Mumbai: t20 world cup The game between India and Pakistan was not the only build-up to happen in Dubai in the last 72 hours. A group of investors with strategy and numbers to bid for two new franchises up for sale in the Indian Premier League (IPL)IPL), are busy creating a new chapter as well.
Closed bids were presented before the officials at 11 am on Monday BCCI in Dubai. These bids were to be opened in the presence of persons who were officially appointed by their companies/associations to represent them.
By the end of the day, there will be two new teams in the IPL, increasing the league from eight to 10.
either Adani Group or torrent group Will bid from Ahmedabad, not both. However, there is also some speculation that both the companies may come up with a joint bid. The RP-Sanjiv Goenka Group is all set to place a large number of bids to own one of the two franchises.
TOI had reported about the Glazer family – the owners of Manchester United Interested and can be confirmed that the owner of the US-based club arrived in Dubai on Sunday and is ready with the bidding document.
There are more surprises in store. Industrialist Naveen JindalThose interested in steel and power want to buy franchisees. The 51-year-old businessman, who is also a former Member of Parliament, is understood to have approached the state of Odisha to partner with the Naveen Patnaik-led government for a franchise in Cuttack. If Jindal manages to submit the winning bid, sources say: “The Odisha government will wholeheartedly support the franchise in Odisha as it has supported every other sport, including Indian hockey, over the years”.
Capri Global, a financial services company in partnership with a Chennai-based private company, and leading private equity player CVC Capital are also expected to participate in the bidding process.
Hindustan Times Media, another US-based private equity firm, and a few other bankers and entrepreneurs had also raised the tender document, but there is no confirmation whether any person or company outside the above names will come to the table. All told, the Torrent Group and RP-Sanjiv Goenka Group from Ahmedabad remain the preferred favorites to own the franchise.
Ahmedabad, Lucknow, Indore, Cuttack and Guwahati are in the fray. Once all the bids are submitted, BCCI will go through the Terms of Reference, and if all the conditions are met, and then announce the winner. The excel sheet of the numbers being submitted will be conveniently displayed on the screen inside the bid cell. The winners will be the owners of the franchise forever.
Sources say that the BCCI could have been more clear about its bidding policies than before. For example, most potential bidders have been relatively unaware of how the process will actually go in the context of the presentation. “Anyone coming to the bidding table would expect to know the value of all other bidders, regardless of the winning bid,” those tracking developments say.
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