As the BCCI's deadline for the invitation of bids for a new IPL team expires at 12 noon today, the biggest question is "are there enough companies showing interest?". It is likely that a new franchise is on the way but the suspense remains.
Noida based Jaypee group and Hyderabad's PVP Ventures, it is understood, are the front runners. It was PVP Ventures who wanted to acquire the Deccan Chargers as well but their bid was rejected at the time amidst loads of drama. But the Jaypee Group might have an edge over PVP. In fact, the corporate house was probably the reason why the BCCI included Noida in the list of available cities.
NDTV has also learnt that the Jaypee group has picked up the bidding papers. Jaypee though, would want to use the Green Park stadium in Kanpur till the Noida one is ready.
On the other hand, after the Deccan fiasco, even the BCCI has decided to tighten up its contract clauses.
BCCI'S new guidelines:
- 20 cr performance deposit during submission of bids
- Bidders forfeit that deposit if they fail to provide annual bank guarantee
- BCCI can terminate franchise if they don't pay players or change ownership structure without informing BCCI
Under the new rules, the new franchises will have to submit a Rs 20 cr performance deposit during submission of bids. The bidders would forfeit that deposit if they fail to provide an annual bank guarantee. The board is doing this to ensure they have the money to pay players & support staff if a franchise fails to do so.
That the IPL's popularity is dwindling is evident from the fact that the BCCI has lowered it's reserve price for a new franchise to just Rs 60 cr. That's almost half of what the BCCI set during 2010 when Pune and Kochi came into existence.
The Adani Group from Ahmedabad and the Videocon Group from Pune, who have gone on record in the past showing interest in buying an IPL team, haven't shown any interest this time around.