BCCI set to complete the sale of two new IPL franchises for next edition by July end: Reports

It has been reported that BCCI are very keen to finish the whole process and finalize the two new teams before the second phase of IPL 2021 begins in UAE.

Rohan Gulaty Author

Updated - 28 June 2021 8:12 pm

With IPL 2021 set to resume in October in UAE, BCCI have finally shifted their attention to future plans. The board had revealed that two new IPL franchises are set to feature from 2022 onwards but the COVID-19 pandemic had affected the process of tendering with everything getting postponed. However, as per latest reports, the governing council has decided to release the tender next month to get two new owners on board with two new franchises.

Base price for new franchise could be as high as 250 million

An IPL franchise has become a very prized asset nowadays with the value of teams estimated around Rs. 2000 crores. There is a reason that IPL is called a cash-rich league as a lot of money is involved. With the tender set to be out in July, a CEO of a big company talked about the possible base price for the same.

He said, "We understand the tender will be floated next month, we have been waiting for this for quite some time. We will not be surprised if 250 million is the base price." A lot of high-profile names have reportedly shown interest in buying an IPL franchise in past and they could be in action next month.

Also Read: 5 Business Tycoons who can buy 2 Teams ahead of IPL 2022

BCCI could finalize the new teams before IPL 2021 resumption

It has been reported that BCCI are very keen to finish the whole process and finalize the two new teams before the second phase of IPL 2021 begins in UAE. It could be because of the fact that a mega auction will also need to be scheduled ahead of next edition. And with 10 franchises involved, the governing council will need to make all the arrangements in less than 6 months after the conclusion of IPL 2021. This is why the two new franchises could come on board as early as by July end.