The IPL bids for the event management were opened in New Delhi and the lucrative game attracted as many as four bidders. Highly likely was IMG, the other three being Wizcraft, Group of 4 and to everyone’s surprise was Dhoni backed Rhiti sports. But it was the IMG who won the bids for the next 5 years of IPL.
The BCCI will be paying around Rs 167.5 crore to the company, according to reports. Having been conceptualised and executed the tournament for the last 10 years, IMG was always thought to be the favourite.
According to reports, the BCCI will pay IMG close to 40% more of the previous one for services to be rendered over the next five years.
As per other reports, IMG net a total of Rs43 crore for the first season, while the amount was reduced to Rs33 crore for the overseas edition in South Africa. But after Lalit Modi was dethroned as the IPL chairman, the deal was renegotiated and the amount was fixed somewhere to be around Rs27 crore a year.
IMG emerged as a clear winner outbidding Rhiti Sports, known to be owned by the manager of Mahendra Singh Dhoni.
Rhiti’s bid was a surprise for everyone but its past record shows the firm has been associated with a few teams in different leagues, including Chennai Super Kings, in marketing their properties.
Among those present when the bids were opened were IPL chairman Rajeev Shukla, acting BCCI secretary Amitabh Choudhary, treasurer Anirudh Chaudhry and CEO Rahul Johri.