IPL is set to add two new teams to the glamorous cricket League next year. Also, all existing teams will have to revamp their squad as IPL is set to have a mega auction for the next season. Although the existing teams will have the right to retain some of their players, new teams will be at a disadvantage of starting from scratch.
Hence, to help the two new teams build a strong foundation, the BCCI may allow them to buy top players outside of the mega auction. According to recent reports, the teams will be allowed to pick a few players from the lot of those who will have registered themselves for the auction expected to be held ahead of the start of the next season.
According to Cricbuzz, the number of ‘special picks’ could range from two to three players but it will be dependent upon the number of retentions the eight existing franchises will be allowed.
How many players can an existing IPL franchise retain?
According to reports, an IPL team will be allowed up to four retentions. In case a team retains four players, Right To Match (RTM) cards will be unlikely. However, nothing has been finalised and the eight teams will be informed about the policy later.
BCCI extends deadline for purchasing the Invitation to Tender
BCCI extended the deadline for purchasing the Invitation to Tender (ITT) document for buying new IPL teams by 10 more days on Wednesday. Various interested parties requested the BCCI to extend the date to purchase the tender. “Pursuant to requests from various interested parties, BCCI has now decided to further extend the date for purchasing the ITT document till October 20, 2021,” a BCCI release said.
Interested parties questioned the BCCI about its mechanism to determine the net-worth of an individual. Hence, an extension was needed.
For an individual interested in buying the team, the board has currently set a requirement of Rs 2500 crore net worth while companies should have a turnover of Rs 3000 crore
As per news agency PTI, major business houses such as Kotak Group, Aurobindo Pharma, Torrent Pharma, RP-Sanjiv Goenka Group, Birla Group and Adani Group are interested in buying the new IPL teams. The BCCI is hoping to earn a minimum Rs 7000 crore through the base price for each team has been set at Rs 2000 crore.
• Two new IPL teams to get ‘Special Picks’ ahead of mega auction
• BCCI extends deadline to buy tender for the new IPL teams