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BCCI is expecting the two new Indian Premier League (IPL) franchises to go for amounts between INR 7,000 crore and INR 10,000 crore. The information is being relayed, according to news agency PTI. The bidding process for the two new IPL teams will begin in Dubai on Monday.
A total of 22 companies have picked up bidding papers worth INR 10 lakh, but the base price for the new teams has been set at Rs 2,000 crore, and only five to six serious bidders are expected.
The BCCI is also allowing consortiums of up to three companies or individuals to make bids.
Former India opener wants stake in new IPL franchise: report
Industrialist Gautam Adani and his Adani Group are favorites to bid for one of the franchises. Billionaire Sanjeev Goenka's RPSG group is another interested party. Goenka earlier owned Rising Pune Super Giant for two years in the IPL.
PTI quoted a BCCI official as saying:
"Gautam Adani and Sanjiv Goenka are the biggest names in the Indian industry. They will be serious bidders. Expect a minimum bid of Rs 3,500 crore from the potential bidders. Don't forget that IPL broadcast rights is projected around $5 billion (Rs 36,000 Crore). So the economics will work accordingly as franchises get the TV revenue share equally.”
A BCCI source also confirmed that a former India opener may join a consortium in bidding for a team.
"Yes, a former India opener is ready to shell out around Rs 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 source was quoted as saying.
There has also been buzz that the owners of Manchester United, the Glazer family, are interested in acquiring an IPL franchise.
Bollywood star couple Ranveer Singh and Deepika Padukone are also reported to be interested in acquiring a stake in a team and will join up with a consortium.
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