Ahmedabad Franchise In IPL 2022 Under Trouble, BCCI Yet To Release Letter Of Intent To CVC Capital- Reports

The media rights tender of the IPL has been delayed which should have been done immediately after the appointment of two new teams and now the Ahmedabad franchise in IPL 2022 is under trouble. The two new franchises in Lucknow and Ahmedabad were announced as the winners of the bidding a month back.

The tender is expected to fetch over Rs 30,000 crore and there have been several reasons that are anticipated for the delay in releasing tender. One of the important reasons would be the involvement of CVC Capitals with the betting and BCCI is yet to issue a letter of intent to them.

Dilemma Between E-Auction Or Closed Bidding

Another reason that is expected behind the delay in releasing the tender has been the dilemma between E-Auction or Closed Bidding as the process. Closed Bidding had left a party spending a lot of money on owning a franchise, and in the recent bidding process, RPSG Group of Sanjiv Goenka, which had placed a whopping Rs 7090 crore bid to stay clear of any potential competitors to win the Lucknow franchise recently was close to Rs 1500 crore more than the second-highest bid.

In the case of E-auction, the potential bidders – Star, Sony-Zee and an upcoming channel from Jio will come into play and there might be equal competition among the bidders. The highest bid could only be marginally higher than the closest competitor and that is one of the advantages of E-Auction.

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BCCI’S Earlier Announcement on IPL Media Rights Tender

BCCI had earlier stated two months back that the media rights tender would be released immediately with the appointment of two new teams. The CVC Capitals are now in trouble as BCCI is yet to release a letter of intent.

“The IPL Media Rights tender for the cycle 2023-2027 will be released immediately after the appointment of two new IPL teams which is scheduled to be announced on 25th October 2021,” the BCCI had said in a media release on September 28.

There have been recent updates that the IPL media rights tender could take time to be released.

Also Read – IPL 2022: Lucknow Franchise Approaches Ashish Nehra, Gary Kirsten For Coaching Roles – Reports

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