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.
There are 22 companies which have picked up tender documents worth Rs 10 lakh but with a base price for new teams pegged at INR 2000 crore, there is expected to be only five to six serious bidders in the fray.
The BCCI is also allowing a consortium of up to three companies/individuals to bid for a franchise.
However, in the case of an individual or company, that particular entity’s annual turnover should be a minimum of INR 3000 crore and in the case of a consortium, each of the three entities should have an annual turnover of INR 2500 crore.
In this scenario, one of India’s richest business tycoon Gautam Adani and his Adani Group are expected to bid for the Ahmedabad franchise. Adani Group, if they finally put up a bid, are the favourites to own a new franchise.
Similarly, RPSG group which is headlined by billionaire Sanjiv Goenka are also considered to be serious bidders for a new franchise. Whether RPSG would have any individual or other company as a part of the consortium is still not known.
“Gautam Adani and Sanjiv Goenka are the biggest names in the Indian industry. They will be serious bidders. Expect a minimum bid of INR 3500 crore from the potential bidders. Don’t forget that IPL broadcast rights is projected around USD 5 billion (Rs 36,000 Crore).
