Kerala T20 Premier League Bidding Concludes
Six Teams to Compete Starting September 2
The Kerala T20 Premier League (KT20PL) bidding process has successfully concluded. The tournament will begin on September 2 at the Greenfield International Stadium, featuring six teams.
The bidding process, which started with an advertisement on June 26, 2024, received expressions of interest from reputed entities. The initial submission deadline of July 15, 2024, was extended to July 17 for bidder convenience. An FAQ section was provided on the KCA website and sent to bidders who purchased bids.
The technical evaluation, conducted by KPMG, assessed bidders against the eligibility criteria. A total of 13 responses were received, with the evaluation completed by noon today. The base price was set at INR 1 crore plus GST, with a maximum ceiling price of INR 2.5 crore. The process aimed to attract committed team owners passionate about cricket, focusing on sustainability and value creation.
Notable bidders included Zohra A Sait and Azeem A Sait (Finesse Market Link Private Limited), TS Kaladharan (Console Shipping Services India Private Limited – Consortium), Subash George (Enigmatic Smile Rewards Private Limited), Sanju Mohammed (EKK Infrastructure Limited), Rajive Paul (Chungath Jewellers), Sohan Roy Sreevilas Krishnan (Aries Group), Jose Pattara, and S. Priyadarshan (Consortium).
Doubts Revealed
Kerala T20 Premier League -: The Kerala T20 Premier League (KT20PL) is a cricket tournament where teams from Kerala compete in a shorter format of the game called T20, which means each team plays 20 overs.
Bidding process -: The bidding process is when people or companies offer money to buy something. In this case, they were offering money to own a team in the cricket league.
Greenfield International Stadium -: The Greenfield International Stadium is a big sports stadium in Kerala where many important cricket matches are played.
KPMG -: KPMG is a company that helps other companies with things like accounting and business advice. They helped check the bidding process to make sure it was fair.
INR 1 crore -: INR stands for Indian Rupees, which is the money used in India. 1 crore is a way to say 10 million rupees.
GST -: GST stands for Goods and Services Tax, which is a tax people pay when they buy things in India.
Notable bidders -: Notable bidders are important or well-known people who wanted to buy a team in the cricket league. Some of them are Zohra A Sait, Azeem A Sait, and others.
