Ness Wadia, co-owner of Punjab Kings (PBKS), thinks the two new Indian Premier League (IPL) teams could be sold for a minimum of ₹3,000 to 3,500 crore.
The Board of Control for Cricket in India (BCCI) had previously said it will announce details of the two new teams that will participate in the IPL on October 25 after a team auction.
Wadia called the addition of two new teams to the T20 league as a welcome move YOU in an interview:
“The value of each of the new teams should be 50 to 75% more than the base price of Rs 2000 cr. I think each team would go for at least 3,000 to 3,500 cr.”
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According to the 50-year-old, the inclusion of two more teams in the IPL will add a new dimension to the competition. Wadia added:
“It will bring in a much broader base of viewers. And it will strengthen the IPL, which is already the largest cricket league in the world and one of the biggest leagues in world sport. I believe it will bring a lot of opportunities to not only other cricketers, but will also bring a lot of income to the coaching staff and owners. It will be economically beneficial for everyone who participates in the IPL. It will provide employment opportunities.”
Meanwhile, the IPL mega is all set to be held in December. As a result, franchises are only allowed to keep a handful of players. Asked to share his thoughts on this, the co-owner of PBKS said:
“It (the mega player auction) has to be fair and equitable, especially for the two new teams coming in. I’m looking forward to seeing what happens from that perspective.”
While the IPL organizers have not yet released the retention rules, media reports say that each franchise should not retain more than three to four players. They also get the option of RTM (Right To Match) on the auction.
“It’s a bit disappointing. We should have done better” – Ness Wadia on PBKS’ 2021 IPL performance
PBKS have had a disappointing run in IPL 2021. They have only had five wins from 13 games. They went to Rajasthan Royals (RR) despite needing just four runs to win the latter.
Also in their previous encounter with the Royal Challengers Bangalore (RCB) they crumbled to beat from a dominant position.
Reflecting on PBKS’ efforts in this year’s IPL, Wadia admitted:
“It’s a bit disappointing. We should have done better, and I’m sure we will. I’m sure the players are well aware of their responsibilities, the required focus and improvement in game closing. But there is a lot of pressure, and people understand that.”
PBKS will take on Chennai Super Kings (CSK) on October 7 in Dubai.