BCCI sets Rs 2,000cr base price for two new IPL teams

The IPL, which is currently an eight-team tournament, will become a 10-team affair from the next edition and during a recent governing council meeting, the modalities of the bidding process were chalked out

The Indian cricket board could soon get richer by at least Rs 5,000 crore with the addition of two new franchises during the 2022 edition of Indian Premier League.

The IPL, which is currently an eight-team tournament, will become a 10-team affair from the next edition and during a recent governing council meeting, the modalities of the bidding process were chalked out.

The BCCI on Tuesday also invited bids to own an IPL franchise with Invitation to Tender available for purchase till October 5. “Any company can buy the bid document paying Rs 10 lakh. Earlier top brass was thinking about keeping the base price for two new teams at Rs 1,700 crore but later it was decided to keep the base price at Rs 2,000 crore,” a senior BCCI source said.

The source said that the BCCI stands to gain at least Rs 5000 crore if the bids go as per plan with plenty of large business conglomerates showing active interest in bidding.

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