5 bidders for 2 new IPL teams

March 19th, 2010

Once again the process of owning the two new IPL teams has started, two weeks after the tender process was cancelled due to poor response.

Five bidders had lined up by 5pm on Friday, the cut-off time for submission of bids, to qualify for the auction which will take place on Sunday morning. The bids will be opened in Chennai on Sunday morning and by the afternoon, the winners will be announced. The new owners will join the IPL bandwagon in the 2011 season.

The interested parties who had submitted the pre-qualification demand draft of Rs 46 crore – were Videocon, Sahara India, the Adani Group and a Pune consortium of Cyrus Poonawala and Ajay Shirke. Some of these corporate may be participating through other holding companies.

A BCCI official said:

“We have received deposits from five bidders. The name of the fifth bidder could not be confirmed, but there was speculation that it was infrastructure player Jaypee Group. In all, 13 entities had purchased bid documents.”

Now let’s see who are the 2 new owners to join the IPL league?

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