@Juggy777 Adani is participating in the auction, he's one of the big fish in India after Ambani.
More than a decade ago, Subrata Roy paid $370 million for Pune Warriors India. And the second team (Kochi Tuskers Kerala) was auctioned for $332 million. That was in 2010. One decade has passed and the brand value of IPL has increased by manytimes. I won't be surprised if the auction price crosses $1 billion this time. Only two franchises are in offer and it looks as if this may be the final expansion of the IPL. So for the industrialists like the Adani and Goenka, this is like a once in lifetime opportunity.
https://www.livemint.com/Consumer/JoiRXbcOttykik23vtcXnK/Sahara-pulls-Pune-Warriors-from-IPL.html
I posted this news in august.
2 more teams in the IPL soon. (2022)
BCCI invites tender for new IPL franchises
"The Board of Control for Cricket in India (BCCI) has put a base price of Rs 2000 cr for the new teams of the Indian Premier League (IPL). After it sent out a release inviting bids for two new franchises on Tuesday (August 31), a BCCI office-bearer confirmed to Cricbuzz that the reserve price would be Rs 2000 crore, an expected figure considering that the Rajasthan Royals, not exactly a top-rung side in the league, had sold 15 per cent of its share at an overall value of Rs 1850 crore recently.
The final selling price could be more than Rs 3000 crore per team but one BCCI official said the board expects it to be higher than double of the reserve fee. Ahmedabad and Lucknow are the favoured destinations but a few other cities are also available for purchase. The whole process of bidding could be over by October second week enabling the two new franchises to witness the IPL final in Dubai on October 15."