The cricket fraternity has witnessed eight teams competing amongst themselves in the Indian Premier League in most of the seasons. However, in the initial seasons, 9 and 10 teams participated in the cash-rich IPL.
Although the idea to have more teams in the competition was appreciated, the overall process didn’t turn out to be hit. Meanwhile, the Bcci is still planning to include two more teams in order to expand the structure of the IPL.
The plans for expanding the lucrative IPL from 8 to 10 teams have been the subject of discussion for a long time now. So far, 13 seasons of the IPL have been done and dusted.
Mumbai Indians are the most successful team in the tournament with 5 titles. Chennai Super Kings follow next on the list with 3 trophies. Kolkata Knight Riders won two titles to their name.
Sunrisers Hyderabad, Rajasthan Royals won a title apiece. On the other hand, RCB, Punjab Kings and Delhi Capitals are the three other teams who are yet to win a championship.
Deccan Chargers, Rising Pune Supergiants, Pune Warriors India, Kochi Tuskers Kerala, Gujarat Lions were some of the teams that took part in the IPL. However, they were terminated by the IPL Governing Council.
BCCI wants to complete the sale of IPL teams
Meanwhile, BCCI wants to complete the sale of 2 new franchises, a report has revealed. The report states that the richest cricket body wants to do it before the IPL 2021 resumes in the United Arab Emirates.
The BCCI looks forward to floating tenders next month. As per a report in Cricbuzz, a CEO of a firm interested in buying an IPL team confirmed the development. “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,” the CEO was quoted as saying by the website. Not long ago, Redbird Capital Partners acquired a 15% stake in the IPL franchise Rajasthan Royals.
Redbird Capital Partners is a private firm that owns Liverpool Football Club and Boston Red Sox baseball team. The private firm acquired some portion of the stake in the Rajasthan Royals. The transaction amount is valued somewhere between USD 250m to USD 300m.
The valuation of the 2 teams is not likely to take a dip due to the coronavirus pandemic. The recent development with regards to the RR franchise will only lead to positive news for the BCCI.
“The key to getting a good price is telling the world that more parties have an interest. If a potential bidder is made known that the biggest business houses have purchased the tender document, the price will automatically shoot up. The media plays a big role in creating the hype. How the BCCI will manage the sale and orchestrate the hype is important,” the said.
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