The IPL plans to augment its revenue three fold by entering into several new prospective proposals. First, the IPL clinched a telecasting deal with ITV Brittan. Now, IPL has entered into a merchandising arrangement with a swish watch company Bandelier. More such proposals of merchandising deals are in the pipeline.
The Auction for the two teams to be added next year is over. The result of the winners who will be awarded the franchisees will be known to day. The base price of the auction for a team is fixed at $225 million. The IPL is very confident that the ultimate price for one team may reach $300.This time, every participating bidder was asked to furnish a bank guarantee of $100 million to become eligible for bidding. The higher amount of base price and also a huge amount of bank guarantee has not limited the competition. It is reliably learnt that many big industrial giants like VIDEOCON, ICICI and others are on the fray. Initially, the MCC England had shown interest in participation for the bid. Now, the MCC confirmed that they have decided not to bid for a team. In fact, the representatives of MCC visited India to study about the IPL bidding. The recommendation submitted by the members was discussed and analyzed in depth. It was decided by MCC that they will not bid for a team considering the huge amount that they have to invest. However, considering the popularity of IPL, through out the world, they are looking forward for new avenues to associate with DLF IPL. The MCC is deputing its president and head of There will be more number of competitors now due to reduction of the bank guarantee amount.
The MCC is deputing bits office bearers to Mumbai next week to attend the inauguration of IPL.This step by MCC reflects the support and solidarity extended by MCC to IPL
The tactical and innovative business proposals of IPL are going to definitely pay rich dividends in terms of revenue.
Breaking News- The IPL management has taken a surprising decision in cancelling the tender and proposes to recall the tender with less guarantee bid amount. There were many requests to reduce the minimum guarantee amount of $100 million that is to be furnished along with the bid. The DLF IPL management accepted the request and revised the guarantee amount to $10 million.
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