The Board of Control for Cricket in India (BCCI) is determined to cash in on the success of the Indian Premier League (IPL) tournaments. It has now decided to peg the base bidding price for the two new teams to be included from 2011 at $225 million (around Rs 1,051 crore), compared with just $50 million in 2008. The IPL had attracted franchisees for eight teams in 2008, its inaugural season. The decision was taken at the BCCI?s governing council meet in Mumbai on Thursday.
In 2008, Reliance Industries was the highest bidder and paid $111.9 million for team Mumbai India, followed by liquor baron Vijay Mallya who paid $ 111.6 million for Bangalore Royal Challengers and Deccan Chronicle executive director PK Iyer, the third highest bidder who paid $107 million for team Deccan Chargers. It is estimated that BCCI raised a total off $1.749 billion through the team auction.
IPL chairman and commissioner Lalit Modi said, ?We had a good and constructive meeting for over two hours. The auction for the two new teams will be held towards the second or the third quarter of 2010 after both the IPL and the Champions League are over.?
IPL governing council took several other decisions. For the first time ever, BCCI has tied up premium watch brand Cartier to launch IPL signature collection, said industry sources. The trading rules have been approved. The player auction would be held on January 19. Each team can spend a maximum of $750,000 during player auction. The council has also made it mandatory that all the IPL venues should have CCTVs for added security. The council has also appointed a new marketing director Utkarsh Singh, and broadcasting director James Rego.
Shashank Manohar, president, BCCI also rubbished off recent media speculation over whether Lalit Modi would be removed from one of the office posts that he holds in the BCCI. He said, ?Lalit is doing an excellent job as IPL commissioner. He is appointed by the general body till 2012. There is no reason, power or authority upon us to remove Lalit. There could be differences in issues between the board members, but that does not make them enemies.?