The bidding process for the two new Indian Premier League (IPL) franchises began on Monday in Dubai with ten parties bidding to own a team in one of six cities: Ahmedabad, Lucknow, Cuttack, Dharamsala, Guwahati and Indore.
Among the high-profile bidders to put your name on the hat, directly or through consortia, are the owners of the Premier League club Manchester United, the Adani Group, Torrent Pharmaceuticals, Hindustan Media Ventures Pvt Ltd, RP-Sanjiv Goenka Group, Capri Global and an Irelia Company Pte Limited based in Singapore.
The agency that once represented former India captain MS Dhoni, Rhiti Sports Management has submitted an offer for one of the two new IPL teams.
According to Cricbuzz, all parties have been requested to submit two envelopes, one for personal and financial credentials and the second for the offer. The Cricket Control Board in India (BCCI) has said that its legal and audit officials would first verify the credentials and only after they are in order will the second envelope containing the offer be opened.
The BCCI had twice extended its 'Invitation to Tender' and had extended the deadline until October 20, so that Manchester United can participate in the bidding process.
The BCCI reportedly expects the two new IPL franchises to go for Rs 7000 crore to Rs 10000 crore each. Initially, 22 companies collected the bidding document worth Rs 10 lakh, but only 10 parties submitted their bids.
The base price for new equipment is Rs 2000 million.
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