Four in race of buying new IPL teams for 2022 season, bidding in Oct

Four in race of buying new IPL teams for 2022 season

While the 2021 edition of the Indian Premier League (IPL) isn’t done and dusted yet, the Board of Control for Cricket in India (BCCI) has started preparing for the next season. The 2022 event holds great significance as it will see the gala competition undergoing many changes, including tournament expansion. Two new franchises are set to come into the picture, making IPL a 10-team event.

For the unversed, more than eight IPL teams have featured in a single season before. The 2011 edition had 10 teams fighting for the prestigious title, while the next two seasons saw nine teams in action. IPL was back being an eight-team event in 2014 and has been the same since then. However, the dynamics are set to change again and it would be interesting to see what the transition will result in.

With IPL being one of the most celebrated T20 leagues worldwide, many business tycoons and firms are aiming to buy one of the two franchises next season. According to the Times of India, a tender document for the new teams will be released in mid-August, and following the mandatory formalities, bids will be opened in mid-October.

Many parties keen to buy new IPL teams

The report further revealed the name of four parties interested in buying the new teams. Kolkata-based RP-Sanjiv Goenka Group, the Adani group headquartered in Ahmedabad, Aurobindo Pharma Ltd based out of Hyderabad, and the Torrent Group that operates from Gujarat are understood to be showing interest. There are some other corporate entities and investment advisory firms who are closely studying the case, and might join the race later.

Notably, a mega auction is also set to take place ahead of the auction event which would see many teams going under major revamps. The bidding event will reportedly take place in December later this year and players aiming to get IPL contracts should unleash their best show in the coming months.

With two new teams coming to the fore, more players will have opportunities to ply their trade in IPL. Moreover, it is also reported that BCCI is set to increase the purse amount of each franchise from INR 85 crore to INR 90 crore. Hence, all the team owners have some brainstorming to do ahead of the auction.

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