The Board of Control for Cricket in India (BCCI) has announced the tender to own one of the two new Indian Premier League (IPL) franchises on Tuesday. Notably, the apex Indian board had decided to include two new teams in the cash-rich league from the 2022 edition in the Annual General Meeting (AGM) held on December 24 last year.
BCCI released the tender details, which mentioned that the interested party would have to purchase an Invitation to Tender (ITT) by paying a non-refundable amount of INR 10,00,000 plus GST before making their bid. The ITT, which shall be available for purchase until October 5, 2021, includes terms and conditions regarding eligibility requirements, the process for submitting bids, proposed new teams’ rights, etc.
“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, a 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 a 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,” said BCCI in an official release.
“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 Board added.
Meanwhile, the remaining fixtures of IPL 2021 will resume from September 19 in the United Arab Emirates (UAE), with reigning champions Mumbai Indians (MI) taking on three-time winners Chennai Super Kings (CSK) in the opening game in Dubai.