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.
The 5th edition of the Indian Premier League saw nine teams competing for the crown, and plenty of thrashings, upsets, and magnificent moments. Although it was quite a year for bowlers as well, the batters had their own very loud say. From Chris Gayle in his prime to a young Robin Uthappa, 2012 had a […]
In the high-stakes world of the Indian Premier League, every run counts. A batter can be the darling of the tournament one season only to be relegated to mediocrity the next. When runs make the backbone of the game, the batter to get the most is treasured beyond measure even if his team fails to […]
In just its third year of the tournament, IPL 2014 was just as much a spectacle as it is now, just with more novelty. The meta of the T20 format was still in the works, and many of the legends of ODI cricket were still at the top of their game. With pure T20 players […]
IPL 2017 was the 10th edition of the tournament that cricket lovers can’t get enough of. From smashing sixes to fabulous fours, here are the top run-scorers for this season of the tournament. Take a look! #5 Suresh Raina This soft-spoken Indian batsman has been a crucial part of the Chennai Super Kings franchise for […]
IPL 2016 was as full of fire as a cricket fan expects the tournament to be. In the end, Sunrisers Hyderabad emerged victorious and Royal Challengers Bangalore ended up as runners-ups. In all the matches that were played, these are the batsmen who scored the most runs in IPL 2016. #5 Shikhar Dhawan This powerhouse […]
2015 was another amazing season for the shortest and the most entertaining format of cricket – the Indian Premier League. This was the eighth season of the popular tournament that saw Mumbai Indians emerge as the winner. However, all the matches were as exciting and fun as ever for cricket experts and fans. Here are […]