On October 25, the bidding for the two new Indian Premier League (IPL 2022) franchises will begin.
Cricbuzz has learned that some new parties have entered the queue to bid for the ninth and tenth IPL franchises for IPL 2022, which will be sold in Dubai on October 25. The deadline for the sale of the Invitation To Tender (ITT), the INR 10 lakh paperwork, closed on Wednesday. The ITT document has been purchased by around 20 parties.
There is no certainty that all of the purchases will turn up in Dubai to put offers, but some of the additional parties, whose identities have been revealed, bring fresh dimensions to the team auction. The starting bid for the squad in the auction has been set at INR 2000 crore. It remains to be seen if the new team will wind up costing twice as much as the reserve price, but given the competition, individuals anxious to acquire the teams may be compelled to boost their game.
Candidates for two new teams for IPL 2022
Torrent Pharmaceuticals, Inc.
Torrent Pharmaceuticals is present in over 40 countries and has over 2000 product registrations worldwide. Torrent Pharma is involved in the cardiovascular (CV), central nervous system (CNS), gastro-intestinal, diabetology, anti-infective, and pain management therapeutic sectors.
It has also expanded into the therapeutic areas of nephrology and cancer while maintaining a strong concentration on gynaecology and paediatrics. Torrent Pharmaceuticals announced a 32.51 percent increase in its overall net profit to Rs 216 crore for the quarter ended 30 June, owing mostly to healthy sales in most countries, on July 23, 2019.
The Goenka Group
If the Sanjiv Goenka Group purchases an IPL franchise, they will make a return in the league. They had already purchased Rising Pune Supergiant (RPS) for the 2016 and 2017 IPL seasons.
RPS did not make the playoffs in their first season, but they made a tremendous return in 2017 and participated in the final. Mumbai Indians, on the other hand, won the IPL in 2017. MS Dhoni, the current captain of the Chennai Super Kings and a former India team captain, led RPS in the inaugural season. For the 2017 IPL, he was replaced by Steve Smith.
The Adani Group
Gautam Adani, the owner of the Adani Group and India’s second wealthiest person behind Mukesh Ambani, is one of the main candidates to purchase the next IPL franchise. Logistics, agriculture, real estate, energy, resources, financial services, defence, and aerospace are all part of the Adani Group’s corporate portfolio.
With a conglomerate in Ahmedabad and one of the new franchises scheduled to be headquartered there, particularly following the completion of the world’s largest cricket stadium (Narendra Modi Stadium), the Adani Group is believed to be very keen. The corporation has also had a history with sports, having developed the ‘Garv Hai’ initiative to assist athletes in India. They have also established a football academy in Chhattisgarh (Surguja Football Academy).
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The Kotak Group
Kotak Mahindra Bank Limited is an Indian banking and financial services firm based in Mumbai, India. It provides corporate and retail clients with banking products and financial services in the fields of personal finance, investment banking, life insurance, and wealth management.
The Glazers (Manchester United Football Club)
According to the Times of India, the IPL may have some Manchester United flavour – one of the most famous and successful football clubs – since the Red Devils’ owners, the Glazers family, have shown interest in purchasing one of the two new IPL franchises. The Glazer family is thought to have obtained the Invitation to Tender (ITT) letter from the BCCI in order to acquire one of the two new franchises for the IPL 2022.
For the uninitiated, the ITT allows foreign businesses to own a team. It is worth noting, however, that if their petition is successful, they will be required to establish a firm in India. It is unclear if the Glazers, who are located in the United States, would make a formal offer for a franchise.
Additional contenders:
A venture capitalist organisation that once owned the rugby league in Europe and operated Formula One, as well as an Orissa-based industrial company that produces steel, electricity, and coal, are among the latest entrants into the race to buy an Indian Premier League (IPL) franchise.
