The Board of Control
for Cricket in India (BCCI) is expected to pocket up to Rs 5,000 crore from the
two new franchises set to be introduced in the 2022 edition of the Indian Premier League
(IPL). The base price for the new teams has been set at Rs 2,000 crore, in
addition to the Rs 75 crore a company has to pay the board to purchase the
bidding documents.

“Any company can buy
the bid document paying Rs 75 crore. Earlier top brass was thinking about
keeping the base price for two new teams at Rs 1700 crore but later it was
decided to keep the base price at Rs 2000 crore,” a senior BCCI official told
PTI on the condition of anonymity.

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The cash-rich league  will feature ten teams starting next season, and the modalities of the
bidding process were formalised during a recent meeting of the board’s
governing council, PTI reported.

A number of companies have
already showed interest in bidding for the teams, the source – who has dealt
with the financial aspects of the IPL in the past – confirmed, adding that the board
could receive up to Rs 5,000 crore if the bid process goes to plan.

“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.”

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He said that companies
with a minimum annual turnover of Rs 3,000 crore will be allowed to place bids.
The BCCI is also planning to allow a consortium to bid for teams in order to
make the bidding process more vibrant.

“I think more
than three business entities won’t be allowed to form a consortium but if three
business come together and wants to jointly bid for a team, they are welcome to
do so,” he said.

Among the venues where
the teams could be based include Amedabad, Lucknow and Pune.

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The Narendra Modi
Stadium in Ahmedabad and Ekana Stadium in Lucknow, with bigger capacities,
could be the choice for franchises.

Some of the names that
are doing the rounds include the Adani group, RPG Sanjeev Goenka group, noted
pharma company Torrent and a prominent banker who has shown active interest in
buying teams.