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Deadline looms for IPL franchise auction

The deadline for the submission of sealed bids for the two new IPL franchises is looming with all bids needing to reach the BCCI by the end of today.

The sealed bids will be opened by IPL commissioner Lalit Modi on Sunday lunch time with details of the wining bids and the locations of the new franchises announced soon after.

It is believed the BCCI have sold nine or ten tender forms each costing more than $14,000 to potential bidders including the Adani Group, Sahara, Jaypee and Videocon.

The MCC are also believed to be interested in making a bid. The Committee met at Lords last night to discuss whether the club should join a consortium based in Pune.

“We’ve had some very productive discussions about this, which I will be reporting to the MCC Committee,” Bradshaw told The Times. “It is an exciting prospect to have the IPL played at Lord’s, but obviously we would discuss any plans with the ECB and many factors need to be considered, including any impact on the domestic game.”

The reserve price for the two new franchises is $225 million but the winning bids are expected to top $300 million making the new franchises twice as expensive as the Mumbai Indians who were brought by Mukesh Ambani for a record $111.9 million during the first franchise auction in 2008.

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