The bidding process for two new Indian Premier League (IPL) teams is ongoing in Dubai. 22 companies have picked up tender document worth ₹10 lakh but with base price for new teams pegged at ₹2,000 crore, there were only ten serious bidders in fray. The Governing Council of the IPL had issued the 'Invitation to Tender' ("ITT") document available on payment of the non-refundable tender fees on August 31, 2021.
Manchester United owners showing interest to
be a part of the IPL may be one of the reasons why the Board of Control for
Cricket in India (BCCI) on September 21 informed they have decided to extend
the date for purchasing the Invitation to Tender (ITT) for the right to own and
operate one of two proposed new IPL teams document till October 10 from the
initial deadline of October 5.
How many teams are up for bidding?
BCCI will have two new teams as IPL will be 10-team league from
2022.
What is the bid price of tender document?
The bid price of tender document is ₹10
crore.
Which are the cities in fray?
Ahmedabad,
Lucknow (two favourites), Indore, Guwahati, Pune, Dharamsala, Cuttack.
What is the Base Price set by BCCI?
The base price per team Is ₹2000
Cr. This means no potential buyer can bid less than that. That's the minimum
amount from where bidding starts.
Which kind of companies can bid for a franchise?
Any company (even overseas) which has its operations in India
and is enlisted can bid for a team. However, the annual turnover has to be
minimum ₹3000 Crore.
Is Consortium (a joint bid from multiple companies) allowed?
Yes, consortium of 3 companies/entities is allowed. However each
will have to have a net worth of ₹2500 crore
annually.
How many companies have picked up the bids?
22 companies have picked bids.
Major names who have picked up the bid document?
Adani Group, RP Sanjiv Goenka, Kotak, Torrent Pharma, Aurobindo
Pharma, Lancer Capital (Avram Glazer owner of Man United), Naveen Jindal.
Will Bollywood couple Deepika Padukone and Ranveer Singh join a
consortium?
A: There is no such confirmation as of now but they could be a
minority stake holder or brand ambassadors of a new franchise.