IPL 2022: BCCI releases ‘Invitation of Tender’ to own and operate new team
Any interested party wishing to submit a bid is required to purchase the ITT.
Updated - Aug 31, 2021 3:44 pm
The Governing Council of the IPL invites bids to acquire the right to own and operate 1 (one) of the 2 (two) new teams proposed to be introduced to take part in the Indian Premier League from the IPL 2022 season, through a tender process.
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, etc. are contained in the ‘Invitation to Tender’ (“ITT”) which will be made available on receipt of payment of non-refundable fee of INR 10,00,000 (Rupees Ten Lakhs Only) plus any applicable Goods and Services Tax. The ITT will be available for purchase till October 5, 2021.
Interested parties are requested to email at firstname.lastname@example.org to get further details for purchasing the ITT. The email requesting the ITT should have the subject line “ITT for the Right to Own and Operate One of Two Proposed New IPL Teams”. 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. BCCI reserves the right to cancel or amend the bidding process at any stage in any manner without providing any reason.
74 games to be played in IPL 2022
Meanwhile, with the addition of two new IPL teams, the next season will have a whopping 74 matches. Also, the BCCI is reportedly expecting to earn the profit of around Rs 5000 crore with two new teams adding up. The base price for the new franchises have been kept at Rs 2000 crore.
“Any company can buy the bid document paying ₹75 crore. Earlier top brass was thinking about keeping the base price for two new teams at ₹1700 crore but later it was decided to keep the base price at ₹2000 crore. The BCCI is expecting anything in the range of 5000 crore if not more. There will be 74 IPL games next season and it’s a win-win situation for everyone,” the source said according to Hindustan Times.