IPL 2022 New Teams: BCCI sets October 5 deadline for submitting tender – The Board of Control for Cricket in India (BCCI) has announced tender for two new IPL teams that will be inducted in the IPL 2022. With interests from various parties including from Adani Group and RP-Sanjiv Goenka Group, the BCCI has set October 5 deadline to submit bid documents.
“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 BCCI said in a statement.
As per information available with InsideSport, BCCI expects not less than Rs 5,000 crore for two new teams in the IPL 2022. While the BCCI release didn’t specify the base price, it has been learnt that the base price has been set at Rs 2,000 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. IPL teams are a great investment and have given the initial investors great returns. We don’t think base price of 2,000 Cr is too much and we expect to get 3000-3500 Cr per team from the sale”, a top BCCI official told InsideSport.co.
For the time being, the interested parties will have to purchase bid documents at a non-refundable fee of Rs 10 lakh.
“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,” the BCCI statement read.
BCCI statement: 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.
More to follow…