Any company can buy the bidding document by paying Rs 75 croreBase price has been decided to be Rs 2000 croreBCCI will have a profit of at least Rs 5000 croreNew Delhi
The addition of two new franchise teams in the 2022 season of the Indian Premier League (IPL) could soon add at least Rs 5000 crore to the account of the Board of Control for Cricket in India (BCCI).
IPL is currently played between eight teams but from next year 10 teams will play in it. Its bidding process was finalized during the recent meeting of the IPL Governing Council.
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A BCCI source said on condition of anonymity, “Any company can buy the bidding document by paying Rs 75 crore. Earlier, the base price of the two new teams was being considered at Rs 1700 crore but now it has been decided to increase the base price to Rs 2000 crore.
A source looking into the financial side of IPL said that if the bidding process goes as planned, the BCCI will have a profit of at least Rs 5000 crore as several companies are showing interest in the bidding process.
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“BCCI is expecting at least Rs 5000 crore. There will be 74 matches in the IPL next season and it will be a win-win situation for everyone.
It is learned that only companies having annual turnover of Rs 3000 crore or more will be allowed to participate in the bidding process. Not only this, BCCI is also planning to allow a group of companies to buy the team. This will make the bidding process more interesting.
“I think not more than three companies will be allowed to form a group, but if three companies want to come together and bid for a team, they are welcome to do so,” the source said.
The base locations for the new teams also include Ahmedabad, Lucknow and Pune. The Narendra Modi Stadium in Ahmedabad and the Ekana Stadium in Lucknow can be the choice of the franchise as these stadiums have more capacity.