New Delhi. Ness Wadia, the co-owner of Punjab Kings (PBKS), believes that the base price of two thousand crore rupees for the two new Indian Premier League (Two New IPL Teams Bidding) teams has been kept cautiously in which during the bidding. There should be an increase of 50 to 100 percent. The two new IPL franchises will be announced on October 25, making the IPL a 10-team tournament. Wadia said that the addition of two new teams will increase the cost of existing franchises apart from the IPL.
Wadia, co-owner of Punjab Kings, told PTI that at present the minimum base price is Rs 2,000 crore, it will increase significantly. If I tell on the basis of my experience and knowledge of IPL, then 2 thousand crores is a carefully kept figure and if there is a minimum increase of 50 to 100 percent in it, then I will not be surprised. I expect at least more than three thousand crore rupees.
Adding 2 new teams will benefit everyone: Wadia
He said that everyone wants to be a part of IPL, but only a few can be a part of it. Asked if the addition of new teams has any concerns for the existing teams, Wadia said there is no concern. It is good that two new teams are being included. EPL being the top tournament and having limited number of teams, the addition of two new franchises will increase the cost of all the franchises. Having 10 teams will expand the IPL.
‘IPL is a gem of BCCI, it should be priced right’
Wadia further said that IPL is the crown jewel of BCCI and hence this gem should be priced right. There can be only two new teams, so automatically the price of the existing franchise will also increase. This is such a fixed asset whose value will not only increase every year but will also get annual revenue continuously. You are getting money, 250 to 300 crores every year and apart from the increase in the value of the property, this money is coming directly into your pocket.
IPL Mega Auction to be held in 2022
The new team would like to add India’s star players to the face of their team. For this, a big auction will be important before the 2022 season, in which many Indian and foreign players will enter. With regard to players’ retention and right-to-match cards, Wadia hoped that the BCCI would keep things fair for all the participants.