. She is a good friend of mine. I asked why, and he said, If you do, I’ll have you raided in the morning. I said, ‘Screw you. Who the hell do you think you are? You may be the Foreign Minister of India, but don’t you dare ever tell me this.’ I slammed the phone and said I would not sign,” Modi told ANI.
Lalit Modi questions equity structure in Kochi consortium
According to Modi, concerns first emerged when he examined the financial arrangement behind the Kochi franchise bid, which had secured an IPL team with a reported bid of $350 million.
He alleged that a section of shareholders was funding the project while another beneficiary was receiving a substantial equity stake without making a corresponding financial contribution.
“All the shareholders were there except for the lady, Sunanda Pushkar. You’re giving away 25% shares to a lady called Sunanda Pushkar. Who is she? You’re giving up 15% of the revenue. Who is she?” Modi said he repeatedly questioned consortium members about the shareholding arrangement, particularly Pushkar’s reported stake and the rationale behind it.
He argued that the structure made little commercial sense, claiming it placed the financial burden on a section of investors while allowing another stakeholder to benefit disproportionately. According to Modi, such an arrangement was bound to create problems for the franchise in the long run.
Claims of late-night standoff over franchise agreement
Modi also claimed the dispute escalated during a late-night meeting in Bengaluru, where he refused to sign the franchise agreement until the identities of all stakeholders were disclosed.
He said he was unfamiliar with Pushkar at the time and sought details about her background and role within the consortium.
Modi further alleged that despite his reservations, he had supported Kochi’s entry into the IPL bidding process even though Kerala did not have a stadium capable of hosting the team at the time.
“He’d come to my house. He was a smooth talker without doubt. I fell for it,” Modi said while referring to Tharoor.
Kochi franchise lasted just one IPL season
The Kochi franchise became one of the shortest-lived teams in IPL history. The team, owned by KCPL and RSW, participated in only the 2011 season and finished eighth among ten teams.
The Board of Control for Cricket in India (BCCI) terminated the franchise in 2011 following disputes involving contractual obligations.
The controversy had also triggered a political storm in 2010, leading to Tharoor’s resignation from the Union Council of Ministers after questions were raised over the franchise’s ownership structure and Pushkar’s reported stake.