Ten Bidders submit bids for two new IPL franchises

Ten Bidders submit bids or two new IPL franchises

The bidding process for the two new Indian Premier League (IPL) franchises began on Monday in Dubai. Ten parties submitted their bids to own a team at one of the six cities — Ahmedabad, Lucknow, Cuttack Dharamsala, Guwahati, and Indore.

Among the high-profile bidders to put their name in the hat, directly or through consortiums,

the Premier League club Manchester United, the Adani Group, Torrent Pharmaceuticals, Hindustan Media Ventures Pvt Ltd, RP-Sanjiv Goenka Group, Capri Global, and one Singapore-based Irelia Company Ltd.

Ten Bidders submit bids for two new IPL franchises 1Twitter image : @IPL

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At 12.30 PM IST (11 AM UAE time), about ten parties turned up for the Indian Premier League (IPL) team auction at Taj Dubai. Manchester United's owners placed bids to own an IPL franchise at one of the six cities - Ahmedabad, Lucknow, Cuttack, Dharamsala, Guwahati, and Indore.

The Adani Group and the RPSG Group, owned by Sanjiv Goenka, are among others who have submitted bids. One of the significant absentees is a prominent Pharmaceutical company about which much was written. It did not show up.

The Kotak Group, dealing in the banking and insurance sectors, has also submitted bids. The group is headed by Uday Kotak, who has been associated with an interest in the IPL. The group is understood to have taken the help of a famous media agency in the bidding process.

It has also been learning that Rhiti Sports, promoted by MS Dhoni manager Arun Pandey, submitted a bid for Cuttack. As per sources, Rhiti was fronting for a big company, believed to be owned by local businessman Anand Poddar. However, it is understood that he arrived a little late at the venue, and his bid was eventually not accepted for a late submission.

All parties have been asked to submit two envelopes for personal and financial credentials and the second for the bid. The (BCCI) has said its legal and audit officials would first check the credentials, and only after they are in order will the second envelope containing the bid be opened. The process is expected to take a few hours.

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