After the bidding process opens on Monday, the Indian cricket board expects the two new IPL franchises to sell for Rs 7000 crore to Rs 10,000 crore apiece.
It’s still unclear whether the BCCI would reveal the winning bidders on Monday after conducting a technical examination of the offers.
There are 22 firms that have picked up a tender document worth Rs 10 lakh, but with the base price for new teams set at INR 2000 crore, only five to six serious bids are expected to enter the race.
A combination of up to three companies/individuals can also bid for a franchise, according to the BCCI.
However, the annual revenue of an individual or corporation should be at least INR 3000 crore, and in the event of a consortium, each of the three entities should have an annual turnover of INR 2500 crore.
Gautam Adani, India’s richest businessman, and his Adani Group are expected to bid for the Ahmedabad franchise under this scenario. If they finally put in a proposal, Adani Group will be the favorite to purchase a new franchise.
Similarly, the RPSG group, led by billionaire Sanjiv Goenka, is thought to be a serious contender for a new franchise. It is currently unknown whether RPSG will have any individual or other company as a member of the consortium.
“The top names in the Indian industry are Gautam Adani and Sanjiv Goenka. They’ll be competitive bidders. Potential bidders are expected to submit a minimum bid of INR 3500 crore. Remember that the IPL broadcast rights are expected to be worth over USD 5 billion (Rs 36,000 Crore).
“So the economics would operate similarly,” a BCCI insider watching the events told PTI on condition of anonymity. “Franchises will get the TV revenue share evenly.”
For the fact, Goenka owned the Rising Pune Supergiants (RPS) franchise in Pune for two years and also owns the ISL franchise ATK Mohun Bagan.
The bid document has also been taken up by Lancer Group, which is owned by Manchester United owner Avram Glazer.
The Kotak group, Aurobindo Pharma, and the Torrent group are among the other big enterprises in the running.
In terms of stadium capacity, Narendra Modi Stadium in Motera, with a capacity of more than 100,000, and Ekana Stadium in Lucknow, with a capacity of 70,000, are the two favorites.
Indore, Guwahati, Cuttack, Dharamsala, and Pune are the other cities in the running.
One of the consortium’s members could be a former Indian cricketer.
