Indian Premier League would generate a revenue of $1 billion this season, thanks to huge fan following across the globe, attracting a large number of advertisers, its Commissioner Lalit Modi [ Images ] said on Wednesday. "The tournament is still on and we have not reached the final number. Yes, it will be more than $1 billion (about Rs 4,700 crore) this season. Last season we did $450 million. "Thereafter, we would double every year," Modi told PTI and asserted that as long as the fans keep coming to IPL, the league's brand value would increase and hence the revenue. Revenue for Sony, the official broadcaster, alone would be about Rs 700-800 crore (Rs 7-8 billion), he said, brushing aside the criticism that the advertising rates for the IPL's third season were very high. "There may be some advertisers who feel that way but there are lot many others who are willing to join us," he said pointing out that the huge success of the tournament in terms ...