Corporate groups show interest in new IPL teams

Star India, Chettinad Cement and Cycle Brand Agarbathies are among the companies which have bought the bid document for buying the two new teams in the Indian Premier League (IPL).

Cycle Pure Agarbathies, who have sponsored BCCI events before, are among the corporate groups who have bought the bid document from BCCI.

Star India and Chettinad Cement are among the companies which have bought the bid document for buying the two new teams in the Indian Premier League (IPL). Apart from Star and Chettinad, it is learnt that Cycle Brand Aggarbatti has also bought bid document from the BCCI.

“There are 21 corporates and large business houses which have bought bid documents. Now buying bid documents doesn’t necessarily mean participating in the bid,” a top BCCI official said. While Star Sports are official broadcasters of India’s home matches as well as matches in Australia, England and ICC tournaments, thinking about buying an IPL team could be a significant development.

On the other hand, Chettinad Cement is a Chennai based company which is more than 50 years old. Cycle Brand Agarbatti has also been associated with BCCI as sponsors during various international series. Those who will buy team will be owning it for two years. The bidding process will be in reverse order as the lowest bidder will be owning the team.

Chennai Super Kings and Rajasthan Royals have been banned for two years after former BCCI president N Srinivasan’s son-in-law Gurunath Meiyappan and Raj Kundra were found guilty for their involvement in spot-fixing and betting scandal. Both have been banned for life on recommendations of the Supreme Court-appointed Justice Lodha Committee.