I think each new IPL team would go for a minimum of 3000 to 3,500 crores: Ness Wadia

Earlier, the Board of Control for Cricket in India (BCCI) had announced the auctions of two teams for the Indian Premier League (IPL) for the upcoming 15^th edition. The board had also mentioned that the new teams will be from the Northern part of India. Also, the board had announced that it has set a cap of over 2000 crores turnover for the companies that wish to buy the two new IPL teams in the auctions, which is tentatively slated to take place in October.

Ness Wadia Punjab Kings co-owner feels that two new IPL teams which the board is set to announce on October 25 will be approximately sold between 3000 to 3500 crores. Wadia further opined that he is excited to welcome the two new teams in the IPL as that would give an entirely different dimension to the tournament in the coming few years.

“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 a minimum of 3000 to 3,500 cr,” Wadia told Times of India.

Wadia further stated that the two new teams in the Indian Premier League (IPL) will offer a lot of value and strengthen the league as one of the greatest T20 leagues in the world. The PBKS co-owner also felt it will give opportunities to several new players and bring a lot of income to coaching staff and owners.

“I’m excited about two new teams coming in because it will add a new dimension to the league. It will bring in a much wider base of viewership. And it will strengthen the IPL, which is already the greatest cricket league in the world and one of the greatest leagues in world sport.

The mega auction should be fair to the two new IPL teams: Ness Wadia

“I believe that it will add a lot of opportunity to not only several other cricketers but will bring in a lot of income to coaching staff and owners. It’ll be economically beneficial to all those who participate in the IPL. It will provide employment. More importantly, it will enhance the number of games in the IPL, so the fans will get a lot more cricket to watch,” said Wadia.

Wadia concluded by saying that the mega player auction in December for IPL should be interesting since two new teams are coming in. He also said that the mega auctions should be fair to the new IPL teams. “It (the mega player auction) should be fair and equitable, especially to the two new teams coming in. I’m looking forward to seeing what happens from that perceptive,” he said.