Who is buying 2 new IPL teams – Amitab Bachan, Adani, Muthoot Group, Hero Honda, Sharad Pawar ? – New Franchise teams for IPL 4

One of the richest cricket body in the world – IPL, is planning to increase the franchise teams from 8 to 10 for the next IPL season – IPL 4, 20111. The run away success story of IPL has made Indian Cricket Story an incredible one. With millions of cricket following fan base IPL has identified new budding talents in the country. Not just that, IPL has unveiled a new business segment in the indian soil. IPL first season started with 8 franchise teams and the base price was at USD 50 million each.

Modi said on his Twitter page recently said that tender forms could be collected from the BCCI/IPL office from February 21 and the bids would be opened on March 8 in Mumbai. There by, two new Indian Premier League franchisees will be unveiled on March 8.

Ahmedabad, Nagpur, Kanpur, Dharamshala, Indore, Cuttack, Gwalior and Visakhapatnam are the current cities with stadiums that can have bids for. Each tender form costs 5 lakhs and many media mughals in the country have been eyeing on these two new franchise for long time. IPL committee is expecting around 25 bids for this 2 new teams. Some of the companies, PE funds, media persons who have expressed their interest in the new teams are ..

1. Videocon Industries

2. Sahara Group

3. ICICI Ventures

4. Marylebone Cricket Club (UK)

5. Salman Khan

6. Amitab Bacnah

7. Ajay Devgan

8. Adani Group *

9. Muthoot Group (Kerala based financial services) *

9. Hero Honda *

10. Sharad Pawar *

But, IPL is aiming high with its 2 new teams and has proposed strict bid rules. Each new IPL team is base priced at USD 225 million (~ Rs. 1040 crores ). Yeah, in just 3 years, IPL team base price have multiplied by 3 times. Also, Bidder networth should be over $1 Billion (~ Rs. 4500 crores). Also, interested parties should submit a bank guarantee of Rs. 460 crores to participate in the bidding process. These rules made many of the above interested parties to back out and it is heard that only four bidders are in the race now for the 2 new teams are starred in the above list.

Here are the existing teams and their owners :

1. Mumbai – Mukesh Ambani’s Reliance Industries Limited

2. Delhi – GMR Group

3. Kolkata – Shah Rukh Khan’s Red Chillies Entertainment

4. Chennai – India Cements / N Srinivasan

5. Bangalore – Vijay Mallya / UB group

6. Hyderabad – Deccan Chronicle

7. Mohali – Preity Zinta, Ness Wadia (Bombay Dyeing)

8. Jaipur – Emerging Media – Shipa Shetty & Raj Kundhra

Going by the 2 new teams base price and the strict rules for bidders, Lalit Modi is definitely re-defining the sports business in India. We gotta wait till March 8th to know the winners of the 2 new IPL team franchisees. Stay tuned !