The Indian cricket board is soon expected to get richer following the induction of the two new franchises in the Indian Premier League (IPL). The experts foresee BCCI to fetch gains of around INR 5000 Crores as soon as the new franchises get finalised.
The Board of Control for Cricket in India (BCCI) have made its mind to make the elite Indian T20 League a ten teams affair by adding two new teams to the existing pool of eight. The modalities and bidding process were chalked out by the officials in the latest governing council meeting.
“Any company can buy the bid document paying ₹75 crores. Earlier top brass was thinking about keeping the base price for two new teams at ₹1700 crore but later it was decided to keep the base price at ₹2000 crore,” a senior BCCI source told PTI on the condition of anonymity.
The person who has dealt with the financial side of IPL in the past has revealed that the Indian cricket board has clear odds to get at least 5,000 Crores gains if the bids go as per the plans chalked out in the GC meeting.
“The BCCI is expecting anything in the range of 5000 crores if not more. There will be 74 IPL games next season and it’s a win-win situation for everyone.”
BCCI to fetch gains of around 5000 Crores with the addition of two new franchises in IPL 2022.
It is also learnt that the board has opted to allow only certain companies to bid whose annual turnover exceeds INR 3000 crores.
With several conglomerates actively looking to acquire a new franchise in the IPL, the BCCI is presuming the bidding process to be more interesting. Furthermore, the plans of allowing consortiums to bid for a franchise will make the process more vibrant.
“I think more than three business entities won’t be allowed to form a consortium but if three business come together and wants to jointly bid for a team, they are welcome to do so,” he said.
As of now, no sureshot indications have been shown up whether which two Indian stadiums will get the new IPL teams, but Ahmedabad’s Narendra Modi Stadium along with Lucknow’s Ekana Stadium are the favourites.
The big corporate entities such as Adani group, RPG Sanjeev Goenka group, noted pharma company Torrent have shown their active interest in owning a franchise.