The BCCI is anticipating a huge windfall as more than 30 companies have shown interest to enter the race to own a Women’s IPL franchise. The first WIPL season will have five teams with all 10 current IPL team owners and other companies competing for ownership of a team. Top companies include Haldiram, Infosys, Shriram Group, and Adani Group.
The BCCI issued an invitation to tender (ITT) listing 10 Indian cities and venues. The tender allows a single party to bid for more than one city and no base price has been set. The bids will be accepted for a 10-year period (2023-32). The ITT is available for a non-refundable fee of Rs 5 lakh and the last date to purchase it is January 21.
One of the requirements specified in the tender document is that the bidder's audited net worth must be at least Rs 1,000 crore as of March 31, 2022. The BCCI also stated that companies involved in consortiums or joint ventures are not eligible to bid, as per a Times of India report.
Who all are interested?
All 10 current IPL team owners have expressed interest and bought the ITT.
The list of interested companies also features owners of ILT20 franchises Gulf Giants (Adani Group) and Sharah Warriors (Capri Global).
Indian snack and restaurant company Haldiram’s reportedly expressed interest and bought the ITT just days before the deadline.
Other parties that have bought the ITT include APL Apollo, Shriram Group, Chettinad Cement, Nilgiri Group, JK Cement, and AW Katkuri Group.
The co-owners of the IPL franchise Delhi Capitals, GMR Sports and JSW Sports have also bought the tender separately.
As per a UK Daily News report, the Glazer family, which owns the football club, Manchester United, have also accepted the tender.
Apart from Shah Rukh Khan, Juhi Chawla, and Preity Zinta who are current co-owners of IPL franchises, no Bollywood stars have shown interest in purchasing a team yet.
The BCCI is set to open the sealed offerings on January 25 and announce the winner of the franchises. January 23 is the deadline for submitting the technical bids for the evaluation. The BCCI will conduct the evaluation in conjunction with Mumbai-based law firm Argus Partners.
As of now, the value of the teams is expected to exceed the projected amount.
(Edited by : Sudarsanan Mani)
First Published: Jan 21, 2023 2:38 PM IST
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