The BCCI has finalized the plan and schedule of introducing two new franchises ahead of IPL 2022 and various other important aspects. While the cities based on which a couple of new franchises would come is yet to be decided, the Indian cricket board had announced its strategy way before to make the 15th edition a ten-team affair. A few giants have already shown interest in buying the teams.
According to the Times of India, mid-August of 2021 will see the tender documents being flown out for the new franchises. After a two-month gap, the new franchises would be introduced, while a mega auction will occur in December 2022. Finally, in mid-January, tender document for media rights sale would be brought out.
Kolkata-based RP-Sanjiv Goenka, Adani group headquartered in Ahmedabad, Aurobindo Pharma Limited, stationed in Hyderabad, and the Torrent Group operating from Gujarat have already shown interest in buying the franchises. Furthermore, several corporate entities and some private equity and investment advisory organizations are in the middle of studying the possibilities.
BCCI to increase the salary purse for all the franchises ahead of IPL 2022:
The BCCI will also magnify the salary purse of all the franchises from INR 85 to 90 crores, meaning there would be an increase of INR 50 crores to the total pool amongst ten franchises. The teams must spend a minimum of 75% of the allotted purse.
As far as the player retention policy goes, every franchise can retain four players. However, the conditions for retaining are there should either keep three Indians and one overseas player or two Indians and two foreign cricketers.