According to reports, the Board of Control for Cricket (BCCI) is planning to hold the
auction for two new IPL franchises on October 17, just two days after the scheduled
completion of the IPL 2021 season
Interestingly, while the last day for queries in regards to bidding for the
teams is September 21, the bids can be picked till October 5.
Speaking to ANI, sources in the know of developments confirmed the same. “The
bidding is set to take place on October 17 while queries regarding the same can be
made till September 21,” the source said.
The Governing Council of the Indian Premier League (IPL) had on August 31 invited
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 tournament from the 2022 season,
through a tender process.
“The detailed terms and conditions governing the submission and evaluation of bids
including eligibility requirements, the 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
BCCI had said in an official release.
The ITT is available for purchase till October 5. Interested parties have been
requested to send an email at [email protected] 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.