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Auction for new IPL teams will be in May 2021

Auction for new IPL teams can be held in May.

BCCI has already announced that 2 new teams will be added to the Indian Premier League from 2022. As per some reports, the tenders for the new IPL teams are likely to be released by April, and the base price is expected to exceed 1500 Cr.

A few months back, a BCCI official said: “Nothing has been officially discussed about the base price as yet. But during BCCI AGM, we discussed the matter informally. Ownership of the 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.”

“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 is increasing with every edition. Moreover, 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.”

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However, as per the recent report, the auction is expected to be held in May. The BCCI officials including president Sourav Ganguly, secretary Jay Shah on Saturday had a meeting to discuss about the policy decisions approved by the IPL Governing Council at the start of the year.

“The 10 team IPL will roll on from next year and the bidding process and finalization of the new franchises will be completed by the month of May this year.”- A BCCI official revealed.

“Once the teams are finalized, they can start their operational work which takes considerable time.”- he added.

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Rishab Chakladar
Rishab Chakladar
An ordinary person with some extraordinary ambition! Dream big with a 'Never Give Up' attitude. Music, Sports, and Gaming in life♥️
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