SN Gupta advised the Rendezvous Group that outbid heavy weights like the Adani Group and Videocon to bag the Kochi Team for 2011 IPL. The SN Gupta team was led by the Firm’s Capital Market and M&A Partner, Amit Aggarwal..SN Gupta advised the Rendezvous group in relation to the bidding process for IPL teams. The Rendezvous group bagged the Kochi franchise for a whopping $ 333.3 million (Rs. 1,498 crore). The bidding process that concluded on Sunday, adds Pune and Kochi to the already existing eight teams in the IPL. The Sahara group was the highest bidder with $370 million (Rs. 1,665 crore) and chose the Pune franchise..The IPL success story is reflected in the valuations of the new IPL franchises. The combined franchise fee of these two new teams is $700 million (Rs. 3,150 Crores), which is higher than the original eight franchises put together. The unsuccessful bidders included the Adani Group, VC Digital Solution (Videocon) and an anonymous Pune consortium..The SN Gupta team was lead by Capital Markets and M&A Partner, Amit Aggarwal [pictured]. His team also included Partners, Vijay Manjrekar, Ajay Saini and Associate Sumit Phatela. Speaking to Bar & Bench, Amit Aggarwal said, “The tender process although was like any other bidding, the IPL organizers had put several restrictive covenants on the franchise owners that required careful examination”. He explained, earlier the entities bidding for a franchisee were supposed to have a net worth of $1 billion (Rs. 4,500 crore) and had to provide a bank guarantee of $100 million (Rs. 450 crore). These two clauses were subsequently removed and a fresh bidding process was initiated, results of which were announced yesterday..Cricket and IPL has thrown a new set of opportunities for law firms advising IPL teams on a host of issues from trademark infringement, franchisee management and player contracts.
SN Gupta advised the Rendezvous Group that outbid heavy weights like the Adani Group and Videocon to bag the Kochi Team for 2011 IPL. The SN Gupta team was led by the Firm’s Capital Market and M&A Partner, Amit Aggarwal..SN Gupta advised the Rendezvous group in relation to the bidding process for IPL teams. The Rendezvous group bagged the Kochi franchise for a whopping $ 333.3 million (Rs. 1,498 crore). The bidding process that concluded on Sunday, adds Pune and Kochi to the already existing eight teams in the IPL. The Sahara group was the highest bidder with $370 million (Rs. 1,665 crore) and chose the Pune franchise..The IPL success story is reflected in the valuations of the new IPL franchises. The combined franchise fee of these two new teams is $700 million (Rs. 3,150 Crores), which is higher than the original eight franchises put together. The unsuccessful bidders included the Adani Group, VC Digital Solution (Videocon) and an anonymous Pune consortium..The SN Gupta team was lead by Capital Markets and M&A Partner, Amit Aggarwal [pictured]. His team also included Partners, Vijay Manjrekar, Ajay Saini and Associate Sumit Phatela. Speaking to Bar & Bench, Amit Aggarwal said, “The tender process although was like any other bidding, the IPL organizers had put several restrictive covenants on the franchise owners that required careful examination”. He explained, earlier the entities bidding for a franchisee were supposed to have a net worth of $1 billion (Rs. 4,500 crore) and had to provide a bank guarantee of $100 million (Rs. 450 crore). These two clauses were subsequently removed and a fresh bidding process was initiated, results of which were announced yesterday..Cricket and IPL has thrown a new set of opportunities for law firms advising IPL teams on a host of issues from trademark infringement, franchisee management and player contracts.