Dubai, Oct 24: The IPL bidding process for new teams will begin on Monday as the Indian cricket board, BCCI is expecting new teams to go for huge sum.Also Read - India Set to Tour South Africa For Tests And ODIs; T20Is to be Played Later: Jay Shah

The Indian board believes the new franchises will go for at least 7000-8000 crore. 22 companies have picked up bids and cities like Ahmedabad, Lucknow, Indore, Guwahati, Pune, Dharamsala, Cuttack are in the fray. Only two franchises will make it to the 2022 season, which will add up to 10 teams. Also Read - BCCI Set to Clear Indian Team's Travel to South Africa

The companies have picked up tender document worth Rs 10 lakh but with base price for new teams pegged at INR 2000 crore, there is expected to be only five to six serious bidders in fray. Also Read - BCCI AGM Festival Match: Jay Shah Wrecker-in-Chief; Team Ganguly Falls Short by One Run

The BCCI is also allowing a consortium of up to three companies/individuals to bid for a franchise.

However, in case of an individual or company, that particular entity’s annual turnover should be minimum INR 3000 crore and in case of consortium, each of the three entities should have an annual turnover of INR 2500 crore.

In this scenario, one of India’s richest business tycoon Gautam Adani and his Adani Group are expected to bid for the Ahmedabad franchise. Adani Group, if they finally put up a bid, are the favourites to own a new franchise.

Similarly, RPSG group which is headlined by billionaire Sanjiv Goenka are also considered to be serious bidders for a new franchise. Whether RPSG would have any individual or other company as a part of consortium is still not known.

“Gautam Adani and Sanjiv Goenka are the biggest names in the Indian industry. They will be serious bidders. Expect a minimum bid of INR 3500 crore from the potential bidders. Don’t forget that IPL broadcast rights is projected around USD 5 billion (Rs 36,000 Crore).

“So the economics will work accordingly as franchises get the TV revenue share equally,” a BCCI insider tracking the developments told PTI on conditions of anonymity.

For the record, Goenka owned the Pune Franchise Rising Pune Supergiants (RPS) for two years and is also the owner of ISL franchise ATK Mohun Bagan.

There has been buzz that Lancer group, which is owned by Manchester United owner Avram Glazer, has also picked up the bid document.

The other notable companies which are in fray comprise Kotak group, pharmaceutical majors Aurobindo Pharma and Torrent group.

The two cities that are favourites in terms of stadium capacity are Narendra Modi Stadium in Motera with more than 100,000 capacity while the other is Ekana Stadium in Lucknow with 70,000 capacity. A former India cricketer may join one of the consortium as it looks. The former opener may join one of the consortiums which is expected to be serious bidders for the new franchises.

“Yes, a former India opener is ready to shell out around INR 300 crore and buy a minority stake if the consortium he is part of is able to successfully bid for a new team. He comes from a business family and he does want to invest in a cricket team.

“He is a distinguished player in his own right and also understands how the franchisee universe works,” the BCCI source said.

(With Inputs From PTI)