BCCI official hints at base price for new teams in IPL 2022

The Indian Premier League is the prized commodity of the Board of Control for Cricket in India (BCCI). The franchise-based tournament, which usually takes place in the summer months of March, April, and May in India allows the BCCI to rake in massive revenue every year. It is no secret that Star India had acquired the IPL broadcast right for a gigantic sum of 16347.5 Crores.

It is also reported that the BCCI has earned an unimaginable sum of Rs 4000 Crore by conducting the 13th edition of the IPL in the UAE in the middle of a raging pandemic. Now, it has been reported that the BCCI is planning to add two more teams to the fray from the 2022 edition of the IPL. While the BCCI was mulling to do so for the 2021 edition itself, the lack of time has been cited as the reason why the BCCI pushed it to 2022. It has also been tentatively fixed that the tenders will be released by April 2021.

A BCCI official has also said that the base price of the new IPL teams will be nothing less than 1500 Crores. The official also added that ownership of an IPL team is a very ‘prized asset’. The official also revealed that the matter was discussed in the BCCI AGM meeting informally.

“Nothing has been officially discussed about the base price as yet. But during BCCI AGM we discussed the matter informally. Ownership of IPL team is now a very prized asset and we feel the base price for the new IPL team will be nothing less than 1500 Cr or probably more,” the official said as quoted by Inside Sport.

It is not farfetched: BCCI official

The BCCI official has also added that the price of 1500 Crores is not far fetched by any means. He also added that the JSW Company had obtained a 50% of the Delhi Capitals side for a staggering sum of Rs 1100 Crores. He also added that the valuation of the IPL teams has been increasing with every edition.

“IPL GC will decide the base price and tender timelines. In 2018, JSW took 50% of Delhi Capitals (At that time Delhi Daredevils) at a valuation of 1100 Cr. We know the valuation for the teams are increasing by every edition. Moreover, our new Media Rights tender is due, it will further enhance the valuation for teams. So base price of 1500-1600 cr is not farfetched,” added the official.

It would be interesting to see which of the top business conglomerates in India would throw their hat in the ring for the two IPL franchises.