Sahara, Adani Group, Videocon might bid for two new IPL teams 2
The Indian Premier League will expand the number of franchisees to 10 franchisees with the addition of two new franchisees for the IPL 2011 season onwards. The IPL Management has already put application forms for the two new teams on sale. There are twelve cities in contention for the two new teams which include Ahmedabad, Nagpur, Kanpur, Dharamsala, Indore, Cuttack, Gwalior, Visakapatnam, Rajkot, Pune, Vadodara and Kochi. The first eight cities already have cricket stadiums while stadiums are in construction in the last four cities. The base price for the bidding for the two new franchisees are $225 million which is more than four times the base price of $50 million when the original eight franchisees were auctioned in 2008. The number of games in IPL would also increase to 94 games from the year 2011 instead of the present set of 59 games.
As per reports, the IPL Management has also set tougher conditions for applying for the two new teams. One of the major conditions is that the bidder has to have at least $1 billion (Rs.4,580 crores) and if a group makes a bid, it must contain an individual or a single party with that amount of money. As per the IPL’s tender condition, the bidders should submit a Rs 460-crore bank guarantee to participate in the bidding process. The IPL has set a base price of US $ 225 million per franchise. Many are also speculating that Ahmedabad might be one of the strongest contenders for an IPL team. The Ahmedabad based billionaire Gautam Adani-owned Adani Group has also submitted its bid for a new franchisee.
Videocon Industries-led team called P Sports Vision is supposed to have placed bid for Pune franchisee. There are also reports that the guardians of the laws of cricket, Marylebone Cricket Club (MCC) is also supposed to be running for the Pune franchisee. The other prominent bidders might include Sahara Group, Jaypee Group and ICICI Ventures. Civil Aviation Minister Praful Patel is also speculated to have placed bid for either Pune or Nagpur franchisee. Bollywood stars like Salman Khan, Amitabh Bachchan and Ajay Devgn had also showed interest though there is no confirmation if any film stars have bid for any team this time round. There have been 11 bids supposed to have been submitted till now for the two new teams.
The winning bids for the two new franchisees would be revealed on Sunday, March 7 at 1200 IST. Many are speculating that Pune and Ahmedabad might have good chances of hosting the two new teams though everything would be revealed only this Sunday.