IPL New Team: BCCI official to InsideSport, ‘base price for new IPL teams nothing less than 1500 Cr’

IPL New Team Base Price: The Board of Cricket Control of India (BCCI) has already announced that the IPL 2022 will add two more teams to its roster. The process to draft the new IPL teams for 15th edition of the league is yet to start. As per the information available with InsideSport, the tenders for the new IPL teams are likely to be released by April.

The big question in front of BCCI and IPL Governing Council is – what will be the floor price for the new IPL teams. InsideSport tried reaching out to some of the concerned BCCI officials and checked what will be the base price for the new IPL teams. One of the BCCI official told InsideSport that, ‘the base price for the new IPL teams will be nothing less than 1500 Cr’

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‘Nothing has been officially discussed about the base price as yet. But during BCCI AGM we discussed the matter informally. Ownership of IPL team is now a very prized asset and we feel the base price for the new IPL team will be nothing less than 1500 Cr or probably more’, told the BCCI official to InsideSport.

InsideSport further checked, how exactly the base price for new IPL teams will be determined and when the tenders will be released ?

‘IPL GC will decide the base price and tender timelines. In 2018, JSW took 50% of Delhi Capitals (At that time Delhi Daredevils) at a valuation of 1100 Cr. We know the valuation for the teams are increasing by every edition. More over our new Media Rights tender is due, it will further enhance the valuation for teams. So base price of 1500-1600 cr is not far fetched’, said the senior BCCI official.

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It is worth noting that when initially the first 8 teams were sold in IPL in 2008, the base price was USD 50Mn (Dollar was capped at Rs 35)

Mumbai Indians was sold to Ambani’s for $111.9 Mn
RCB at $111.6 Mn
Deccan Chargers went at $107 Mn
CSK was sold at $91 Mn
Delhi Daredevils – $84 Mn
Kings XI Punjab – $76 Mn
Kolkata Knight Riders – $75.09 Mn
Rajasthan Royals was the cheapest team at $67 Mn

*What is the floor price ? Floor price is the minimum value on which BCCI will ask the potential bidders to bid for the team. It is yet not clear whether BCCI will opt for e-tendering to select the new teams or will they release physical tenders.

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IPL 2022 to have 10 teams : New IPL teams will be based out of which cities ?

According to the information available with InsideSport, the city of Ahmedabad will be the front runner for one of the new IPL team. But the fight for the 2nd slot will be fierce as multiple cities are likely to vie for the IPL franchise. As per the sources, IPL GC will release tender and 8 to 10 cities will be given as options to the potential bidders. Ahmedabad, Pune, Lucknow, Kanpur, Guwahati, Indore, Kochi, Raipur and Trivandrum will be some of the cities that will be in contention for two slots.

According to reports doing the rounds since October 2020, Adani Group owned by Gautam Adani and RPSG owned by Sanjeev Goenka will be the biggest contenders for the new IPL teams. Adani’s in past have openly declared their interest in owning the IPL team. With Ahmedabad now boasting of the biggest cricket stadium in the country, their interest will grow manifolds.

On the other hand, Goenka had owned IPL team in the past as an owner of Rising Pune Supergiants for two years and will surely throw their hat in the ring when BCCI comes out with tender.

Recently city of Guwahati also has decided to throw their hat in the ring. According to a report in local media, Assam Cricket Association secretary Devajit Lon Saikia has confirmed that the city of Guwahati will be interested to own IPL team.

Other than this interest at various junctures has also come in from various business houses down South. The rumours about Malayalam actor Mohanlal’s interest in owning the IPL team along with big business house surfaced recently. Mohanlal was also spotted in the stadium for the Mumbai Indians vs Delhi Capitals match in the IPL 2020 final.