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Ravi Shastri likely to become head coach of this IPL team in IPL 2022!
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The Board of Control for Cricket in India (BCCI) on Monday unveiled Ahmedabad and Lucknow as the two new teams for the Indian Premier League (IPL) 2022 after CVC Capitals Partners and Sanjiv Goenka's RPSG Group successfully bid for the franchises in Dubai's Taj Hotel.
The RPSG Group picked Lucknow as their home base with a winning bid of Rs 7090 crores while CVC Capital Partners have opted for Ahmedabad with a bid of Rs 5625 crores.
The BCCI on September 21 announced that they have decided to extend the purchasing date for the Invitation to Tender (ITT) for the right to own and operate one of two proposed new IPL team documents till October 20 from the original deadline of October 5.
"The Governing Council of the IPL had issued an Invitation to Tender (“ITT”) to acquire the right to own and operate 2 (two) new franchises. Pursuant to the tender process, various interested parties submitted their bids for the new franchises. The bids were submitted by the authorised representatives of the interested parties at Dubai today.
"BCCI is pleased to announce the following successful bidders (subject to definitive documentation and other formalities being completed):
"1. RPSG Ventures Ltd. Lucknow (for INR 7090 crores)
"2. Irelia Company Pte Ltd. (CVC Capital Partners) Ahmedabad (for INR 5625 crores)
"The new franchises will participate in IPL from 2022 season onwards subject to the bidders completing the post-bid formalities as specified in the ITT document. The IPL 2022 season will comprise ten teams and will have 74 matches, wherein each team will play 7 home and 7 away matches," the Indian cricket board said in an official release.
Before 2022, the 2010 edition of the IPL also featured 10 teams, with Pune Warriors India and Kochi Tuskers Kerala joining the tournament before both franchises were terminated. The BCCI is adding two new teams after six years. In 2015, it added two teams - Rising Pune Supergiants and Gujarat Lions - for the 2016 and 2017 editions as replacements for the then suspended Chennai Super Kings and Rajasthan Royals teams.
After his term as Indian men's team head coach comes to an end after the ongoing T20 World Cup in the United Arab Emirates (UAE), Ravi Shastri could be set to earn a lucrative Indian Premier League (IPL) stint for the 2022 season.
According to a report by Cricbuzz, Shastri has been offered the head coach job by the new Ahmedabad IPL franchise. It is believed that the owners of the new team are keen on getting Shastri at the helm.
CVC Capitals, the buyers of the Ahmedabad franchise have reportedly approached Shastri in Dubai. The Indian coach will only make the decision after the end of the T20 World Cup and does want any distractions during the tournament. If the former Indian cricketer accepts the offers, Bharat Arun and R Sridhar will be part of his staff.
Reports claim Shastri is open to accepting a coaching role in the Indian Premier League. However, if he takes a job in the cash-rich league, he will not able to sign a commentary deal with the Board of Control for Cricket in India (BCCI). It is also reported that many top broadcasters have offers lined up for Shastri.
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$1.6 billion for two IPL establishments: does it add up?
On August 25 the Indian business combination RPSG bunch and worldwide private value goliath CVC Capital purchased two new IPL establishments - Lucknow and Ahmedabad - for over Rs 12,715 crore (about US $1.69 billion). To assist us with seeing how the valuations bode well, if they do, we addressed Sundar Raman, who was the IPL's head working official somewhere in the range of 2008 and 2016. Raman in this way filled in as CEO at Reliance Sports, whose portfolio incorporates Mumbai Indians. Presently he is a free administration expert, and furthermore fills in as a counselor with Chennai Super Kings, the guarding IPL champions.
The triumphant offers for the two new establishments were Rs 7090 crore [$945m] and Rs 5625 crore [$750m]. Did you figure the numbers would be so huge?
Not to this degree. I would have most certainly said upwards of give or take 10-15% of a billion dollars yet not to the degree of $1.6 billion. The BCCI has worked effectively of acknowledging esteem with the degrees of interest that they have had the option to create from the different gatherings.
In 2008 when the establishment privileges were sold, the eight groups' worth was about Rs 2900 crore [$723 million, at Rs 40 to a dollar]. So the board offered the privileges to the eight establishments for around Rs 285 crore [$72m] each year. In the current cycle you are discussing Rs 1275 crore [$170m] each year for only two new establishments.
The IPL is a set up item. Individuals are coming in following 13-14 years of the item having all around settled. It resembles a person who purchased a house in Malabar Hill [luxurious region in south Mumbai] when there was no Malabar Hill, and a person purchasing a house there after the environment is set up. Clearly he will follow through on a greater expense.
The first eight establishments had an income portion of 80% of the IPL focal income [media-freedoms pay, in addition to focal sponsorship - basically pay from title sponsorship and partner sponsorship] in the initial not many years, which slowly went down to 60% and afterward to half over the ten-year time frame. Presently it is at half. So the genuine appreciation [in the cost of franchises] is much more.
How can one approach esteeming a resource like an establishment and showing up at a figure?
There are numbers skimming in the media regarding what the worth of the following pattern of IPL media privileges [likely to be for quite a long time, 2023-27] will be. I will check out it not as a five-year term but rather as a ten-year term since you are paying the establishment charge more than ten years.
What is the reasonable focal income throughout the following ten years? Adequately you will get 5% of that figure as income. Since establishments get a half offer and there are ten establishments, so 5% each. So 5% of that worth, say 60,000 crore, is 3000 crore. So it is a straightforward subordinate of the focal income - media freedoms in addition to sponsorship, in addition to the wide range of various stuff set up. In case BCCI will give me 3000 crore throughout the following ten years, I'm willing to offer back a similar sum to them as establishment charge.
Different expenses and other income streams I have should set themselves off the manner in which the focal income sets off the establishment charge. On the off chance that I bid anything far in excess of that, it's my misfortune or the speculation I make to gain the resource.