Tuesday, March 23, 2010

Kochi gets an IPL team

Good news - a consortium of 5 partners (the Rendezvous group, Parini developers, Anand Shah Estate, Anchor Earth Private Limited and Film Waves) have bid for and won an IPL franchise to be based out of Kochi.

Now, the promised stadium from KCA is still a few years away. So, though it will be Kochi based team, the home matches will probably be played elsewhere in India for the first couple of years.

Another detail of the auction that caught my eye was the fact that the combined bid value of the two new teams is more than the combined cost of the original eight teams in 2008! So the appreciation of perceived value has definitely been very good for the existing teams. The money making machine under Lalit Modi continues its forward march.

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