The Indian Premier League Governing Council has formally invited bids to acquire the right to own and operate one of the new two teams that are being introduced in the 2022 season of the mega tournament through a tender process.
Board of Control for Cricket in India (BCCI) has published a media release stating that the rules and regulations governing the submission of the bid including eligibility of the same, the requirements, the process for submission of the bids, the new team’s proposed rights etc. are posted in the Invitation to Tender (ITT) and will be available only at a receipt of payment of a non-refundable fee of 10,00,000 INR (Rupees Ten Lakhs Only) plus any applicable Goods and Services Tax. The ITT will be available to purchase from the 5th of October.
NEWS 🚨 BCCI announces release of tender to own and operate IPL team.
— BCCI (@BCCI) August 31, 2021
The interested parties have been asked to e-mail at [email protected] to get more details about purchasing the ITT. However, only those who fulfil the eligibility criteria and other terms and conditions that are written in the ITT can submit a bid. It is noted that merely purchasing the ITT does not allow or entitle any person/entity to bid for the team
BCCI still holds the right to cancel or change the bidding process at any stage in any manner without even providing a valid reason. The remainder of the 2021 IPL tournament will start on the 19th of September and will end on 15th October. The next season will have 2 more teams being added to the tournament. The location and the team names are still a mystery but the modalities of the bidding process have been worked out by the Governing Council.