New IPL franchises could bid 7-10k cr

Dubai, Oct 24: 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 document worth Rs 10 lakh but with base price for new teams pegged at INR 2000 crore, there is expected to be only five to six serious bidders in fray.
The BCCI is also allowing a consortium of up to three companies/individuals to bid for a franchise. However, in case of an individual or company, that particular entity’s annual turnover should be minimum INR 3000 crore and in case of 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 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).
“So the economics will work accordingly as franchises get the TV revenue share equally,” a BCCI insider tracking the developments told PTI on conditions of anonymity.
For the record, Goenka owned the Pune Franchise Rising Pune Supergiants (RPS) for two years and is also the owner of ISL franchise ATK Mohun Bagan.
There has been buzz that Lancer group, which is owned by Manchester United owner Avram Glazer, has also picked up the bid document. Other notable companies are Kotak group, Aurobindo Pharma and Torrent group. (PTI)