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It seems that they have also picked up the relevant documents required for the bidding
There is widespread speculation that the Lancer Group, owned by Manchester United boss Avram Glazer, is vying for the two new Indian Premier League (IPL) franchises.
It seems that they also got the relevant documents required for bidding.
The Cricket Control Commission of India (BCCI) expects the prices of the two new IPL franchises to be 7,000 rupees (257,124,000 dirhams) to 10,000 rupees (367,320,000 dirhams), respectively, after the start of the bidding process on Monday.
It is not clear whether BCCI will announce the winning bidder on Monday after the technical evaluation of the bid is completed.
Twenty-two companies received tender documents worth 1 million rupees (AED 3,673,200).
The basic price for the new team is 2,000 rupees (AED 73,464,000) crore.
As many as six serious bidders are competing.
BCCI also allows a consortium of up to three companies/individuals to bid for the IPL franchise.
However, for individuals or companies, the entity’s annual turnover should be at least 3,000 rupees (110,196,000 million dirhams).
In the case of a consortium, the annual turnover of each of these three entities should be 2,500 rupees (91,83 billion dirhams).
Gautam Adani, one of India’s wealthiest business tycoons, and his Adani Group are expected to bid for the Ahmedabad franchise.
Adani Group may eventually become the favorite with the new franchise,
Similarly, the RPSG group led by Indian billionaire Sanjiv Goenka is also considered an important bidder for the new franchise. Whether RPSG includes any individuals or other companies as part of the consortium remains unknown.
“Gautam Adani and Sanjiv Goenka are big names in the Indian industry. They will be serious bidders. The minimum bid for potential bidders is expected to be 3,500 rupees (128,562,000 billion dirhams). Don’t forget that IPL’s broadcasting rights are estimated to be about 500 million. US dollars (183.7 dirhams).
“So, as franchise rights get an equal share of TV revenue, the economy will play a role accordingly,” said a BCCI insider who asked not to be named, following the development.
According to records, Goenka has owned Pune Franchise Rising Pune Supergiants (RPS) for two years and is also the owner of the ISL franchise ATK Mohun Bagan.
Other well-known companies include Kotak Group, pharmaceutical giant Aurobindo Pharma and Torrent Group.
The two most popular cities in terms of stadium capacity are the Narendra Modi Stadium in Modera, which can accommodate approximately 100,000 spectators. The Ekana Stadium in Lucknow can accommodate 70,000 spectators.
Other cities involved in hunting are Indore, Guwahati, Katak, Dharamsala and Pune.
At the same time, a former Indian opener may join one of the consortiums, which is expected to become an important bidder for the new franchise.
“Yes, if his consortium can successfully bid for a new team, then a former Indian opener is prepared to spend approximately Rs 300,928,955 crore and buy a minority stake. He comes from a business family and he really wants to invest in one. Cricket team,” a BCCI source said.
The source added: “He is an outstanding player himself and he also understands how the franchise sector works.” — PTI
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