With the addition of two new franchises during the 2022 season of the Indian Premier League, the Board of Control for Cricket in India (BCCI) may soon be worth at least Rs 5,000 crore (IPL). The IPL, which is currently an eight-team competition, will expand to ten teams for the next edition, and the mechanics of the bidding process were laid out during a recent governing council meeting.

"Any company can buy the bid document paying Rs 75 crore. Earlier top brass was thinking about keeping the base price for two new teams at Rs 1700 crore but later it was decided to keep the base price at Rs 2000 crore," a senior BCCI source told media on the condition of anonymity.

The source, who has dealt with the financial side of IPL in the past, said that the BCCI stands to gain at least Rs 5,000 crore if the bids go as per plan with plenty of large business conglomerates showing active interest in bidding. "The BCCI is expecting anything in the range of Rs 5,000 crore if not more. There will be 74 IPL games next season and it's a win-win situation for everyone."

Only companies with annual revenue of Rs 3,000 crore would be allowed to bid for the teams, according to reports. The BCCI has announced that it will enable a consortium to compete for franchises, which will make the bidding process more dynamic.

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