The Board of Control for Cricket in India (BCCI) is expecting the two new Indian Premier League (IPL) franchises to go for Rs 7000 crore to Rs 10,000 crore each with the involvement of big business entities in the bidding, which will commence on Monday, October 25.
22 business entities have picked up tender documents worth Rs 10 lakh. The base price set for each of the two new teams is INR 2000 crore [US$ 267 million approx.]. Also, one requirement has been listed in the tender document that bidders must show a turnover of at least INR 3000 crore [US$ 400 million approx.] for the previous three years, and If it is a consortium, it needs to show a turnover of at least INR 2500 crore [US$ 334 million approx.] for last three years.
Also, the two new teams which will join the Indian Premier League (IPL) 2022 auction will have to be among the six Indian cities listed in the tender document by the Board of Control for Cricket in India (BCCI). The cities are Ahmedabad, Cuttack, Dharamsala, Guwahati, Indore and Lucknow.
Gautam Adani And Sanjiv Goenka Will Be Serious Bidders
One of India’s richest business tycoons, Gautam Adani and his Adani Group, are expected to bid for the Ahmedabad franchise. If they bid, they are expected to get the ownership.
Also, RP-Sanjiv Goenka Group, who were the owners of Rising Pune Supergiants for two years, will be attempting to buy the IPL franchise once again. Meanwhile, RP-Sanjiv Goenka Group also owns a team in the Indian Super League (ISL) ATK Mohun Bagan and a table tennis league team RPSG Mavericks.
“Gautam Adani and Sanjiv Goenka are the biggest names in the Indian industry. They will be serious bidders. Expect a minimum bid of INR 3500 crore from the potential bidders. Don’t forget that IPL broadcast rights are projected around USD 5 billion (Rs 36,000 Crore).
“So the economics will work accordingly as franchises get the TV revenue share equally,” a BCCI insider tracking the developments told PTI on conditions of anonymity.
The other big names bidding for the franchises are Torrent Pharma, Aurobindo Pharma, and Hindustan Times Media. Also, it has been told that Lancer group, which Manchester United owner Avram Glazer owns, will be bidding for the franchises.
According to reports, the former opener is set to join one of the consortiums, which are considered as a serious bidder for the two new Indian Premier League (IPL) franchises that will join the Indian Premier League 2022 auction.
“Yes, a former India opener is ready to shell out around INR 300 crore and buy a minority stake if the consortium he is part of is able to successfully bid for a new team. He comes from a business family and he does want to invest in a cricket team.
“He is a distinguished player in his own right and also understands how the franchisee universe works,” the BCCI source said.