The wealth of the BCCI, the richest cricket board in the world, will continue to grow. The board is expected to get at least Rs 5,000 crore by adding two more franchises for the 2022 IPL.
The IPL, which is currently being played with 8 teams, will become a ten-team league from the next tournament. At a recent governing body meeting, the modalities for the bidding process for the new teams were finalized.
To this end, bids have been invited through a tender process on Tuesday to kick-start the league’s expansion plans. The Invitation to Tender has been made available for purchase till October 5.
“The Governing Council of the IPL invites bids to acquire the right to own and operate new teams proposed to be introduced to take part from IPL 2022 season,” a BCCI statement said.
It is learnt that the base price for the new teams has been set at Rs 2000 crore. As big companies showing interest, the board will get at least Rs 5000. Next year’s IPL will be a 74-match tournament instead of the usual 60. It seems that only companies with an annual turnover of Rs 3,000 crore will be allowed to bid. The board, however, hopes to allow the consortium.