Punjab Kings co-owner in a recent interview welcomed the addition of new teams in IPL, saying it will add a new dimension to the league and bring wider viewership. He also went on to make a big claim on the financial front. Wadia said that the two new teams, which will be announced by BCCI on October 25, is likely to be sold for Rs 3,000 to 3,500 crore.
“The value of each of the new teams should be 50 to 75% more than the base price of Rs 2000 cr. I think each team would go for a minimum of 3,000 to 3,500 cr,” Wadia told The Times of India.
Ness Wadia also shed light on upcoming mega auctions and how many players from each franchise would be allowed for retention as two new teams join the cash-rich league.
“It (the mega player auction) should be fair and equitable, especially to the two new teams coming in. I’m looking forward to seeing what happens from that perspective,” he said.
The Indian board was earlier surprised with the interest tender is generating & expect bid to go north of 3500 Cr.
“The interest for the new teams is better than expected. We are surprised by the response. We expect bid to go above 3500 Cr range for each team”, said one of the top BCCI official.
According to information available on insidesport.in, 12 parties have expressed their interest and still few can join the fray as the last date of purchase is October 10.
The parties who have bought tender documents include the likes of Sanjeev Goenka of RPSG Group, Aurobindo Pharma, Torrent Pharmaceuticals, Broadcast & sports consulting agencies ITW, Group M, Consortiums of Singapore based Private Equity Firms & few other parties.
One party can bid for two cities with Ahmedabad, Lucknow, Indore, Cuttack, Guwahati and Dharamsala shortlisted for the two new teams.
The teams will be liable to pay 10% every year for 10 years and 20% after 10 years. In exchange, BCCI will be sharing 50% of revenue from the central pool after every season.