New IPL teams likely to be named on Sunday

chief

Prime VIP
New IPL teams likely to be named on Sunday



Chennai: The suspense over the two new IPL teams, who will join the cash-awash event from 2011 season, is expected to end tomorrow when bids from the proposed buyers open here at an auction.

This will be the second attempt to find new teams as the March 7 auction had to be cancelled when the proposed buyers objected to bidding guidelines.

Earlier, Groups with a net worth of USD 1 billion were allowed to be part of the process and that too with a bank guarantee of USD 100 million.

But now as per the relaxed conditions, the buyers are to choose from eight cities -- Pune, Ahmedabad, Kanpur, Nagpur, Indore, Cuttack, Gwalior and Visakhapatnam -- with an advance deposit of USD 10 million.

The base price for each new franchise would be USD 225 million.

The BCCI sources said 13 companies had bought the bid document and five bids were received by the cut-off time which ended yesterday evening.

"The auction could not be held earlier but this time we are sure of opening the bids to find out the largest bidder. But it is likely to take time since the IPL Committee need to peruse the documents and financial standing of the winners before being made public," one source said.

It has been learnt that Sahara Group, Jaypee Group, A Pune Consortium of Cyrus Poonawla, Videocon and Maharashtra Cricket Association President Ajay Shirke are in fray.

The bids will be opened tomorrow morning and results may be announced in the evening.

The successful bidders will be given 48 hours to pay 10 per cent of their bid price.

 

prithvi.k

on off on off......
the costly team bid ever az these business ppl will die to by the new ipl team.. az bach chance nahi milna

so results , 2 new teams -
Pune - The Sahara group won the bid for IPL franchise Pune.some USD 370 million
Abhijit Sarkar, corporate communications head at Sahara, ‘‘ It’s close to Aamby Valley. We have our business reasons for choosing Pune.”


Kochi -The second bid was for $333.33 million (Rs 1,533 crore) from a consortium of investors under Rendezvous Sports who opted for Kochi as their base camp. “It would suffice at this point of time to let you know that we are a group of investors passionate about cricket.

“Some are from Kerala, some from other parts of India and some from abroad. I would not like to reveal too many details at this point of time,” said Vivek Venugopal, a builder from Kerala and one of the investors in the state. However, it is learnt that the group also includes Anchor Switches, Rosy Blue Diamond , Mukesh Patel, and Ravi and Sanjay Gaikwad.


The size of the bids surprised one and all, including Modi himself. “I was expecting something in the range of $320m, but this does come as a surprise to me. You talk about recession, but all I can say is that there’s no recession in IPL,’’ exulted a beaming Modi. Among the losers , Aman Vohra placed a bid of $261.3 million, Adani Group bid $315 million for Ahmedabad and VC Digital bid $319.9 million for Pune.
 
Top