A mega-auction will also take place before IPL 2022.
While the 2021 edition of the Indian Premier League (IPL) is not yet done and dusted off, the Board of Control for Cricket in India (BCCI) has started to prepare for the next season. The 2022 event is of great significance as it will see the gala competition undergo many changes, including tournament expansion. Two new franchises are expected to emerge, making the IPL a 10-team event.
For the uninitiated, more than eight IPL teams have already participated in a single season. The 2011 edition saw 10 teams battle for the prestigious title, while the following two seasons saw nine teams in action. The IPL was back to eight teams in 2014 and hasn’t changed since. However, the dynamics are about to change again and it would be interesting to see what the transition ends up on.
As IPL is one of the most celebrated T20 leagues in the world, many business moguls and companies are aiming to buy one of the two franchises next season. According to The Times of India, a tender document for the new teams will be published in mid-August, and following mandatory formalities, the bids will be opened in mid-October.
Many parties eager to buy new IPL teams
The report further revealed the names of four parties interested in purchasing the new teams. Kolkata-based RP-Sanjiv Goenka Group, Ahmedabad-based Adani Group, Hyderabad-based Aurobindo Pharma Ltd and Torrent Group which operates out of Gujarat are expected to express interest. There are other business entities and investment advisory firms that are studying the case closely and may join the race later.
Notably, a mega auction is also expected to take place before the auction, which would see many teams undergo major overhauls. The tender event is said to take place in December later this year and players aiming to secure IPL contracts are expected to put on their best show in the coming months.
With two new teams to come, more players will have the opportunity to practice their profession in the IPL. In addition, it is also reported that BCCI is configured to increase the purse amount of each franchise from INR 85 crore to INR 90 crore. Therefore, all team owners have to brainstorm before the auction.