BCCI finalizes base price for two new IPL teams: Reports

IPL will become a 10-team event from next year. As per a report in PTI, the base price for two new teams which will join the league from next year has been kept at INR 2000 crore.

The bidding process is expected to make BCCI richer by at least INR 5000 crore.

"Any company can buy the bid document paying INR 75 crore. Earlier top brass was thinking about keeping the base price for two new teams at ₹1700 crore, but later it was decided to keep the base price at ₹2000 crore," a senior BCCI source told PTI on the condition of anonymity.

"The BCCI is expecting anything in the range of 5000 crore, if not more. There will be 74 IPL games next season and it's a win-win situation for everyone,” the source further revealed.

It’s been reported that only companies with an annual turnover of INR 3000 crore or more will be allowed to bid for a team.

However, the source added that the board can allow maximum of three companies to form a consortium and bid.

Lucknow, Ahmedabad, and Pune are the frontrunners to be the home of the two new teams. And as per a report in Hindustan Times, some of the big names which are interested in bidding include the Adani group, RPG Sanjeev Goenka group, and noted pharma company Torrent.