Rendezvous buys a team for Kochi-Kerala as Sahara Group and Rendezvous managed to win the rights of cricket teams in Indian Premier League (IPL). The combining bid of $ 703 million has made it richest cricket franchise in the world.
While Sahara Adventure Sports Limited bid $ 370 million for Pune, Rendezvous won the franchise for Kochi- Kerala for $ 333 million.
The $ 333 million bid by Rendezvous is around triple the bid Mukesh Ambani paid for Mumbai team in 2008.
The popularity of Indian Premier League has raised its brand value to $ 4.13 billion in 2010 according to Brand Finance.
Talking about the bids made by Rendezvous and Sahara, Lilit Modi, the President for IPL said that bidding was a competitive one and that they are happy to have two vigorous bidders in IPL. Modi further added that presence of Sahara and Rendezvous show an upward trend of the Indian Premier League.
Modi revealed that bid announced for two new teams is higher than the total price of rest of eight teams.
The owners of these eight teams are Ambani, Vijay Mallya, Lachlan and Shah Rukh Khan (SRK).
Modi suggested that they have ten now and most probably they will go with ten and an early expansion in IPL is not foreseen but he added that you may never know about the future.
We may not know the future but we know the present and presently IPL is at full swing and cricketers around the world are showing their talents every day at the Indian soil while media is busy to highlight every moment of the game.
Rendezvous
