22.10.2021,16:10 88 0

Big Business Houses Show Interest In New IPL Teams

Big Business Houses Show Interest In New IPL Teams

The Indian Premier League is one of the most popular T20 leagues in India. It has grown to be a huge success since its inception in 2008 and it now attracts some of the biggest business houses from all over the world who are interested in acquiring new teams. With only two days left, over a dozen parties have bought the ITT (Invitation to Tender) document for new IPL teams. While it’s uncertain whether all of them will be able to make it in Dubai next week with their bids, some big business houses are showing interest and could bid on these teams.

The Board of Control for Cricket in India (BCCI) has put up Cuttack, Ranchi, Guwahati, Dharamsala, Lucknow and Ahmedabad franchises for purchase. According to reports from cric-life.com, Gujarat-based Adani Group has shown serious interest in buying the Ahmedabad franchise. A few other big parties who have bought the ITT and will be present for the bid include Sanjiv Goenka of RPSG Group, Hyderabad-based Aurobindo Pharma, Ahmedabad-based Torrent Pharma and some venture capitalists and agencies.

Reports say that some of the parties requested the Indian cricket board to cut down on the financial criteria of INR 3000 crore turnover and INR 2500 net worth for a company or individual in order to be eligible for the bid of new teams of IPL. However, the BCCI have discarded the request.

It has been explained that the BCCI wants to keep the financially exclusive nature of the world’s grandest T20 tournament intact. It has been fifteen years since IPL commenced and there haven’t been any payment defaults so far.

According to reports, the base price for the IPL new teams will start from INR 2000 crore. The highest bidder will be awarded the new team. While there are 6 cities in the run for the bid, Ahmedabad and Lucknow are expected to attract serious bidding.

Liked? Share:
0   voted
Similar articles
MSD Expresses Wish to Retire in Front of Home Crowd
MSD Expresses Wish to Retire in Front of Home Crowd
Read more

Chennai Super Kings captain Mahendra Singh Dhoni has once again expressed his desire to play his final game before hanging up his keeping gloves at what will hopefully be a packed M. A. Chidambaram Stadium. For those feeling disappointed, the former Indian captain also added that he was unsure whether that match would take place […]

Shikhar Dhawan Can Be an Excellent Choice to Lead an IPL Team; His Stats and Stature Back Him
Shikhar Dhawan Can Be an Excellent Choice to Lead an IPL Team; His Stats and Stature Back Him
Read more

When we talk about success in the IPL, the term consistency is vital, and Shikhar Dhawan has been the epitome of putting in consistent performances for his IPL franchise. Having amassed 5784 runs in 192 matches, Shikhar Dhawan is the second-highest run-scorer in the IPL, only behind Virat Kohli. However, despite these numbers and his […]

Selectors Want Sundar Available for Selection for the South African Tour in December
Selectors Want Sundar Available for Selection for the South African Tour in December
Read more

Earlier this year, Washington Sundar had sustained a finger injury during a practice match that ruled him out of the Test series versus England scheduled in July. Since then, Sundar has missed many essential and significant cricketing tournaments like the IPL and even the 2021 ICC T20 World Cup.  In the last three years, the […]

Sanjay Bangar to Replace Mike Hesson as the Head Coach of RCB
Sanjay Bangar to Replace Mike Hesson as the Head Coach of RCB
Read more

It seems Royal Challengers Bangalore are already gearing up for the next season of IPL cricket, with several new changes in the team – starting with a new head coach. Sanjay Bangar has been named as the head coach for their next IPL season. He takes the responsibility of coaching RCB from Mike Hesson. Hesson, […]

Adam Milne's Roller-Coaster Ride Brings Him into New Zealand's T20 World Cup Plans
Adam Milne’s Roller-Coaster Ride Brings Him into New Zealand’s T20 World Cup Plans
Read more

“It always seems impossible until it’s done”. This quote by Nelson Mandela is very applicable to Adam Milne’s inclusion in New Zealand’s squad in this year’s ICC T20 World Cup. Before the start of the tournament, Adam Milne wasn’t even included in the 15-man squad that would represent New Zealand at the ICC T20 World […]

IPL 2021 Lessons - How Will the UAE Pitches Play out at the T20 World Cup?
IPL 2021 Lessons – How Will the UAE Pitches Play out at the T20 World Cup?
Read more

After the exciting IPL 2021 season, we are moving forward to the T20I Men’s World Cup. There is one thing common between both tournaments. It is the pitches where the matches will be held. The participating teams will be headed to the UAE for the world cup matches. The tournament will be played in three […]