Punjab Kings co-owner Ness Wadia feels Rs 2000 Crore is a conservative number for two new IPL teams going for Rs 3000-4000 Crore

Punjab Kings co-owner Ness Wadia feels Rs 2000: Punjab Kings co-owner Ness Wadia said the addition of the teams will result in an appreciation of the value of IPL as well as existing franchisees.

Punjab Kings co-owner Ness Wadia believes that the Rs 2000 base price for two new IPL equipment is a conservative number that should increase by 50-100 percent during the bidding process. The new franchises will be announced on October 25, making the IPL a 10-team affair.

Wadia said the addition of the teams will lead to the appreciation of the IPL’s value as well as the existing franchises.

“The minimum base price is Rs 2000 crore at the moment, it will go for quite a lot more. Based on my little experience and knowledge of the IPL. 2000 is very conservative. And I wouldn’t be surprised if it went up a minimum of 50 to 100 percent more than that. I would expect at least Rs 3000 crore plus.

Punjab Kings co-owner Ness Wadia sees new IPL teams going for Rs  3,000-4,000 cr - BusinessToday

“Everyone wants to be a part of IPL but only a handful can be a part of it,” said Wadia. Asked if there are concerns that the existing teams might have with the addition of more outfits. Wadia said: “There are no concerns at all. It is good that two new teams are being introduced.

“I also feel IPL is a premium product and with the limited number of teams. The value of all the franchises will go up after the addition of new franchises. Bringing in 10 teams will bring more width and depth to the IPL. “There have been eight teams for the majority of the IPL history and after this. I don’t see more teams coming into the league for at least five to seven years.

“It will be very good for the broadcasters also. I see it as a big positive,” he said. Wadia feels new teams will also make the IPL a stronger product.

“IPL is the jewel in the crown of the BCCI and therefore the jewel will get the right value. Since there can only be two new teams, then automatically the value of existing franchises also goes up. “It is a closed league and the beauty of today is that you have a fixed asset. Which not only gives you appreciation, on a yearly basis but also consistent yearly revenue.

Wadia hoped the BCCI will make it fair for all participants.

“I don’t know what (BCCI is planning for the auction). Whatever is done should be fair and equitable. To the new teams coming in as well as the existing teams.” The IPL has also been expanding its wings overseas, mainly in the CPL where three teams — St Lucia, Trinidad and Tobagao, and Barbados — are owned by IPL owners.

Punjab Kings owns the St. Lucia franchise. Wadia won’t be surprised if more IPL owners take the same path. “It benefits cricket and I am pleased that three IPL team owners are involved and that sooner or later this is transferred to other teams. It all depends on the occasion.

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