New Delhi: The Board of Control for Cricket in India (BCCI) on Tuesday invited buds bids to acquire the right to own and operate two new franchises for the 2022 IPL season.
“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. ,” said the BCCI in a press release.
“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 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,” it added.
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, the BCCI said.
The IPL will be a 10-team affair from the 2022 season with teams expected to be divided into two pots.
The last time that the IPL had 10 teams was in 2011 after Pune Warriors India and Kochi Tuskers Kerala were added.
However, the Kochi team was disqualified after it failed to pay the 10% bank guarantee element of the franchise fee.