As per a report, the BCCI has arranged an outline for the IPL, that includes two new franchises, player retention, mega auction, increase in salary purse, and media rights tender as well.
IPL: Increase in Salary Purse for Teams, Bid for New Franchises on Cards for BCCI. The BCCI has finished the outline for the Indian Premier League (IPL). Two new franchises, player retention, mega auction, increase in salary purse, and media rights are among the plans that are standing by to be unrolled between August 2021 and January 2022.
The cricket board has, at last, made its mind to acquaint two new franchises to the league after a very long span of time. A tender report for a similar will be brought out in mid-August and following the mandatory checks, biddings will be opened in mid-October, to be planned with the final of IPL-Phase 2 in the UAE.
Kolkata-based RP-Sanjiv Goenka Group based out of Kolkata; the Adani bunch settled in Ahmedabad; Aurobindo Pharma Ltd based out of Hyderabad and the Torrent Group that works from Gujarat are figuring out how to show interest. Similarly, there are some other corporate entities and some private equity and venture advisory firms who are occupied studying this space intently at this point in time.
It is likewise found that the salary purse for the teams is expanded to INR 90 crore. Not just that, in the following three years, the sum will ascend to 100 crores ahead of the 2024 season. Out of this sum, groups should spend at least 75%. Over the following three years, the purse will increase from Rs 90 crore to Rs 95 and eventually Rs 100 crore ahead of the 2024 edition. Player retention has likewise been finalized. With respect to the retention of players, each team will be given an alternative of retaining four players. Teams will be able to either hold three Indians and one overseas player or two Indians and two overseas players.
Franchise retaining players must deduct determined sums from their salary purse prior to heading into an auction. The salary derivation, in the current structure, is stipulated as follows: Rs 15 cr, Rs 11 cr, and Rs 7 cr if three players are retained; Rs 12.5 cr and Rs 8.5 cr if two players are retained; and Rs 12.5 cr if only one player is retained.
With the salary purse set to increment by Rs 5 cr (85 to 90), and BCCI permitting franchisees to retain a limit of four players now, this structure may go through a slight change going forward.
“A few players may like the idea of not having any desire to be retained and will need to head into the auction pool. That is on the grounds that there’s an expansion in the salary purse and two new teams are being added. In this way, there’ll be a rush to get the real talent out from domestic cricket. Anticipate that some leading Indian cricketers should advance their names for the upcoming auctions,” say those tracking development team.
Taking media action into account, it will be done at the end of 2021. With March being potentially available from the 2023 IPL, it will assist the BCCI with directing 90 or more matches between 10 teams. The media rights also are relied upon to surge by at least a 25% hike.
The pandemic has seen an enormous rise in the OTT space as against the traditional direct broadcast over televisions and other sources, that factor alone will direct the rights business in the coming months.