After Pakistan’s dominating win over India in Dubai, the action now shifted to a bunch of investors, as they are bidding for the two new franchises for the Indian Premier League (IPL). At 11 am on Monday, closed bidding has started in front of the office-bearers of the BCCI in Dubai, and individuals who have been officially appointed by their companies/consortiums to represent them at the bidding will enter a room where the bids will be opened.
Either the Adani Group or the Torrent Group from Ahmedabad will submit a bid, not both. Although, there are some rumors predicting that both teh companies will come together with a joint bid. RP-Sanjiv Goenka Group is all set to submit a bid with a high number to own one of the two franchises.
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According to the reports of Times of India, the Glazer family – the owners of Manchester United – interested and it can be confirmed that the US-based club owners arrived in Dubai on Sunday and are ready with the bid document. Apart from them, Industrialist Naveen Jindal is looking to buy a franchise. If Jindal manages to submit a winning bid, one of the sources of TOI says: “the government of Odisha will wholeheartedly back the franchise in Odisha as it has backed every other sport over the last many years.”
The stage is set! 👍 👍
Bidding for the 2⃣ new IPL teams to commence shortly! pic.twitter.com/Vsu58ZA83d
— BCCI (@BCCI) October 25, 2021
Capri Global and leading private equity players CVC Capital are interested in bidding for the two new IPL franchises. Hindustan Times Media, another US-based private equity firm, and some other bankers and entrepreneurs too had picked up the tender document but there’s been no confirmation if any individual or company outside of the above-mentioned names will come to the table. Having said all that, the Torrent Group from Ahmedabad and the RP-Sanjiv Goenka Group continue to be hot favorites to own the franchises.
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Ahmedabad, Lucknow, Indore, Cuttack, and Guwahati will be expected to become the top contenders in terms of the possible home grounds for the franchises. Once all bids are submitted, the BCCI will go through the terms of reference, and the winners will be declared after all the conditions are met. The winners will go on to own the franchises till the tournament will continue.
Describing the same one of the sources of TOI in the BCCI said, “Anybody coming to the bid table will expect to know the value of all the other bidders, irrespective of the winning bid.”
