Mumbai: The BCCI has prepared the blueprint for the Indian Premier League (IPL). Two new franchises, retention of players, mega auction, new tender for media rights have been included in this. The cricket board has finally made up its mind to include two new franchises in the league. For this, the bidding process will start in mid-August and the bids for mandatory scrutiny will be opened in mid-October.
According to sources, Kolkata’s RP-Sanjiv Goenka Group, Adani Group, Ahmedabad and Aurobindo Pharma Limited, Hyderabad, Gujarat’s Torrent Group are showing interest. Similarly some other corporate entities and private equity and investment advisory firms can also go ahead for this.
Salary budget will increase from 85 crores to 90 crores
BCCI is ready to increase the salary budget from Rs 85 crore to Rs 90 crore. This means another Rs 50 crore will be added to the total salary pool (among 10 franchises). The franchisee will have to compulsorily spend 75% of the allocated amount. The budget will increase from Rs 90 crore to Rs 95 in the next three years and to Rs 100 crore before the 2024 season.
Will be able to retain four players
Player retention has also been finalized. Each franchise will be allowed to retain four players, but with certain conditions. Franchisees can either retain three Indian and one foreign player or two Indian and two foreign players.
The budget amount of the franchise which retains the players is deducted. As per the existing rules, Rs 15 crore, Rs 11 crore and Rs 7 crore are deducted if three players are retained and Rs 12.5 crore and Rs 8.5 crore for retaining two players and Rs 12.5 crore for retaining only one player. go. Now the BCCI will allow the franchise to retain a maximum of four players with an increase of Rs 5 crore, then there may be a slight change in it.
Media rights auction by the end of the year
The BCCI is also planning to auction major media rights at the end of 2021. The Board and the industry expect a minimum 25% hike in the value of media rights going forward. OTT space has seen a huge growth in comparison to TV broadcasting due to the pandemic and this factor may play a key role in media rights auctions in the coming months. is.
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