Rediff News
All News
News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay  » Sports » Adani group bids for IPL team

Adani group bids for IPL team

By Sejal Shah
March 05, 2010 17:08 IST
Get Rediff News in your Inbox:

Ahmedabad could soon have an Indian Premier League team of its own after it was confirmed that billionaire Gautam Adani-owned Adani Enterprises had submitted its bid for a new franchise.

Adani's bid is in response to invitation of bids by the Board of Control for Cricket in India (BCCI) for two new franchises in order to raise the number of franchises from eight currently to 10 from 2011.

It is learnt that top corporate houses like Sahara Group, Videocon Enterprises and ICICI are among other bidders, while the guardians of the laws of the game, Marylebone Cricket Club (MCC), is also in the running for the Pune franchise.

"We have bid for an IPL team," a top official in the Adani group said, adding the bid is individual and not with a group or consortium.

The bids will be opened on Sunday, March 7, 1200 IST, after which the winners will be announced.

As per the IPL's tender condition, the bidders should submit a Rs 460-crore bank guarantee to participate in the bidding process. The IPL has set a base price of US $ 225 million per franchise.

The number of teams will increase from the IPL's fourth season next year.

The third season of the IPL, which begins in Mumbai on March 12, will have eight teams.

Get Rediff News in your Inbox:
Sejal Shah in Ahmedabad

Asian Games 2023

Asian Games 2023