BCCI reportedly wants to complete the sale of two new franchises before IPL The UAE will resume in 2021 and the cricket board will issue a tender in July. Plans to expand the cash-rich league from eight to ten teams have been underway for some time.
According to a report in cricbuzzThe development has been confirmed by the CEO of a firm that is interested in buying an IPL team. “We understand that the tender will be floated next month, we have been waiting for this for a long time. We wouldn’t be surprised if 250 million is the base price,” the CEO was quoted as saying by the website.
Recently, Redbird Capital Partners, a private firm that has invested in a company that owns Liverpool Football Club and the Boston Red Sox baseball team, acquired a 15 per cent stake in IPL franchise Rajasthan Royals. As per reports, the value of the transaction amount is anywhere between USD 250 million to USD 300 million.
The website quoted another source as saying that the valuation of new teams is unlikely to drop due to the pandemic and in fact, the recent developments regarding Rajasthan Royals will only result in good news for the BCCI.
“The key to getting a good price is telling the world that more parties are interested. If a potential bidder finds out that the biggest business houses have bought the tender document, the price will automatically go up. Media plays a big role. How BCCI will manage sales and organize promotions is important.”
IPL 2021, which was suspended midway through the first week of May due to the rising number of coronavirus cases within the franchise, will resume in the UAE.
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