Football team ‘Barasat’ attracts Rs 25 crore bid | sports | Hindustan Times
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Football team ‘Barasat’ attracts Rs 25 crore bid

sports Updated: Jan 30, 2012 01:31 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Barasat has attracted the highest bid among all franchises of the upcoming Premier League Soccer, including Kolkata, and sold for a whopping Rs 25.12 crore, according to a press release sent by organisers Celebrity Management Group (CMG) and the Indian Football Association (IFA). Haldia, the sixth franchise, however, hasn’t been sold.

Barasat was sold at more than 30 times the base price of Rs 80 lakh and one of their biggest advantages could be the presence of a renovated football stadium with fully functional floodlights.

The Kolkata franchise, which had the highest base price of Rs 1 crore along with Siliguri, went to the local Camellia group for R11.5 crore. Siliguri sold for Rs 18 crore while Howrah and Durgapur were sold at R9 crore and Rs 7.6 crore.

The franchise tenders are for a period of 10 years and there will also be an expense cap for the franchise in each season. For the first season, the expense cap is $2.5 million (around R12.34 crore) while all teams have to spend atleast $ 2 million (around Rs 9.87 crore).

Japan star Hidetoshi Nakata’s name has been added to the icon players’ list. An auction of five icon players and 15 international players will be held on Monday.