The Indian Premier League, the BCCI-backed Twenty20 tournament, will announce the eight cities in which the teams are to be based when the bids for the franchises involved are opened. The base price for owning a team for ten years is reported to be $50 million but strong competition for the franchises is expected to boost bids.
"Our clear focus in designing the league has been to maximise the value of the team owners," Balu Nayar, the managing director of the International Management Group India, the sports management and marketing firm working with the BCCI on IPL, told Business World.
