IPL New Teams Tender: Bumper Diwali coming in for BCCI, two new IPL team to be finalized by mid-October

IPL New Teams Tender: Bumper Diwali coming in for BCCI, two new IPL team to be finalized by mid-October
IPL New Teams Tender: Bumper Diwali coming in for BCCI, two new IPL team to be finalized by mid-October

IPL New Teams – Tenders coming out in August: This Diwali will be really special for the Board of Control for Cricket in India (BCCI) & the Indian Premier League (IPL). Not only by mid of October, the BCCI will finish the 31 remaining matches of IPL 2021 in UAE but will also finish the unfinished business of finalizing the two new IPL teams for the next season. According to the information available, BCCI will come out with tender documents for two new teams by August and will confirm the new teams by middle of October.

Also Read: IPL 2021 Phase 2: 3 franchises hardest hit by players pull out before IPL in UAE in September

According to a report by TOI, the bid opening process for the new teams will coincide with the final of IPL 2021 Phase 2 in UAE. This means IPL 2022 will be bigger with more matches & longer window as it will be played with not 8 but 10 teams.

IPL New Teams Tender: Base price of new IPL teams & interested parties?

The big question at this stage in front of BCCI is what should be the base price in the tender. Till last year, the BCCI was planning to keep 1500 Cr as a base price for the new IPL teams – but the recent investments in Rajasthan Royals at a very high valuation has changed the dynamics for BCCI.

Last month it was announced that the  Liverpool investors RedBird Capital Partners, which has interests in the parent company of Liverpool and the Boston Red Sox, has picked up a 15% stake in the IPL franchise Rajasthan Royals for an undisclosed amount. According to the sources deal placed an enterprise value of the franchise at between $250 million to $300 million.
This transaction clearly indicates that the base price of new IPL teams can be in the range of 2000 Crore or more.
InsideSport.co earlier spoke to some of the senior board officials in June and were told that nothing on the base price has been decided formally.
“We have not discussed the base price for the new teams formally as yet. IPL teams are a great investment and has given the initial investors great returns. My personal view is that it will be nothing less than 2000 Cr but I am again repeating myself nothing formally has been discussed in BCCI about the base price”, said one of the top BCCI official.

It is worth noting that when initially the first 8 teams were sold in IPL in 2008, the base price was USD 50Mn (Dollar was capped at Rs 35)

Mumbai Indians was sold to Ambani’s for $111.9 Mn
RCB at $111.6 Mn
Deccan Chargers went at $107 Mn
CSK was sold at $91 Mn
Delhi Daredevils – $84 Mn
Kings XI Punjab – $76 Mn
Kolkata Knight Riders – $75.09 Mn
Rajasthan Royals was the cheapest team at $67 Mn

IPL New Teams Tender: So who can afford such an investment and who can be the interested parties for new IPL teams? 
The answer is clear. Since the last 12 months, two names doing the rounds is Kolkata-based RP-Sanjiv Goenka Group based out of Kolkata & the Adani group headquartered in Ahmedabad. Both have shown keen interest in having IPL team on many occasions in past and will surely throw their hat in the ring when the tenders are released in August.
Other than this, InsideSport is privy to the information that big Gold Finance company down South is also interested in acquiring the IPL unit along with a Pharma company based out of Hyderabad.
IPL New Teams – Tenders coming out in August: Once BCCI formally releases the tender, more names are sure to show interest in the most growing and valued sports asset in entire continent of Asia.
IPL New Teams – Which cities will be in the fray? According to the information available with InsideSport, the city of Ahmedabad will be the front runner for one of the new IPL team. But the fight for the 2nd slot will be fierce as multiple cities are likely to vie for the IPL franchise.
As per the sources, the tenders will give the potential bidders options of 8 to 10 cities to chose from for the new IPL teams. Ahmedabad, Pune, Lucknow, Kanpur, Guwahati, Indore, Kochi, Raipur and Trivandrum will be some of the cities that will be in contention for the two slots.
Follow all news about IPL 2021 Phase 2, Cricket & other sports only on InsideSport.co