IPL3 undervalued? Shockingly yes, according to Mr. Modi

It is very difficult to decipher whether Lalit Modi means business or he is just obsessing with his baby—the IPL. According to him and some financial analysts, the TV rights for IPL3 have actually been under-valued and marketed at nearly 90% less than its actual worth. This announcement came on top of the fact that in the next few seasons, one IPL team would be worth around $300 million and that is just a conservative estimation, if Mr. Modi is to be believed! What I still cannot fathom is how the IPL is making so much cash considering that I have rarely seen someone truly emphatic about the fate of IPL matches and just cannot recall even person who is a real follower of this league. Do these figures represent any kind of facts whatsoever or is this another one of Modi’s brainwaves to engage some more media attention towards the IPL, may be even at the cause of raising curiosity among folks for no apparent cause?