The second big bang of the IPL dhamaka will take place at 11.40 am on Sunday, when the league’s bosses will open the bids from two more aspiring franchises. The running really is between Ahmedabad, Nagpur and Pune, though the offer is for 12 franchises.
While it is interesting to see which two bidders will pitch for two of the 12 franchises on offer, the bigger story is on how IPL has grown in just three years.
From scratch, IPL honcho Lalit Modi has built up a brand whose value is estimated by UK-based Brand Finance at $4.1 billion (Rs 1,876 crore).
The standards for Sunday’s bidders are way higher than in the first auction in 2008.
This time, sources say, Mr Modi has allowed entry only for groups with a net worth of $1billion (Rs 4,578 crore). This would mean that the bidders would need a cash turnaround of Rs 10,000 crore.
By this standard, in 2008, only Mukesh Ambani of Reliance Industries (Mumbai Indians) would have qualified among the current franchisees, with Vijay Mallya of the Kingfisher group (Bangalore Royal Challengers) and N. Srinivasan of India Cements (Chennai Superkings) close behind.
Current franchisees are watching the bids as it will push up the valuations of their own teams.
IPL facts
* IPL netted Rs 37.4 crore in application fees alone
* IPL brand value estimated at $4.1 billion (Rs 1,876 crore)
* All bidders have to give a bank guarantee for bidding amount
* Bidding is for two of the following cities: Ahmedabad, Nagpur, Pune, Kanpur, Vizag, Dharamsala, Indore, Cuttack, Gwalior, Baroda, Rajkot, Kochi
* Rumours have it that Gujarat Group, Videocon with Abhi-
shek Bachchan, Sahara group with Big B, and Poonawala Group are likely to bid
* IPL press meet in Mumbai at 11.40 am on Sunday
Showing posts with label Ahmedabad. Show all posts
Showing posts with label Ahmedabad. Show all posts
Sunday, March 7, 2010
Monday, February 15, 2010
IM had hand in Pune blast: Intel
Intelligence agencies suspect that alleged Indian Mujahideen (IM) operative Mohsin Choudhary, wanted in connection with the Ahmedabad and Delhi serial blasts, masterminded Saturday’s bomb blast in Pune.
Intelligence sources said there are reports that Mohsin recently visited Pune and reconnoitered several important places in the city. The sources added that Mohsin was the main operative of the IM’s west zone group and was in regular touch with other operatives of militant outfits.
The investigating agencies are trying to gather more details about the recent movements of Mohsin Choudhary.
Saturday’s bomb blast occurred in an area also visited by David Coleman Headley, the US citizen of Pakistani origin, who is in custody for alleged links with the Lashkar-e-Tayyaba.
Meanwhile, the Centre has decided to adopt a wait-and-watch policy on handing over the blast case to the National Investigation Agency (NIA).
Intelligence sources said there are reports that Mohsin recently visited Pune and reconnoitered several important places in the city. The sources added that Mohsin was the main operative of the IM’s west zone group and was in regular touch with other operatives of militant outfits.
The investigating agencies are trying to gather more details about the recent movements of Mohsin Choudhary.
Saturday’s bomb blast occurred in an area also visited by David Coleman Headley, the US citizen of Pakistani origin, who is in custody for alleged links with the Lashkar-e-Tayyaba.
Meanwhile, the Centre has decided to adopt a wait-and-watch policy on handing over the blast case to the National Investigation Agency (NIA).
