The BCCI expecting Rs 5000 crore revenue with the addition of two new franchises in IPL

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The Board of Control for Cricket in India, also known as BCCI is the richest board in World cricket. The Indian cricket Board can get richer by at least Rs 5000 crore with the addition of two new franchises during the 2022 edition of Indian Premier League (IPL) . 

BCCI

The IPL is currently an eight-team tournament. However, it is set to become a 10-team affair from the next edition. During a recent governing council meeting, the modalities of the bidding process were chalked out. Companies with an annual turnover of Rs 3000 crore will be allowed to bid for the teams.

BCCI keeps the base price for the new teams at Rs 2000 Cr.

A senior BCCI source told PTI that any company can buy the bid document paying Rs 75 crore. Earlier, the top management were keeping the base price for two new teams at Rs 1700 crore. However, it was decided to keep the base price at Rs 2000 crore.

The anonymous source has dealt with the financial side of IPL in the past. He revealed that the BCCI stands to gain at least Rs 5000 crore if the bids go as per plan with plenty of large business conglomerates showing active interest in bidding.

“The BCCI is expecting anything in the range of 5000 crore if not more. There will be 74 IPL games next season and it’s a win-win situation for everyone.”

In order to make the bidding process more vibrant, BCCI is planning to allow a consortium to bid for teams. “I think more than three business entities won’t be allowed to form a consortium but if three business come together and want to jointly bid for a team, they are welcome to do so,” he said.

Reportedly, the venues where the teams could be based include Ahmedabad, Lucknow and Pune. The Narendra Modi Stadium in Ahmedabad and Ekana Stadium in Lucknow have bigger capacities. Hence, they could be the choice for franchises

Some prominent names that have shown interest in buying the new IPL teams include the Adani group, RPG Sanjeev Goenka group, noted pharma company Torrent and a prominent banker.

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