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Punjab Kings co-owner Ness Wadia claims new IPL teams would go for Rs 3,000-3,500 cr

A total of 12 parties have already bought the two new team’s tender documents from the BCCI.

Punjab Kings co-owner Ness Wadia, in a recent interview, welcomed the addition of the two new IPL teams from the next season. He also commented that the bidding for the two new IPL teams will be between Rs 3,000-3,500 crore.

He stated that the inclusion of the two new teams will add a new dimension to the league, which will further help in attracting more viewership.

In the interview, he said, “IPL is the jewel in the crown of the BCCI and therefore the jewel will get the right value. Since there can only be two new teams, then automatically the value of existing franchises also goes up.

“It is a closed league and the beauty of today is that you have a fixed asset which not only gives you appreciation, on a yearly basis, but also consistent yearly revenue. You have got money coming in, approximately ₹250 to 300 crore a year, and that is the inflow coming into your pocket apart from the appreciation of the asset.

“It is a like a building in a prime location and all-around you people are developing, so value of your asset goes up too.”

“The value of each of the new teams should be 50 to 75% more than the base price of Rs 2000 cr. I think each team would go for a minimum of 3,000 to 3,500 cr,” Wadia said in the interview.

He also questioned, how the retention process will be taken up by the BCCI in this year’s mega auction. He remarked that “It (the mega player auction) should be fair and equitable, especially to the two new teams coming in. I’m looking forward to seeing what happens from that perspective.”

In an earlier report, we had mentioned that BCCI has reportedly gathered a lot of interest from various parties to buy the two new IPL teams. A total of 12 parties have already bought the two new team’s tender documents from the BCCI.

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