BCCI expecting anything between Rs7k cr-10k cr with Adani, Goenka, Aurobindo in the fray

back icon
safari
24 Oct 2021 | 06:58 AM
authorPTI

BCCI expecting anything between Rs7k cr-10k cr with Adani, Goenka, Aurobindo in the fray

22 companies have picked up tender documents worth Rs 10 lakh but with a base price for new teams pegged at INR 2000 crore

The Indian cricket board will be expecting the two new IPL franchises to go for Rs 7000 crore to Rs 10,000 crore each after the bidding process begins here on Monday. It is still not clear whether the BCCI will announce the successful bidders on Monday itself after doing the technical evaluation of the bids.

There are 22 companies that have picked up tender documents worth Rs 10 lakh but with a base price for new teams pegged at INR 2000 crore, there is expected to be only five to six serious bidders in the fray. The BCCI is also allowing a consortium of up to three companies/individuals to bid for a franchise.

However, in the case of an individual or company, that particular entity's annual turnover should be a minimum of INR 3000 crore and in the case of a consortium, each of the three entities should have an annual turnover of INR 2500 crore. In this scenario, one of India's richest business tycoons Gautam Adani and his Adani Group are expected to bid for the Ahmedabad franchise. Adani Group, if they finally put up a bid, are the favourites to own a new franchise.

Similarly, the RPSG group, which is headlined by billionaire Sanjiv Goenka, are also considered to be a serious bidder for a new franchise. Whether RPSG would have any individual or other company as a part of the consortium is still not known.

"Gautam Adani and Sanjiv Goenka are the biggest names in the Indian industry. They will be serious bidders. Expect a minimum bid of INR 3500 crore from the potential bidders. Don't forget that IPL broadcast rights is projected around USD 5 billion (Rs 36,000 Crore). So the economics will work accordingly as franchises get the TV revenue share equally," a BCCI insider tracking the developments told PTI on conditions of anonymity.

For the record, Goenka owned the Pune Franchise Rising Pune Supergiants (RPS) for two years and is also the owner of ISL franchise ATK Mohun Bagan. There has been buzz that Lancer group, which is owned by Manchester United owner Avram Glazer, has also picked up the bid document. The other notable companies which are in the fray comprise Kotak group, pharmaceutical majors Aurobindo Pharma and Torrent group.

The two cities that are favourites in terms of stadium capacity are Narendra Modi Stadium in Motera with more than 100,000 capacity while the other is Ekana Stadium in Lucknow with 70,000 capacity. The other cities in the hunt are Indore, Guwahati, Cuttack, and Dharamsala.

A former India opener may join one of the consortiums which are expected to be serious bidders for the new franchises. "Yes, a former India opener is ready to shell out around INR 300 crore and buy a minority stake if the consortium he is part of is able to successfully bid for a new team. He comes from a business family and he does want to invest in a cricket team. He is a distinguished player in his own right and also understands how the franchisee universe works," the BCCI source said.

heart
shareGray Share
Tags
Indian Premier League, 2021India

Related Articles

safari
NEWS
BCCI sets Rs 90 crore as salary purse, 42 crore for maximum 4 retentions
The two new franchises will also be given three picks prior to the mega auction
userPTI
30 Oct 2021
safari
OPINION
IPL - A money-minting machine
Even a company like Adani Sportsline Pvt. Ltd, whose parent conglomerate is a big contributor to Nifty50 Benchmark Index, missed out
userBastab K Parida
28 Oct 2021
safari
NEWS
No doubt valuations will go up in the future: Sanjiv Goenka
The RPSG group bought the Lucknow-based franchise for a whopping 7,090 crore
userPTI
25 Oct 2021
safari
OPINION
All you need to know about the RPSG, CVC groups and the two new IPL franchises
The explainer which will tell you everything you need to know about Monday’s happenings, and what lies ahead
usercricket.com staff
25 Oct 2021
safari
NEWS
Lucknow and Ahmedabad officially announced as new IPL franchises
The bidding process, which was held earlier today, was won by the RPSG Group and CVC Capital Partners respectively.
usercricket.com staff
25 Oct 2021
safari
NEWS
BCCI to hold auction for new IPL teams on October 17: Reports
The BCCI is likely to conduct a closed-doors auction for the two new teams for the upcoming IPL season
usercricket.com staff
14 Sep 2021
safari
NEWS
IPL 2022: Base price for two new teams kept at Rs 2000 crore
The BCCI is expecting a windfall of Rs 5000 crore with the addition of two new team for IPL 2022
userPTI
31 Aug 2021
safari
NEWS
Record IPL deals for Morris and Gowtham; Maxwell goes for 14.25 crore
Here are all the highlights from the Indian Premier League 2021 auction, held in Chennai
userCricket.com Staff
18 Feb 2021
safari
NEWS
IPL 2020 prize money set to reduce by 50 percent
BCCI has notified that instead of a whopping Rs 20 crore, the IPL champion team will now receive Rs 10 crore only
userPTI
04 Mar 2020
safari
NEWS
Kolkata to host IPL 2020 auction on December 19
The trading window that is currently open will close on November 14, and all the franchises were informed about it on Monday
userPTI
01 Oct 2019
logo
Cricket like never before
Follow us on
FacebookTwitterLinkedin
@ 2020 cricket.com | All rights reserved