The BCCI expects a loss of Rs 5,000 crore as the base price for the new teams, which will be kept at Rs 2,000 crore | IPL 2022

Fixtures

The Board of Control for Cricket in India (BCCI) may soon make a fortune of at least Rs 5,000 crore with two new franchises during the 2022 edition of the Indian Premier League.
The IPL, currently an eight-team tournament, will feature 10 teams from the next edition, and at a recent Governing Council meeting, the bidding process was decided.
A senior BCCI official said, “Any company can buy bidding documents for Rs 75 crore. Earlier, top officials had planned to keep the original value of the two new teams at Rs 1,700 crore but later decided to keep the original value at Rs 2,000 crore. The source told PTI on the condition of anonymity.
Sources who have worked on the financial side of the IPL in the past have said that the BCCI would earn at least Rs 5,000 crore if the bidding goes ahead as planned, with many big business groups showing active interest in bidding.
“The BCCI is hoping for something out of Rs 5,000 crore if nothing else. There will be 74 IPL matches next season and it is a win-win situation for everyone.”
It is learned that only those companies with an annual turnover of Rs 3000,000 crore will be able to bid for these teams.
In welcome news, the BCCI plans to permit an association to bid for teams because it makes the bidding process more lively.
“I understand that no more than three businesses will be allowed to form a consortium, but if three businesses come together and want to bid jointly for a team, they would be welcome to try to do so,” they said.
Places, where the team can be based, include Ahmedabad, Lucknow, and Pune.
The Narendra Modi Stadium in Ahmedabad and therefore the Ekana Stadium in Lucknow, with larger capacity, might be the selection for the franchise.
The names in the news include Adani Group, RPG Sanjeev Goenka Group, renowned pharma company Torrent, and a top banker who has shown active interest in buying the team.

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