The Board of Control for Cricket in India (BCCI) is all in readiness to start the bidding process of two new franchises that will set the stage for a 10-team Indian Premier League tournament.
Here, we are going to divulge all the details related to the princess of the addition of two teams.
What is the base price of each new franchise?
The BCCI has fixed the base price of each franchise at Rs 2,000 crore. No bidding party can value new franchises at price below Rs 2,000 crore.
What is BCCI’s expectation of the final bidding price?
The BCCI has got the idea that there is huge interest among business groups in owning IPL franchises and hence they are executing franchises to be bought at prices between Rs 7,000-Rs 10,000 crores each.
Who can bid for the franchises?
As per the BCCI’s bidding document, a consortium of a maximum of three companies that has an annual turnover of at least Rs 2,500 crore can bid for the teams.
For individual companies, an annual turnover of Rs 3,000 core is the minimum financial criteria to bid for the teams.
Can overseas companies bid for the teams?
Yes, they can. Provided they have running operations in the country.
How many companies or individuals have bought the tender document?
As per a PTI report, there have been as many as 22 buyers of the tender document worth Rs 10 lakh.
What is the price of the bidding document?
The price of the bidding document has been fixed at Rs 10 crore.
What are the prominent names looking to buy new IPL teams?
There are India business heavyweights such as the Adani Group, the RP Sanjiv Goenka, Kotak group, Torrent Pharma, Aurobindo Pharma, Jindal Group vying for IPL franchise ownership.
Are the owners of Manchester United seriously interested in buying an IPL franchise?
Yes, the Glazer family that owns the venerable football club, has picked the bidding document through their firm named Lancer Capital.
What are the probable cities to get an IPL team from next year?
The list of cities that are in the fray to have an IPL side includes Ahmedabad, Lucknow, Indore, Guwahati, Pune, Dharamsala, Cuttack with the capital of Gujarat and Uttar Pradesh are firm favourites among them.