"I would remove the IPL from under the BCCI and put it in the hands of a separate company," Modi said.
The controversial former IPL commissioner, who has been living in exile after being slapped with a life ban, was on Tuesday elected President of the Rajasthan Cricket Association, prompting a livid BCCI to suspend the RCA.
"They can have the ownership, let them earn the revenue but allow autonomy to the independent company. Bring in professionals that have nothing else but to run the IPL," Modi was quoted as saying by 'ESPNcricinfo'.
"The league's board would have franchise owners on it. And the company would then send in an annual report to the BCCI. That is how it should be. The owners need to have a big say in it. You cannot have a system that keeps changing rules like retention to suit one's own needs," he said.
Modi predictably swept the RCA polls, winning by an emphatic 24-5 margin after the Supreme Court cleared the decks for the announcement of the election results, more than four months after the acrimonious polls.