MUMBAI: BCCI has finalized the Indian Premier League (IPL) master plan. Two new franchises, player retention, a mega-auction, salary market increases and a new tender for media rights are among the plans waiting to be rolled out between August 2021 and January 2022.
The cricket council has finally decided to introduce two new franchises in the league. A tender dossier will be published in mid-August and after the mandatory verifications, bids will be opened in mid-October, to coincide with the final of IPL-Phase 2 in the United Arab Emirates.
the RP-Sanjiv Goenka group based in Kolkata and based in Kolkata; the Adani group headquartered in Ahmedabad; Hyderabad-based Aurobindo Pharma Ltd and the Torrent Group which operates out of Gujarat are interested. Likewise, there are other business entities and private equity and investment advisory firms that are closely studying this space right now.
The BCCI is about to increase the salary exchange from Rs 85 crore to Rs 90 crore, which means adding Rs 50 crore to the total payroll (among 10 franchises). Franchisees must spend 75% of the allocated purse. Over the next three years, the stock market will grow from Rs 90 crore to Rs 95 and possibly Rs 100 crore before the 2024 season.
Player retention has also been finalized. Each franchise will be allowed to keep four players, but with the following conditions: they can either keep three Indians and one foreign player, or two Indians and two foreign players.
Franchises that retain players must deduct specified amounts from their salary purse before embarking on an auction. The salary deduction, in the existing structure, is stipulated as follows: Rs 15 cr, Rs 11 cr and Rs 7 cr if three players are retained; Rs 12.5 cr and Rs 8.5 cr if two players are selected; and Rs 12.5 cr if only one player is selected.
With the salary scholarship expected to increase by Rs 5 cr (85 to 90) and the BCCI allowing franchises to keep a maximum of four players now, this structure could undergo a slight change in the future.
“Some players may like the idea of not wanting to be selected and will want to head to the auction pool. This is because there is an increase in the salary market and two new teams are being added. , there will be a rush to seize Expect some prominent Indian cricketers to come up with their names at the auction, ”say those who follow the developments.
And finally, the BCCI is also planning the big media rights auction, towards the end of 2021. With March now potentially available to them for an early start of IPL 2023 – this will help the board to host 90- plus games between 10 teams – the board and industry expect at least 25% increase in the value of media rights in the future.
The pandemic has seen a massive increase in OTT space over traditional linear streaming and that factor alone will dictate the rights industry in the months to come.