The cities of Ahmedabad and Lucknow are front-runners to have a new IPL franchise represent them in the cash-rich T20 league, sources close to the bidding process have told NDTV.

The cities of Ahmedabad and Lucknow are front-runners to have a new IPL franchise represent them in the cash-rich T20 league, sources close to the bidding process have told NDTV. Indian multinational conglomerate Adani Group is tipped to bid for a franchise from Ahmedabad, while the Glazer Family, owners of Premier League giants.

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Manchester United has also picked up bidding papers, a top BCCI official in the know of developments told NDTV. The bidding process for two new teams in the IPL is likely to take place on October 25, with the two highest bidders set to take the franchise rights. The IPL from next year will become a 10-team tournament. The BCCI had earlier extended the last date for interested parties to pick up the bidding papers to October 20.

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“Pursuant to requests from various interested parties, BCCI has now decided to further extend the date for purchasing the ITT document till October 20, 2021,” a BCCI release had said.

The interested parties, who have picked up bidding papers are:

Sanjeev Kumar – RPSG.

Glazer Family – Manchester United Owners.

Adani Group.

Naveen Jindal – Jindal Power & Steel.

Torrent Pharma.

Ronnie Screwvala.

Aurobindo Pharma.

Kotak Group.

CVC Partners.

Singapore Based PE Firm.

Hindustan Times Media.

Broadcast & Sports Consulting Agencies ITW, Group M.

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The BCCI is expecting anything between Rs. 7000 crore to 10,000 crores from the team bidding of IPL, according to a report by news agency PTI.

The BCCI had allowed consortiums and companies with an annual turnover of Rs. 3000 crore to bid for teams while the base price for new IPL teams is pegged at Rs. 2000 crore, the report added.

The bidding papers, in the form of the ‘Invitation to Tender document, could be bought by any interested party for a cost of Rs. 10 lakh.

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The BCCI had earlier shortlisted six cities — Ahmedabad, Lucknow, Cuttack, Guwahati, Ranchi, and Dharamshala — as bases for the two new teams.

Expansion of the IPL is not a new experiment. Pune Warriors India and Kochi Tuskers Kerala had joined the league in 2010 before both franchises were terminated.

During Chennai Super Kings and Rajasthan Royals’ suspension from the league, Rising Pune Supergiant and Gujarat Lions joined the league as temporary participants.

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