Real estate developer makes ₹6.5 cr bid Mumbai T20 league team

Mumbai T20 League - InsideSport

Three prominent developers – Radius, Parinee and Shree Naman Group – are among the six successful franchise owners for the inaugural T20 Mumbai League.

Radius Developers have reportedly made the biggest ₹6.5 crore bid to acquire a team in the league, launched by the Mumbai Cricket Association. Another city-based realtor Parinee Developers too have confirmed their bid for a TML team.

The bid by Sanjay Chhabria-owned Radius Developers is reported by Sportstar to be the highest one. The realtor credited with the construction of Bandra Kurla Complex has acquired the North Mumbai franchisee for the inaugural T20 Mumbai League.

The bid documents for all the six teams were opened in the Mumbai Cricket Association complex on Wednesday. However, a formal announcement about the successful bidder is not made as yet.

Meanwhile, Parinee Developers owner Mukesh Patel too has confirmed that the company has submitted a bid for a TML team. Patel has also been a co-owner of the controversially terminated Indian Premier League franchise Kochi Tuskers Kerala.

The six-team Mumbai League is scheduled to be played between 11 and 21 March at the Wankhede Stadium. MCA had invited franchisee interests for the Mumbai North, Mumbai North-West, Mumbai North-East, Mumbai North-Central, Mumbai South-Central, and Mumbai South teams.

It is reported that PK Hospitality have got the franchisee rights for the Mumbai North-Central team at the base price of ₹3 crore. The other two bids for the same team were rejected as void. Transcomm Ltd, construction company Shree Naman Group and Star Connect are reportedly among the other successful franchisees.

MCA has sold 26 bid documents. However, only nine bids were received for the six teams.

The league brand ambassador Sachin Tendulkar has formally announced the league.