Adani and Goenka groups in contention as BCCI expects bids up to Rs 10,000 crore for two new IPL teams

The IPL 2022 mega auction will see two new teams bidding for the players and the reports of two new teams joining the world’s richest T20 league is doing rounds for quite some time now. However, the process of the same is all set to begin on October 25 and in the same context, BCCI is expecting the new franchises to go for Rs 7000 crore to Rs 10000 crore each.

It is yet not clear when will the BCCI open the names of two final bidders as the technical evaluation round is still in process. As per the reports, there were 22 companies that picked the tender documents estimated at around 10 lakh but since the base price has shot up, there are only a handful of companies in contention now.

BCCI has fixed the base price for the new team at INR 2000 crore 

The base price for the new team is fixed at INR 2000 crore and now only 5-6 bidders are in contention and BCCI is only allowing three companies/individuals to bid for the franchise. Talking about the eligibility to stand in the line of bidders, a company/individual should have an annual turnover of INR 3000 crore and an annual turnover of 2500 is expected in the case of consortium.

In the same line of developments, one of India’s richest businessmen Gautam Adani (Adani Group) is deemed as favourites to bid for the Ahmedabad franchise. On the other hand, Sanjiv Goenka who owns the RPSG group is also in the line of serious contenders to bid for a new franchise. It has to be noted that Goenka earlier owned the Pune team named Rising Pune Supergiants for two years and also stands to be the owner of ISL franchise ATK Mohun Bagan.

“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 are projected around USD 5 billion (Rs 36,000 Crore). So, the economics will work accordingly as franchises get the TV revenue share equally,” said a BCCI inside as quoted by The Indian Express.