BCCI to get richer by ₹5,000 crore after inclusion of 2 new IPL teams in 2022

The Board of Control for Cricket in India (BCCI) could soon get richer by more than ₹5,000 crore with the addition of two new franchises in the Indian Premier League in 2022.

The IPL, which is currently an eight-team tournament, will become a 10-team affair from the next edition, and during a recent governing council meeting, the modalities of the bidding process were chalked out.

“Any company can buy the bid document after paying ₹10 lakh. Earlier top brass was thinking about keeping the base price for two new teams at ₹1,700 crore but later it was decided to keep the base price at ₹2,000 crore,” a BCCI official said.

The source, who has dealt with the financial side of IPL in the past, said that the BCCI stands to gain at least ₹5,000 crore if the bids go as per plan with plenty of large business conglomerates showing interest in bidding.

“The BCCI is expecting anything in the range of ₹5,000 crore, if not more. There will be 74 IPL games next season and it’s a win-win situation for everyone,” the official said.

It is learnt that only companies with an annual turnover of ₹3,000 crore will be allowed to bid for the teams.

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The BCCI is planning to allow a consortium to bid for teams as it makes 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 want to jointly bid for a team, they are welcome to do so,” the official said.

The venues are expected to be based in Ahmedabad, Lucknow and Pune. 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.

The current edition of the IPL will resume from September 19 in the UAE and will continue till October 15. The tournament was suspended midway on May 4, during the second wave of COVID-19 in India, after several players and support staff tested positive for the virus.

(With inputs from Agencies)