BCCI Reportedly Planning To Complete Sale Of Two New IPL Franchises In July
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As per various reports, the Board of Control for Cricket in India (BCCI) is likely to complete the sale of two new IPL franchises in July. The board intends to complete the formalities before the start of the second phase of IPL 2021. It is said that the preparations have already started, and the sale could be completed by as early as the end of July.
BCCI contemplated introducing two new teams for IPL 2021
After the end of IPL 2020 in UAE, multiple outlets reported that BCCI was planning to introduce two new teams for IPL 2021. However, owing to the COVID-19 pandemic and the lack of time, BCCI postponed the event to IPL 2022.
Since 2014, IPL has been an eight-team affair. Only once in the history of the competition, there were ten teams in the tournament. It was in 2010 when Pune Warriors and Kochi Tuskers Kerala were also part of IPL.
There are already indications of the final price
As per the report in Cricbuzz, a few parties have already expressed their interest in the bid. In fact, some of them even have indications on what can be the final price. The CEO of a firm, which is interested in the sale, said:
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.
Mega-Auction certain before IPL 2022
As per the three-year cycle, the mega-auction had to happen before IPL 2021. With that not having happened, the mega-auction is certain to occur before IPL 2022. Since it will be October by the time IPL 2021 finishes, BCCI wants to complete the sale of two new IPL franchises in July so that there would be ample time left for the remaining conventions.
If there is a mega-auction, the retainment rules could come into the picture. This would necessitate more time for the franchises, who will want to do adequate analysis. Since IPL 2021 will finish late, it is best for everyone involved that the two new teams will complete their entry to IPL 2022 as early as possible.
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