THE 19th edition of the Indian Premier League (IPL) season will begin in two months or so. Rajat Patidar's Royal Challengers Bengaluru are the defending champions but there's still no clarity on whether they would be able to play their games at home.
Off the field, between now and then, there promises to be developments. A look...
What are the developments you talk about?
The most significant one yet happened on Thursday when Adar Poonawalla, the vaccine giant and the face behind the Pune-headquartered Serum Institute of India, made his intentions clear of bidding for outright ownership of RCB. It follows months of speculation when Poonawalla was among a handful of businssmen to say they were interested in owning the league's most valuable franchise. While the franchise, one of the eight founding members, is very profitable, Diageo, the current owners, would be seeking well over $1.5bn. At that price point, Poonawalla and the others (they include Nikhil Kamath, Adani as well as JSW) will have to wonder if what they are getting is worth the money.
Is it?
In a closed league without any threat of relegation and a potential Champions League T20, it's worth it. Plus, RCB, with Virat Kohli in its ranks, have ready-made access to one of India's biggest stars across any field in a city where disposable income isn't a problem. It's kind of why their tickets continue to be big even after they introduced the dynamic pricing model a few years ago. But a new media rights deal will kick in post the 2027 season. Will any broadcaster continue to shell out top money for live cricket in an economy that's clearly facing a few headwinds. Plus, after the merger, the competition isn't that much. In such a climate, potential owners may have to factor that in.
Any other teams who are looking to cash in?
Rajasthan Royals were, at least informally, looking at options. Among the newer franchises, Lucknow Super Giants may be looking at raising money. Then, there's Chennai Super Kings. Out of the 10 franchises, they are the only side to have shares in the unlisted market. It's slowly increased its value to just over north of `200 (LIC are one of the top shareholders at the moment according to publically available information). While rules (should the BCCI give an approval) are sketchy at the moment, there remains the promise of them being the first sports team in India to announce an IPO.