spot_img
spot_img

12 parties buy tender for new IPL teams: Reports

The BCCI is surprised that even with a steep base price of Rs 2,000 crore the interest that the tender is generating is quite high.

The Board of Control for Cricket in India (BCCI) has reportedly received a lot of interest from various parties to buy the two new IPL teams that are up for grabs for the next season.

As per reports, a total of 12 parties have already bought the two new team’s tender documents from the BCCI. It’s still available for other parties to buy as the last date for the purchase of the document was recently shifted to October 10.

The BCCI is surprised that even with a steep base price of Rs 2,000 crore the interest that the tender is generating is quite high. After witnessing the interest, they expect the bids to go even higher than 3500 Cr.

A BCCI official in a statement said, “The interest for the new teams is better than expected. We are surprised by the response. We expect bid to go above 3500 Cr range for each team.”

The parties that have reportedly bought the tender documents already include big names such as Sanjeev Goenka of RPSG Group, Aurobindo Pharma, Torrent Pharmaceuticals, Broadcast & sports consulting agencies ITW, Group M, Consortiums of Singapore based Private Equity Firms, etc.

Reports suggest that in the coming few days, the Adani Group will also be buying the tender documents and will be joining the fray with the aim to own an IPL team.

With the postponement of the last date for the purchase of ITT documents, the auction date for the new teams has also been postponed. It was previously going to be held on October 17 but will now take place in Dubai on October 25.

The BCCI also recently announced that the tender for the Indian Premier League’s media rights for the 2023-2027 cycle will be released in October.

The BCCI honorary secretary, Jay Shah, noted in a media release that the “IPL Media Rights tender for the cycle 2023-2027 will be released immediately after the appointment of two new IPL teams which is scheduled to be announced on 25th October 2021.”

Related Articles

Latest Articles