IPL New Teams Bidding LIVE: Sanjeev Goenka’s RPSG Group & former F1 promoter CVC Capitals bags new IPL franchises : follow LIVE Updates

IPL New Teams Bidding LIVE: Sanjeev Goenka's RPSG Group & former F1 promoter CVC Capitals bags new IPL franchises : follow LIVE Updates
IPL New Teams Bidding LIVE: Sanjeev Goenka's RPSG Group & former F1 promoter CVC Capitals bags new IPL franchises : follow LIVE Updates

IPL New Teams TenderBidding for 2 IPL Teams Over: Sanjeev Goenka’s RPSG Group & former F1 promoter CVC Capitals has bagged new IPL franchises. RPSG has got Lucknow franchise & CVC Capitals surprised favorite Adani Group to bag Ahmedabad franchise.

New IPL teams: Sanjiv Goenka-owned RPSG group claims Lucknow franchise with over Rs 7,000 crore bid.

  • The RPSG Group have picked Lucknow as their home base with a winning bid of INR 7090 crores
  • CVC Capital have opted for Ahmedabad with a bid of INR 5625 crores.
Sanjeev Goenka to InsideSport: Your first reaction Mr. Goenka?
 
‘Extremely happy to make a comeback to IPL. It was quite a long wait. We have planned so much for this bid. I am thankful to everyone involved in the bid. It’s just amazing to be back
 
7,090 Cr isn’t this too much?
 
‘When 1st 8 teams were bought same things was said about those investments. Look where they are today. And most importantly we have done our maths correctly, we are happy with this
 
Will you be at some disadvantage while making new squad?
 
‘No we are confident BCCI will bring us at par with previous owners. We should not be with any kind of disadvantage. And mind you we have a experience of raising & making brand new team in a similar situation when we made Rising Pune Supergiants. That experience will keep us in good stead. 
 
Know the New Owners:
 
RPSG GROUP – Sanjeev Goenka: The RPSG group previously owned the Rising Pune Supergiant (2016 and 2017) team that played two seasons when CSK and Rajasthan Royals were banned. They will now move to Lucknow’s Bharat Ratna Shri Atal Bihari Vajpayee Stadium – a shiny-new venue that was opened to the public only in November 2018 and can accommodate around 50,000 people.
 
CVC Capital: CVC capital is one of the biggest sports investors globally. They were previous stakeholders in Formula 1 and recently took a minority-stake in La Liga, the top-flight football league of Spain & also own substantial stake in World Volleyball & various other sports venutes. Their home will be the world’s largest cricket stadium, the Narendra Modi Stadium, that has an advertised capacity of 132,000 people.

 

IPL New Teams Bidding LIVE: Sanjeev Goenka’s RPSG Group & former F1 promoter CVC Capitals bags new IPL franchises : follow LIVE Updates

@7:30PM: CVC Capital gets Ahmedabad / Sanjeev Goenka’s RPSG Group gets Lucknow franchise.

@7:05PM: Lucknow / Ahmedabad the two frontrunner cities for the IPL franchises – Financial Bids are getting opened now

@5:45PM: IPL New Teams Bid LIVE – Manchester United owners Glazer Family’s BID is technically approved – they are bidding under the banner of LANCER GROUP.

As per available information, 10 Parties – out of which RHITI SPORTS Bid was disqualified was not considered as submitted becuase it was late by few minutes.

For rest of the 9 bids technical EVAL in progress.

@5:00PM – IPL New Teams Bid LIVE – Technical Evaluation of the BIDS is getting longer – RACE PRIMARILY is for 3 cities as per available information

  • Ahmedabad Franchise – Adanis / Torrent Pharma / PE Equity Firm
  • Lucknow Franchise – RPSG Goenka / Aurobindo Pharma / Lancer Group Glazer Family
  • Cuttack Franchise – Naveen Jindal / CVC

Dharamsala, Guwahati and Indore are the other cities but InsideSport could not get any info if any of the 10 bidders have bidded for these cities.

@4:00PM: IPL New Teams Tender – BCCI has disallowed MS Dhoni’s Ex-Manager Arun Pandey to submit his BID. He turned up late to the BIDDING hall & missed the BIDDING Submission DEADLINE by few minutes

@3:00PM: Kotak Group Submits Bid: Along with Adani & Goenka, Kotak Group headed by UDAY Kotak has also submitted bid for the NEW IPL Team.

@2:45PM: IPL New Teams Bidding LIVE Updates – BIDS Paperwork is getting scrutinised by BCCI at this stage

    • 10 Bids Submitted
    • BCCI Legal & Financial team now checking paperwork & other requisites
    • Only if Bidders clear technical eligibility – Financial BID Envelope will be opened
    • BCCI will 1st check all 10 BIDS for TENCHNICAL Eligibility / will ask ineligibile bidders to leave the ROOM
    • Financial BIDS for all qualified BIDDERS will be opened in front of everyone.
    • The WINNER of the BIDS can either be announced today or even can be postponed for tomorrow.

 

@2:00PM: 10 Parties Submit IPL TEAM BIDS – Naveen Jindal’s Submits his bid: Prominent Steel baron & former MP Naveen Jindal has also submitted bid for the Cuttack franchise.

English club Manchester United, the Adani Group, Torrent, Hindustan Media Ventures Pvt Ltd, RP-SanjIv Goenka Group, Capri Global and one Singapore based Irelia Company Pte Limited have submitted bids

@1:45PM: 10 Parties Submit Bids for 2 New IPL Teams – Prominent names like Adani, Goenka, Naveen Jindal all submit bids to BCCI – Technical Evaluation of all 10 Parties will take few hours, it looks like WINNERS are UNLIKELY to be announced today…..

@1:35PM: 10 Parties Submit Bids for 2 New IPL Teams – BCCI and their lawyers are now doing the TECHNICAL Evaluation of the submitted BIDS

Once parties clear the TECHNICAL ROUND – Financial BIDS will be opened.

@1:30PM: Bidding Base Price: Minimum bid price as stated in the tender is INR 2000 crore – approximately $275 Million 

PRIMARY & SERIOUS CONTENDERS

  • Gautam Adani – Adani Group / Torrent Pharma – Bidding as Consortium
  • Sanjeev Goenka, RPSG Group
  • Naveen Jindal Cuttack Franchise – Jindal Steel
  • Glazers Manchester United Owners
  • CVC Capital:
  • Capri Global

Overall total 22 Tenders were picked

  • Sanjeev Goenka – Promoters of RPSG
  • Glazer Family – Manchester United Owners
  • Adani Group promoters
  • Naveen Jindal – Jindal Power & Steel
  • Torrent Pharma
  • Ronnie Screwvala
  • Aurobindo Pharma
  • Kotak Group
  • CVC Partners
  • Singapore Based PE Firm
  • Hindustan Times Media
  • Broadcast & sports consulting agencies ITW,
  • Group M
  • Capri Global
  • Deepika-Ranveer backed by a leading corporate
  • Rajesh & Ajay Gupta – South African Business Tycoon

@1:05PM: IPL New Teams Tender – First Technical Eval of the BIDS & once they clear that Financial BIDS will be opened.

The BCCI is expected to announce the new owners today or sometime tomorrow.

@12:45PM: BCCI expecting 8,000 to 10,000 Cr for two new IPL Teams: Just check, when team were 1st sold in 2008 – how much each team went for?

The winning bids – 2008 PRICE for Each Franchise
City Franchise Owner Cost (in US$ millions)
Bangalore Vijay Mallya’s UB group 111.6
Chennai India Cements 91
Delhi GMR Group 84
Hyderabad Deccan Chronicle 107
Jaipur Emerging Media-led consortium 67
Kolkata Shah Rukh Khan’s Red Chillies Entertainment 75.09
Mohali Preity Zinta, Ness Wadia, Karan Paul and Dabur’s Mohit Burman 76
Mumbai Mukesh Ambani’s Reliance India Limited 111.9

 

@12:38 – Pragyan Ojha With the chairman Brijesh Patel & another IPL GC Member 

@12:34 – Just some more time to go as BIDDING process for new IPL teams starts

 

@10:00 AM: Manchester United Owners arrives in Dubai: If someone did not believe the news that Manchester United owners i.e Glazer family is vying for a Indian Premier League team, all doubts for them should be cleared now. As the D-day to select the two new IPL is upon us, the owners of Manchester United are in the UAE to try and ensure they get to own one team in the cash-rich league – For more details – Manchester United owners arrive in Dubai as…

IPL New Teams Tender: 11 AM Bid process starts, Adani & Goenka frontrunners for new IPL teams, follow LIVE Updates

InsideSport spoke to top BCCI official in Dubai – who admitted it will be difficullt the complete bidding process on Monday.

“See, we have to go according to the process and then only it can be determined when the teams can be announced. We have received interests from many companies and individuals and it will take time to go through it all. I can’t say for sure that we can announce the two new teams on Monday. We will have to complete the process and only then there will be clarity, process starts at 11 AM on Monday” informed the senior BCCI official in Dubai.

The process to finalize & select the new IPL teams?

  • At 11 am on Monday, closed bids will be submitted in front of the office-bearers of the BCCI in Dubai.
  • 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.
  • By end of the day new franchsie owners can be announced

IPL New Teams Tender: Deepika Padukone, Ranveer Singh backed by big…

IPL New Teams Tender: Former Formula 1 owner CVC partners, Manchester…

IPL New Teams Tender: BCCI admits to InsideSport ‘will be difficult to complete process for new teams on Monday’

As their is a long list of parties in fray, the Board is expecting huge upside from the base price of 2,000 Cr. The number can almost be doubled for each team from its base-price & BCCI can collectively earn between 7000-9000 Cr from the sale of two franchises.

The long list of high-profile aspirants includes –

  • Sanjeev Goenka – Promoters of RPSG
  • Glazer Family – Manchester United Owners
  • Adani Group promoters
  • Naveen Jindal – Jindal Power & Steel
  • Torrent Pharma
  • Ronnie Screwvala
  • Aurobindo Pharma
  • Kotak Group
  • CVC Partners
  • Singapore Based PE Firm
  • Hindustan Times Media
  • Broadcast & sports consulting agencies ITW,
  • Group M
  • Deepika-Ranveer backed by leading corporate

IPL New Teams TenderWho are the serious contenders? There are 22 companies which have picked up tender document worth Rs 10 lakh but with base price for new teams pegged at INR 2000 crore, there is expected to be only five to six serious bidders in fray.

Gautam Adani – Adani Group / Torrent Pharma: One of India’s richest business tycoons Gautam Adani and his Adani Group are expected to bid for the Ahmedabad franchise in partnership with Torrent Pharma. Both have formed consortium & are frontrunners to buy Ahmedabad franchsie.

Sanjeev Goenka, RPSG Group: Similarly, RPSG group which is headlined by billionaire Sanjiv Goenka are also considered to be serious bidders for a new franchise. Whether RPSG would have any individual or other company as a part of consortium is still not known.

“Gautam Adani and Sanjiv Goenka are the biggest names in the Indian industry. They will be serious bidders. Expect a minimum bid of INR 3500 crore from the potential bidders. Don’t forget that IPL broadcast rights is projected around USD 5 billion (Rs 36,000 Crore), a BCCI insider tracking the developments told PTI on conditions of anonymity.

For the record, Goenka owned the Pune Franchise Rising Pune Supergiants (RPS) for two years and is also the owner of ISL franchise ATK Mohun Bagan.

Naveen Jindal Cuttack Franchise: Industrialist Naveen Jindal is learnt to have approached the state of Odisha to partner with the Naveen Patnaik-led government for a franchise in Cuttack – and is likely to go very agressive in the bidding.

CVC Capital: They who owns stakes in La Liga, World Volleyball and various other sports ventures globally & is expected to put up a aggressive bid for the team.

Capri Global, a financial services company in partnership with a Chennai-based private company.

IPL New Teams Tender: BCCI admits to InsideSport ‘will be difficult to complete process for new teams on Monday’

Which Cities are in fray for New IPL Teams? The two cities that are favourites in terms of stadium capacity are Narendra Modi Stadium in Motera with more than 100,000 capacity while the other is Ekana Stadium in Lucknow with 70,000 capacity.

The other cities in the hunt are Indore, Guwahati, Cuttack, Dharamsala and Pune.
Former India cricketer may join one of the consortium.

A former India opener may join one of the consortiums which is expected to be serious bidders for the new franchises.

“Yes, a former India opener is ready to shell out around INR 300 crore and buy a minority stake if the consortium he is part of is able to successfully bid for a new team. He comes from a business family and he does want to invest in a cricket team.

“He is a distinguished player in his own right and also understands how the franchisee universe works,” the BCCI source said.

*With Inputs from PTI