DUBAI: The Indian cricket board will be expecting the two new IPL franchises to go for Rs 7000 crore to Rs 10,000 crore each after the bidding process begins here on Monday. It is still not clear whether the BCCI will announce the successful bidders on Monday itself after doing the technical evaluation of the bids.
Here are the basic things to know about as the cash-rich league is all set to invite new joiners.
How many teams are up for bidding?
BCCI will have two new teams as IPL will become a 10-team league from 2022.
What is the bid price of tender document?
The bid price of tender document is Rs 10 lakh.
Which are the cities in fray?
Ahmedabad, Lucknow (two favourites), Indore, Guwahati, Pune, Dharamsala, Cuttack.
What is the Base Price set by BCCI?
The base price per team Is Rs 2000 Cr. This means no potential buyer can bid less than that. That's the minimum amount from where bidding starts.
Which kind of companies can bid for a franchise?
Any company (even overseas) which has its operations in India and is enlisted can bid for a team. However, the annual turnover has to be minimum Rs 3000 Crore.
Is Consortium (a joint bid from multiple companies) allowed?
Yes, a consortium of 3 companies/entities is allowed. However, each will have to have a net worth of Rs 2500 crore annually.
How many companies have picked up the bids?
22 companies have picked bids.
Major names who have picked up the bid document?
Adani Group, RP Sanjiv Goenka, Kotak, Torrent Pharma, Aurobindo Pharma, Lancer Capital (Avram Glazer owner of Man United), Naveen Jindal.
Will Bollywood couple Deepika Padukone and Ranveer Singh join a consortium?
There is no such confirmation as of now but they could be a minority stake holder or brand ambassadors of a new franchise.