Punjab Kings (PBKS) co-owner Ness Wadia reckons that the two new teams for the Indian Premier League (IPL) could be sold for a minimum of ₹3,000 to 3,500 crore.
The Board of Control for Cricket in India (BCCI) had earlier informed that it will announce the details of the two new teams who will join the IPL on October 25 after a team auction.
Terming the addition of two new teams to the T20 league as a welcome move, Wadia told TOI in an interview:
"The value of each of the new teams should be 50 to 75% more than the base price of Rs 2000 cr. I think each team would go for a minimum of 3,000 to 3,500 cr.”
According to the 50-year-old, the inclusion of two more teams in the IPL will add a new dimension to the league. Wadia added:
"It will bring in a much wider base of viewership. And it will strengthen the IPL, which is already the greatest cricket league in the world and one of the greatest leagues in world sport. I believe that it will add a lot of opportunity to not only several other cricketers, but will bring in a lot of income to coaching staff and owners. It'll be economically beneficial to all those who participate in the IPL. It will provide employment.”
Meanwhile, the IPL mega is all set to be held in December. As a result, franchises will only be allowed to retain a handful of players. Asked to share his thoughts on the same, the PBKS co-owner said:
"It (the mega player auction) should be fair and equitable, especially to the two new teams coming in. I'm looking forward to seeing what happens from that perspective."
Although the IPL organizers haven’t revealed the retention rules yet, according to media reports, each franchise would not be allowed to retain more than three to four players. They will also be given the option of RTM (Right To Match) at the auction.
“It's a bit disappointing. We should've done better” - Ness Wadia on PBKS’ IPL 2021 performance
PBKS have had a disappointing run in IPL 2021. They have registered only five wins from 13 games. They went down to Rajasthan Royals (RR) despite needing only four runs to win off the last over.
In their previous encounter against the Royal Challengers Bangalore (RCB) as well, they crumbled to defeat from a dominant position.
Reflecting on PBKS’ effort in this year’s IPL, Wadia conceded:
"It's a bit disappointing. We should've done better, and I'm sure that we will. I'm sure that the players are well aware of their responsibilities, required focus and improvement in closing out of games. But there's a lot of pressure, and one does understand that.”
PBKS will take on Chennai Super Kings (CSK) in their last league encounter on October 7 in Dubai.