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With two new franchises during the 2022 edition of the Indian Premier League i.e. IPL, the Indian cricket board could soon become richer by at least Rs 5000 crore. IPL, which is currently an eight-team tournament, will become a 10-team event from the next edition and the modalities of the bidding process have been chalked out during the recent Governing Council meeting.
A BCCI official on the condition of anonymity told news agency PTI, “Any company can buy the bidding document by paying Rs 10 lakh. First, the top officials are looking at keeping the base price for the two new teams at Rs 1,700 crore.” But later it was decided to keep the base price at Rs 2000 crore.” Sources, who have looked at the financial side of IPL in the past, said that BCCI will see a profit of at least Rs 5000 crore if the bidding goes according to plan, with a lot of big business groups showing active interest in bidding.
“BCCI is expecting anything in the range of Rs 5000 crore if not more. There will be 74 IPL matches in the next season and it is a win-win situation for all,” the official said. It is learned that only companies with an annual turnover of Rs 3000 crore will be allowed to bid for the teams. In a welcome news, BCCI is planning to allow a federation to bid for teams, as it makes the bidding process more lively.
“I think not more than three business entities will be allowed to form a consortium, but if three businesses come together and want to bid jointly for a team, they have to do so. Welcome to.”
The source said,
Locations where teams can be based include Ahmedabad, Lucknow and Pune. The Narendra Modi Stadium in Ahmedabad and the Ekana Stadium in Lucknow are large-capacity stadiums that could be the choice for the franchise. Some of the names that are in the news include Adani Group, RPG Sanjeev Goenka Group, renowned pharma company Torrent and a leading banker who have shown active interest in buying the teams.
