BCCI wants to complete the sale of two new teams before IPL 14 resumes

The Board of Control for Cricket in India (BCCI) is looking to complete the sale of two new franchise teams before the IPL resumes in the United Arab Emirates and the BCCI will float tenders for the same in July. The discussion of taking the immensely rich IPL from eight teams to ten teams has been going on for some time now.

According to a report in Cricbuzz, the CEO of a firm looking to buy an IPL team confirmed the development and said, “It is understood that the tender will be floated next month, we were waiting for this for some time now.” We wouldn’t be surprised if the base price is $250 million.

Recently, a private firm Redbird Capital Partners has bought 15 per cent stake in IPL franchise Rajasthan Royals. According to reports, the transaction amount is between $25-300 million.

According to the website, another source has been quoted as saying that there will be no fall in the price of new teams due to the pandemic and the latest developments regarding Rajasthan Royals is good news for the BCCI.

The basic mantra of getting a good price is to tell the world that more parties are willing, the source said. If the potential bidder is told that such a big business house has bought the tender documents, the price will automatically go up. The media plays an important role in creating this hype. How BCCI looks at sales and hype will be important.