Lucknow frontrunner to get new IPL franchise; Adani group may bid for Ahmedabad franchise: Report

Lucknow and Ahmedabad are the favourites to have two new franchises represent them in next year's Indian Premier League.

The bid for the Ahmedabad-based franchise is likely to be floated by conglomerate Adani Group, an NDTV report said, quoting sources.

On Thursday, multiple reports revealed that Manchester United's owners, the Glazers, also picked up the bidding papers. However, any foreign company showing interest in buying IPL properties needs to have an Indian wing.

The BCCI expects to raise around Rs 7,000-10,000 crore from the team bidding process slated to take place on October 25.

Read | BCCI could earn up to $5 billion from IPL broadcasting rights

Sanjeev Kumar of RPSG, the Glazers, Adani Group, Hindustan Times Media Group, Torrent Pharma, Naveen Jindal of Jindal Power & Steel, Ronnie Screwvala, Aurobindo Pharma, CVC Partners, Kotak Group, broadcast & sport consulting agencies ITW, Group M and a Singapore-based Private Equity firm are all expected to place their bids on Monday, according to a list published by the news broadcaster. A report by Outlook revealed that Bollywood power couple Deepika Padukone and Ranveer Singh are also looking to bid on one of the new teams.

A former India cricketer representing one of these consortiums could become a co-owner.

While the IPL bid document costs just Rs 10 lakh, the league allows only firms and consortiums with an annual turnover of Rs 3,000 crore to bid for the teams.

The base price for new IPL teams is pegged at Rs 2,000 crore.

Check out latest DH videos here