Many interested in buying new IPL teams for 2022 season

While the Indian Premier League (IPL) 2021 isn't yet complete, the Board of Control for Cricket in India (BCCI) has begun planning for the following season. The 2022 event is significant because it will significantly improve the gala competition, including tournament expansion. The IPL will expand to ten teams with the addition of two additional franchises.

For the uninitiated, the IPL has never had more than eight clubs in a single season. The 2011 edition included ten teams competing for the prestigious championship, while the next two seasons featured nine teams. In 2014, the IPL reverted to an eight-team format, which has remained unchanged since then. However, the dynamics are about to shift once more, and it will be fascinating to see how the changeover plays out.

With the IPL being one of the most well-known T20 tournaments globally, several business moguls and corporations are eyeing one of the two teams for next season. According to the Times of India, a tender document for the new teams will be released in mid-August, and bids will be launched in mid-October when the necessary formalities are completed.

The names of four parties interested in purchasing the new teams were also revealed in the report. Based in Kolkata, the RP-Sanjiv Goenka Group, the Adani Group, based in Ahmedabad, Aurobindo Pharma Ltd, based in Hyderabad, and the Torrent Group, based in Gujarat, are all said to be interested. Other corporations and financial advice firms are attentively monitoring the case and may join the race later.

A mega auction is also scheduled to occur before the auction event, with many teams undergoing significant changes. The bidding event is expected to occur in December this year, and players vying for IPL contracts should put on their best performance in the coming months.

With the addition of two new clubs, more players will be able to participate in the IPL. Furthermore, the BCCI is expected to boost each franchise's purse amount from INR 85 crore to INR 90 crore. As a result, all of the club owners will need to conduct some brainstorming before the auction.