Future, Sahara pad up for IPL

The Future Group and Sahara Group have made a last minute dash to own Indian Premier League's (IPL) team. It is learnt from sources that the two companies today paid Rs 20 crore as guarantee deposit to the Board of Control for Cricket in India (BCCI).

When contacted, Lalit Modi, vice president, BCCI, confirmed that some companies had deposited the guarantee amount. "There are companies that have paid the guarantee deposit. However, I cannot name them," he said.

This move comes just a day before the bidding process for team franchisee, scheduled on Thursday.

The corporates who will finally battle it out for the eight teams that will play in the 56 matches include a consortium of financial experts, lead by renowned banker Anshu Jain, Mukesh Ambani-promoted Reliance Industries, Reliance Anil Dhirubhai Ambani Group, Bollywood actor Shah Rukh Khan's production company Red Chillies Entertainment, real estate major DLF, media company Deccan Chronicle, infrastructure company GMR group, liquor and airline baron Vijay Mallay, fast food giant Nirulas, India Cement and Videocon Industries. 
 

PITCH REPORT The line-up of companies that are said to be pitching for the sponsorship of various teams in the Indian Premier League of the Board of Control for Cricket in India, beginning in April.*
Company/individual	Teams
Reliance Industries Ltd	Mumbai, Ahmedabad
Anil Dhirubhai Ambani Group	Bids for all teams with preference  for Mumbai, Ahmedabad
Shah Rukh Khan	Mumbai, Jaipur
DLF	Delhi
Anshu Jain-led consortium	Kolkata
Nirulas	Delhi, Chandigarh
GMR	Bangalore, Hyderabad
Deccan Chronicle	Hyderabad
Videocon Industries	Mumbai, Kolkata
Vijay Mallya	Bangalore
India Cement	Chennai
Future Group	Not known
Sahara Group	Not known
*Information available from industry sources

Of the 40 tenders that were selected at Rs 4 lakh each, 13 have deposited the guarantee amount, according to sources. On January 24, the interested corporates will have to bid over the floor price of $50 million for each team. BCCI will announce the winners on the same day.