Last Update on: October 23rd, 2021 at 12:04 pm
Avram Glazer, who is a member of the family that owns a majority stake at Manchester United football club, and Adani Group are among the 22 business entities that have picked up bid documents for the 2 new Indian Premier League (IPL) franchises.
The other big names who will be bidding for the two new Indian Premier League (IPL) teams are RP-Sanjiv Goenka Group, Jindal Steel, Torrent Pharma, Aurobindo Pharma, and Hindustan Times Media.
The bids for the new Indian Premier League franchises will be opened at a walk-in event which is set to take place in Dubai on October 25. 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.
IPL New Teams Tender Got Delayed After The Wide Interest From Potential Bidders
Previously the bids were set to be opened on October 17, but it was delayed after several big entities showed their interest in the IPL franchises.
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.
The last time two new franchises joined the Indian Premier League (IPL) was in 2016 when Rising Pune Supergiants and Gujarat Lions were added after the suspension of Chennai Super Kings (CSK) and Rajasthan Royals (RR) for two years.
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.
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