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, 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.
Interested parties are requested to email at email@example.com 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.
74 games to be played in IPL 2022
Meanwhile, with the addition of two new IPL teams, the next season will have a whopping 74 matches. Also, the BCCI is reportedly expecting to earn the profit of around Rs 5000 crore with two new teams adding up. The base price for the new franchises have been kept at Rs 2000 crore.
“Any company can buy the bid document paying ₹75 crore. Earlier top brass was thinking about keeping the base price for two new teams at ₹1700 crore but later it was decided to keep the base price at ₹2000 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,” the source said according to Hindustan Times.
Here are the cities in line to become base for new franchises
While the 2021 edition of the Indian Premier League (IPL) isn’t concluded yet, many eyes are on the 2022 edition. After all, two new teams are set to come in the picture, making IPL a 10-team tournament. Notably, eight sides have been part of the gala competition since the 2014 season. Hence, it will be interesting to see how the tournament expansion pans out.
Notably, the Board of Control for Cricket in India (BCCI) is set to roll out the tender document to invite bids for the two new franchises. With IPL being arguably the most celebrated T20 competition worldwide, many prominent firms and business tycoons are in line to become own the teams. As per reports, the two biddings of both teams will start at INR 2000 crore. Hence, BCCI can be expected to add over INR 5000 crore to their kitty.
Meanwhile, the bases of the two new teams haven’t been finalised yet. As per the Times of India, Ahmedabad and Lucknow are the front runners to become new bases due to the stadium in the venue. Earlier this year, world’s largest cricket infrastructure, the Narendra Modi Cricket Stadium was inaugurated in Ahmedabad, Gujarat. It has a capacity of over 1.10 lakh.
The capital of Uttar Pradesh – Lucknow – can also become the base of the new city. The city has a world-class infrastructure in the form of the Atal Bihari Vajpayee Stadium, also called the Ekana Cricket Stadium). A dense population in the city would further prompt BCCI to consider Lucknow.
Cities like Nagpur, Raipur, Pune, Visakhapatnam, Ranchi are also in fray to become part of IPL. However, none of these venues are likely to be considered over Ahmedabad or Lucknow. Meanwhile, companies with only INR 3000 crore turnover can bid franchises. Hence, it will be interesting to see how the auction pans out.
Meanwhile, cricket fans are currently waiting for the second leg of IPL 2021. The gala competition gets underway on September 19 with all the remaining matches taking place in the United Arab Emirates. With half of the season already done and dusted, the tournament won’t be the same for all eight teams. While some will fight for survival, a few are on the verge of securing a place in the playoffs.