Indian Premier League: Star India, Chettinad Cement Among 21 Entitites to Buy Bid Document
According to a top Board of Control for Cricket in India (BCCI) official, though 21 corporate houses have bought the bid document, not all may participate in the bidding process for the two new teams in the Indian Premier League. These two new teams will replace Chennai Super Kings and Rajasthan Royals for two seasons
Star India and Chettinad Cement are among the companies which have bought the bid document for buying the two new teams in the Indian Premier League (IPL). (Indian Premier League to Name Two New Teams Which Will Replace Chennai Super Kings, Rajasthan Royals on December 8)
Apart from Star and Chettinad, it is learnt that Cycle Brand Aggarbatti has also bought bid document from the Board of Control for Cricket in India (BCCI).
"There are 21 corporates and large business houses which have bought bid documents. Now buying bid documents doesn't necessarily mean participating in the bid," a top BCCI official said.
While Star Sports are official broadcasters of India's home matches as well as matches in Australia, England and International Cricket Council (ICC) tournaments, thinking about buying an IPL team could be a significant development.
On the other hand, Chettinad Cement is a Chennai-based company which is more than 50 years old. Cycle Brand Agarbatti has also been associated with BCCI as sponsors during various international series.
Those who will buy team will be owning it for two years. The bidding process will be in reverse order as the lowest bidder will be owning the team.
Chennai Super Kings and Rajasthan Royals have been banned for two years after former BCCI president N Srinivasan's son-in-law Gurunath Meiyappan and Raj Kundra were found guilty for their involvement in spot-fixing and betting scandal. Both have been banned for life on recommendations of the Supreme Court-appointed Justice RM Lodha Committee.