Cricket News By TODAYLIVESCORE.INFO - Ten parties submit bids for two new IPL teams; verification process on in Dubai. Manchester United's owners were one of those who placed bids to own an IPL franchise
Manchester United's owners were one of those who placed bids to own an IPL franchise
At exactly 12.30 PM IST (11 AM UAE time), about 10 parties turned up for the Indian Premier League (IPL) team auction at Taj Dubai. Manchester United's owners were one of those who placed bids to own an IPL franchise at one of the six cities – Ahmedabad, Lucknow, Cuttack, Dharamsala, Guwahati and Indore.
The Adani Group and the RPSG Group, owned by Sanjiv Goenka, are among others who have submitted bids. One of the big absentees apparently is a prominent Pharmaceutical company about which much was written. It did not show up.
The Kotak Group, dealing in banking and insurance sectors, have also submitted bids. The group is headed by Uday Kotak, who has been associated with interest in the IPL. The group is understood to have taken the help of a famous media agency in the bidding process.
It has also been learnt that Rhiti Sports, promoted by MS Dhoni manager Arun Pandey, submitted a bid for Cuttack. As per sources, Rhiti was fronting for a big company, believed to be owned by local businessman Anand Podar. However, it is understood that he arrived a little late at the venue and his bid was eventually not accepted for late submission.
The Aurobindo Pharma is apparently eyeing the Lucknow franchise. The Hyderabad-based pharmaceutical company's bidding process is overseen by Andhra Cricket Association president Sarat Chandra Reddy from the US. His father in law, Nityanand Reddy, is in Dubai to submit the bid and they are fiercely challenging the Goenka's RPSG Group, which is also trying to get the Uttar Pradesh-based centre. The Ahmedabad bid could be between the Adanis and Torrent Pharma while a PE (Private Equity) firm has also joined the race.
All parties have been asked to submit two envelopes – one for personal and financial credentials and the second for the bid. The Board of Control for Cricket in India (BCCI) has said its legal and audit officials would first check the credentials and only after they are in order, will the second envelope, containing the bid, would be opened. The process is expected to take a few hours.
(More to follow)