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BCCI reportedly wants to complete the sale of two new franchises before the IPL 2021 resumes in UAE with the cricket board set to float tenders in July. The plans for expanding the cash-rich league from eight to ten teams have been doing the rounds for some time now.
According to a report in Cricbuzz, a CEO of a firm interested in purchasing an IPL team, has confirmed the development. “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,” the CEO was quoted as saying by the website.
Recently, Redbird Capital Partners, a private firm having invested in company that owns Liverpool Football Club and Boston Red Sox baseball team, acquired 15 per cent stake in IPL franchise Rajasthan Royals. As per reports, the transaction amount is valued anywhere between USD 250m to USD 300m.
The website further quoted another source as saying that the valuation of the new teams is unlikely to take a dip because of the pandemic and in fact, the recent development with regards to Rajasthan Royals will only result in good news for the BCCI.
“The key to getting a good price is telling the world that more parties have interest. If a potential bidder is made known that the biggest business houses have purchased the tender document, the price will automatically shoot up. The media plays a big role in creating the hype. How the BCCI will manage the sale and orchestrate the hype is important,” the said.
The IPL 2021, which was suspended midway in the first week of May due to rising number of coronavirus cases within franchises, will resume in UAE.
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