IPL New Teams – Bumper Diwali for BCCI: The BCCI is up for bumper Diwali this year. Despite of the steep base price of 2,000 Crore, the interest to buy new IPL teams is increasing with each passing day. According to the information available with InsideSport.co, 12 parties have already bought the IPL New Teams tender document and still few can join the fray as the last date to purchase is October 10th.
Also READ: IPL vs ICC Media Rights: BCCI stumps ICC as IPL media…
The Indian board is surprised with the interest tender is generating & expect bid to go north of 3500 Cr.
“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”, said one of the top BCCI official
Also READ: IPL 2021 Playoffs Race: Mumbai Indians is back in Playoff Race…
IPL New Teams: BCCI up for big windfall this Diwali, 12 parties buy tender for new IPL teams, announcement of the new teams on 25th Oct
IPL New Teams Tender – IPL New Teams Contenders: According to the information available with InsideSport.co, the parties who have bought tender documents includes the likes of Sanjeev Goenka of RPSG Group, Aurobindo Pharma, Torrent Pharmaceuticals, Broadcast & sports consulting agencies ITW, Group M, Consortiums of Singapore based Private Equity Firms & few other parties.
The most surprising party missing is Adani Group from the line-up. According to the sources Adani’s are yet to pick the tender and will join the party little closer to the tender picking deadline of 10th October.
The BCCI recently extended the deadline, making the ITT document available for purchase till October 10. The deadline for it previously was October 5.
The auction for the new teams, which was to be held on October 17, will now take place in Dubai on October 25.
InsideSport.co was the first platform to inform that the base price kept in the tender document has been fixed at Rs 2,000 crore. Not only this but some more stringent conditions will have to be fulfilled by the potential bidders to participate in the tender.
- Potential bidders can’t form consortium of more than 3 partners
- One of the consortium partner should have Rs 2,500 crore net worth & a minimum annual turnover of Rs 3,000 crore.
- Base price to participate in the tender Rs. 2000 Cr
- IPL New Teams Auction – IPL 2021: Potential bidders who qualify in the technical bid will be allowed to participate in the financial bidding.
- One party can bid for two cities with Ahmedabad, Lucknow, Indore, Cuttack, Guwahati and Dharamsala shortlisted for the two new teams.
- Furthermore, the teams will be liable to pay 10% every year for 10 years and 20% after 10 years. In exchange, BCCI will be sharing 50% of revenue from the central pool after every season.
IPL vs ICC Media Rights: BCCI stumps ICC as IPL media rights tender to be released in October after announcement of 2 new teams
IPL Media Rights Tender – Meanwhile the BCCI has also stumped the International Cricket Council (ICC) by announcing that the tender for IPL media rights for the 2023-2027 cycle will be released right after the announcement of the two new teams on October 25.
“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″
The development comes just after InsideSport.co revealed that ICC wanted to avoid the clash of IPL media rights tender & will be launching their own tender in December. But the Sourav Ganguly-led Indian board has managed to stump them by deciding to release their tender before them in October.
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