BCCI announces ‘invitation to tender’ to bid for 2 teams

Our Bureau Mumbai | Updated on August 31, 2021

The new teams will play from the IPL 2022 season onwards

The Board of Control for Cricket in India (BCCI) has invited expression of interest to acquire the right to own and operate two new teams proposed to take part in the Indian Premier League. At present, there are eight IPL teams. The new teams will play from the IPL 2022 season onwards.

Terms and conditions

The invitation to tender (ITT) will be available for purchase till October 5 for a payment of a non-refundable fee of ₹10 lakh.

The detailed terms and conditions governing the submission and evaluation of bids, including eligibility requirements, process for submissions of bids, proposed new teams’ rights and obligations, are contained in the ITT. The base price has been kept at ₹2,000 crore

“Any interested party wishing to submit a bid is required to purchase the ITT. However, only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out therein shall be eligible to bid. It is clarified that merely purchasing this ITT does not entitle any person to bid,” the BCCI further said in a statement.

BCCI reserves the right to cancel or amend the bidding process at any stage in any manner without providing any reason.

But some of the existing franchisees are not in favour of opening up the field to a new team as they fear losing their key players in the event of a fresh auction. “It can erode the value of a successful franchisee if some of their top players are bought out by another team during the auction,” said the owner of an existing franchisee.

Published on August 31, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like