Dubai: Two new teams — a Pakistan and an Indian community-based squad will be added to the T10 Cricket League, the inaugural edition of which was held with great fanfare in Sharjah last December.
The first edition was contested by six teams: Bengal Tigers, Kerala Kings, Maratha Arabians, Pakhtoons, Punjabi Legends and Team Sri Lanka.
The tournament duration will now be doubled from four days to minimum eight days or even 10 days. We will also use two venues — Sharjah and Dubai for the next edition. A lot of changes are in offing for the next T10 Cricket League after the success of last year.”
Shaji also revealed that the names of the team will be announced soon.
“The two teams we have decided would be a Pakistan community based team and another from the Indian community. We have given them a whole choice of names in the bidding document which they can select. The successful bidder can also have the choice of name,” said Shaji
The choice of names provided for the bidders are Deccan, Sindh, Menon, Marwaris, Balochs, Andhra, Gujarat, Fata and Kabul.
“The franchise fees have now been doubled and we are hoping to get $1.2m per team as last year it was only $400,000 per year. This will take the league to a higher level as it will also give immediate financial returns to all the six team owners who have only paid at the rate of $400,000 per year for the next ten years.”
The first edition of the T10 league showed record-breaking TRPs across the world and was broadcast live all over India, Pakistan, Middle East, Sri Lanka, Bangladesh, USA and over 110 countries worldwide.
Elaborating on how the team owners would gain more returns, Shaji said: “Cricket franchise module works not just on revenue but also on an evaluation basis. Now since we are increasing the franchise fees for the two new teams to $1.2 million per year, it will be $12 million for 10 years — so immediately, the valuation of six teams will jump up. If one franchise sells 50 per cent of his shares, he is bound to get $6 million as his entire spending for the ten years will only be $4 million Since the tournament is more than double all the revenue will also be double in terms of sponsorship and gate collection. Television broadcast income will also be double As per the contract about 80 per cent of the revenue we give back to the team owners. So team owners will gain additional revenue and on the evaluations.”
Salman Iqbal, the T10 Cricket league partner and President and Chairman ARY and owner of PSL’s Karachi Kings, said: “The stage is now set for us
to take off onto the next level by adding two new teams. We are looking to complete the process as early as possible so that we can scale up the preparations this year.”