Radius Developers acquires the most expensive franchise in the upcoming T20 Mumbai League

The flagship edition of the T20 Mumbai League (TML) is scheduled to be played at the Wankhede Stadium from March 11 to 21. TML was launched in last November but owing to various obstacles, including lack of time to get all the team owners scanned by the BCCI’s Anti-Corruption Unit, it was postponed for an indefinite period.

However, the project was revived earlier this month and has been rescheduled for March, just before the marquee players join their respective Indian Premier League franchises.

The most expensive franchise for the TML has been bought by Radius Developers, a construction company which has created a niche in the commercial hub of Bandra-Kurla Complex. The real-estate firm, owned by Sanjay Chhabria, spent a staggering INR. 6.5 crore for the Mumbai North franchise for the inaugural edition of the TML, Sportstar report suggests.

The bid documents for each of the six franchises were opened at the Mumbai Cricket Association premises on Wednesday. In total, 26 bid documents were bought by interested parties during the three-day window last week,  nine of whom actually submitted the bids on Tuesday.

After the technical evaluation, the bids were opened on Wednesday in the presence of a representative of the bidders, MCA office-bearers and officials of Probability Sports, the event managers.

Sachin Tendulkar is the tournament ambassador

PK Hospitality was awarded the Mumbai North-Central franchise at the base price of Rs. 3 crore since the other two bids for the same franchise turned out to be void if reports are to believed. The other four franchise owners are Transcomm Ltd, a consortium led by Jupiter Group which also includes actor Sharad Kapoor, construction company Shree Naman Group and Star Connect.

The official announcement of all the six franchises will be made at an event on Thursday where former India captain Sachin Tendulkar will be unveiled as the tournament ambassador.