The Indian Cricket Board could soon be worth Rs 5000 crore more with the acquisition of two new franchises in the IPL 2022.
The IPL will expand from eight teams to ten teams in the upcoming edition, and the bidding process was just outlined by the governing council.
“The bid document costs Rs 10 lakh. Initially, the top brass considered retaining the base price for two additional clubs at Rs 1700 crore, but chose to keep it at Rs 2000 crore “an unnamed BCCI official informed PTI.
The source claimed the BCCI stands to make at least Rs 5000 crore if the bids proceed as planned, with many huge business conglomerates indicating active interest in bidding.
“The BCCI expects at least 5000 crore. Next season’s IPL will include 74 games, which benefits everyone.”
Only corporations with a 3000 crore yearly turnover would be permitted to bid for the teams.
The BCCI intends to allow a consortium to compete for teams, which will enhance the bidding process.
More than three commercial entities may not create a consortium, although three businesses may join together to jointly bid for a team.
Ahmedabad, Lucknow, and Pune are possible bases for the teams.
Franchises may opt for the larger Narendra Modi and Ekana Stadiums in Ahmedabad and Lucknow.
In addition to Adani, a renowned banker and the RPG Sanjeev Goenka group have expressed interest in buying teams.