IPL 2022: The Board of Control for Cricket in India (BCCI) has finalized its plans to start two new franchises before IPL 2022 and many other important aspects.
The cities where the new franchise will come is yet to be decided. BCCI had announced its strategy before playing 10 teams in the 15th edition of the IPL. Some veterans have already shown interest in buying the teams.
According to a news report, the tender documents for the new franchise will be sent in mid-August 2021. New franchises will introduce after a gap of two months while a mega auction will take place in December 2022. The tender document for the sale of media rights will eventually be brought out in mid-January.
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IPL 2022 Details
Kolkata-based RP-Sanjiv Goenka, Ahmedabad-headquartered Adani Group, Hyderabad-based Aurobindo Pharma Ltd and Gujarat-based Torrent Group have already shown interest in buying franchises. Also several corporate entities and some private equity and investment advisory organizations are in the midst of studying the possibilities.
BCCI is also going to increase the salary of all the franchises. According to the information, the BCCI will increase the salary from Rs 85 to Rs 90 crore, which means that the total pool of 10 franchises will increase by Rs 50 crore. Teams must spend at least 75% of the allocated funds.
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As far as player retention policy is concerned, each franchise can retain up to 4 players. However, there are conditions to retain that either 3 Indian and one foreign player or 2 Indian and 2 foreign cricketers can be retained.
