Punjab Kings co-owner Ness Wadia feels Rs 2000 crore base price for two new IPL teams is a conservative number which should go up by 50 to 100 per cent during bidding. The new franchises will be announced on October 25, making the IPL a 10-team affair.
Speaking to PTI, Wadia said the addition of the teams will lead to appreciation of the IPL’s value as well as the existing franchises. “The minimum base price is Rs 2000 crore at the moment, it will go for quite a lot more. Based on my little experience and knowledge of the IPL, 2000 is very conservative and I wouldn’t be surprised if it went up a minimum of 50 to 100 per cent more than that. I would expect at least Rs 3000 crore plus.
“Everyone wants to be a part of IPL but only a handful can be a part of it,” said Wadia. Asked if there are concerns that the existing teams might have with the addition of more outfits, Wadia said: “There are no concerns at all. It is good that two new teams are being introduced.
“I also feel IPL is a premium product and with the limited number of teams, the value of all the franchises will go up after the addition of new franchises. Bringing in 10 teams will bring more width and depth to the IPL. “There have been eight teams for majority of the IPL history and after this, I don’t see more teams coming into the league for at least five to seven years.
“It will be very good for the broadcasters also. I see it as a big positive,” he said. Wadia feels new teams will also make the IPL a stronger product.
“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.
