IPL AUCTION: The Indian Premier League has witnessed 13 seasons since the inception of the tournament. The 14th edition took place in India before it was postponed due to the coronavirus pandemic.
The second leg of the IPL has been shifted to the Gulf nation and it commences on September 19. The rest of the 31 fixtures will be held in the UAE. Meanwhile, a new development has taken place in IPL.
As per the recent reports of Cricbuzz, the auction for the 2 new IPL teams will kick off on October 17. Given that the day is just two days after the IPL final, there is a possibility that the bidding could happen in one of the Middle East cities.
The report adds that BCCI notified the potential bidders of three key dates. Those three dates are none other than September 21, October 5, and October 17 respectively. It is also confirmed that the e-auction will not be held this time.
At the moment, the league has as many as eight teams and each team gets to play the first and second leg. This means that overall, each team plays 7 home and 7 away fixtures.
In the revised situation, due to the absence of a larger window, there is a possibility that the BCCI will stick for 14 games which will lead to 74 games.
How about the financial requirements?
BCCI clarified that each bidder needs to have a net worth of INR 2500 crores and the company should comply with minimum requirements. The company has to have a turnover of INR 3000 crores.
Moreover, BCCI will permit only three partners and one of them has to satisfy the above criteria of having a net worth of INR 2500 crore and INR 3000 crore turnover. As per the reports, the base price is INR 2000 crores.
The teams will be required to pay 10% of the franchise fee each season for a decade. It will be entitled to a 50 per cent revenue share. Post the 10-year period, the franchises will have to pay 20 per cent of their income.
They will continue to receive 50 per cent of the central pool of revenue after every IPL season. Meanwhile, Sanjiv Goenka of the RPSG Group is believed to have bought the ITT document for the new IPL franchise.
Sanjiv Goenka of the RPSG Group earlier owned the Pune franchise for a couple of years. Goenka is likely to buy the Lucknow team. Meanwhile, Delhi Capitals are on top of the IPL 2021 points table.
Chennai Super Kings are second in the table. Royal Challengers Bangalore and Mumbai Indians follow next. CSK will lock horns with MI on September 19 (Sunday).