Indian Premier League (IPL) is the biggest and most expensive cricket tournament in the world. The method of purchasing a team to participate in this is a bit special. If you are also wondering how much money is required to buy an IPL team, then let us know in this article where the bids to buy an IPL team come and how much money is required in your pocket for this.
Where do IPL team bids take place?
Bidding is done to buy an IPL team. Whenever a new team is formed or the owner of an existing team changes, the IPL organizes a sell off. Investors and companies place their bids in this auction. If their bid is the highest, then they get the right to become the owner of that team.
This auction is usually held in Mumbai or New Delhi. For this, the investor has to first take permission from BCCI and he has to show a certain financial capacity, so that it can be proved that the person is capable of running the team.
IPL Team buy Of For How many? money Needed,
To buy an IPL team you need a huge amount of money. Let us tell you that to buy an IPL team you will need approximately 1500 from crores of rupees 6000 An investment of up to Rs. crore may have to be made. The value of successful teams like Mumbai Indians and Chennai Super Kings is close to 5000 From 6000 Up to Rs crore. Whereas new teams like Ahmedabad and Lucknow have almost 5000 Up to Rs crore.
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Necessary conditions to buy IPL team
To buy an IPL team, you have to take approval from BCCI. Apart from this, you also have to pay a registration fee, which can be Rs 10-20 lakh. After this, you have to show a financial backup to participate in the auction to prove that you are capable of running the team.
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