Ten parties submit bids for two new IPL teams; verification process on in Dubai

About ten parties attended the Indian Premier League (IPL) team auction at Taj Dubai at 12.30 PM IST (11 AM UAE time). Manchester United’s owners were among the bidders for an IPL franchise in one of the six cities: Ahmedabad, Lucknow, Cuttack, Dharamsala, Guwahati, and Indore. Others who have submitted bids include the Adani Group and the RPSG Group, which is owned by Sanjiv Goenka. One of the major omissions appears to be a well-known pharmaceutical company about which much has been written. The Kotak Group, which operates in the banking and insurance sectors, has also made a proposal. Uday Kotak, who has been linked to IPL interest, is the group’s leader. The group is said to have enlisted the assistance of a well-known media agency in the bidding process.

It’s also been revealed that MS Dhoni’s manager Arun Pandey’s Rhiti Sports placed a bid for Cuttack. According to accounts, Rhiti was acting as a front for a large corporation run by local tycoon Anand Podar. However, it is believed that he arrived late at the venue, and his bid was ultimately rejected due to late submission.

Aurobindo Pharma is reportedly interested in acquiring the Lucknow franchise. The bidding procedure for the Hyderabad-based pharmaceutical company is handled by Andhra Cricket Association president Sarat Chandra Reddy, who is based in the United States. Nityanand Reddy, his father-in-law, is in Dubai to submit the offer, and they are battling Goenka’s RPSG Group, which is also vying for the Uttar Pradesh-based centre. The Adanis and Torrent Pharma could be bidding in Ahmedabad, and a PE (Private Equity) firm has also entered the competition.

All parties must submit two envelopes: one for personal and financial credentials and the other for the bid. The Board of Control for Cricket in India (BCCI) has stated that its legal and audit staff will first check the credentials before opening the second envelope, which contains the bid. It is estimated that the procedure would take a few hours.