Financially, IPL still remains a big property and BCCI certainly isn't curtailing its expenses.
A former CEO of an IPL franchisee says that Modi landed in trouble because he got bigger than the game.
"He felt he was above everything and got too much power, which certainly didn't go down too well with BCCI."
Adds Cherian: "He [Modi] had a kind of vaulting ambition which was probably not visibly expressed by people in cricket associations before him. He represented an inflection point, to think mega, as opposed to big."
Those who know Modi say that, at the moment, all his energies will be focused on sorting out the mess. But at the back of his mind, ideas will be germinating.
"He's too creative a mind for that not to happen," says Cherian.
For Indian cricket, the Modi chapter might not be over yet.