Board of Control for Cricket in India (BCCI) is expected to acquire a reported INR 5000 crore following the addition of two new franchises in the IPL 2022 season. The eight-team tournament will be expanded to 10 teams for the 15th edition of the biggest T20 league in the world.
The new teams that will be introduced have a base price of a whopping INR 2000 crore. Plenty of large business conglomerates have shown keen interest in bidding for the two places and therefore, the apex board will fetch a large sum of money from the deal.
“Any company can buy the bid document paying ₹75 crores. Earlier top brass was thinking about keeping the base price for two new teams at ₹1700 crore but later it was decided to keep the base price at ₹2000 crore,” a senior BCCI official was quoted as saying to PTI.
The source has prior experience dealing with the financial aspects of the IPL. He believes the increase in the number of teams will bring a wider audience and hence it will turn out to be a win-win situation.
“The BCCI is expecting anything in the range of 5000 crores if not more. There will be 74 IPL games next season and it’s a win-win situation for everyone.“
Among the possible venues, Ahmedabad, Lucknow, and Pune have emerged as the frontrunners. The recently inaugurated Narendra Modi Stadium in Ahmedabad could be a major source of revenue considering the crowd capacity it can accumulate. Therefore, a franchise would be keen to set up a base there.
Also, the BCCI is considering an option to allow consortiums (two or more groups) to make bids for a team. Only companies with an annual turnover of INR 3000 crore can participate in the bidding.
“I think more than three business entities won’t be allowed to form a consortium but if three business come together and wants to jointly bid for a team, they are welcome to do so,” the source added.
Possible Buyers For New Teams In IPL 2022
RPG Sanjeev Goenka Group
Torrent (Pharmaceutical company)
The post IPL 2022: Base Price For New Teams Kept At INR 2000 Cr, BCCI Expects INR 5000 Cr Windfall – Reports appeared first on CricketAddictor.