IPL 2021: Punjab owner Ness Wadia predicts massive bidding wars for new teams

As BCCI prepares to auction two new teams in the Indian Premier League, the market & experts are already predicting that the bidding wars will soon take the price of the new franchises way above the minimum bid set at Rs 2000 crore. Punjab Kings owner Ness Wadia feels that the business houses aiming to get new teams will try and out-bid each other and as a result the price might go up by 50-100%.

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Speaking to PTI, Wadia said “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 per cent more than that. I would expect at least Rs 3000 crore plus."

Wadia added that everyone wants to be part of the IPL family and the addition of the two new teams will be good for the competition, BCCI, broadcasters and also the existing teams.

Going by the existing busines models, Wadia feels that the new teams might also invest in other T20 franchises. Currently, 3 teams from IPL Punjab Kings, Kolkata Knight Riders and Rajasthan Royals own franchises in Caribbean Premier League.