The Board of Control for Cricket in India, on Tuesday, announced the release of tenders to own and operate Indian Premier League teams. Last year, the BCCI in its AGM approved the proposal to add two new teams to the Indian Premier League. From the 2022 season, the Indian Premier League will be a 10-team affair.
“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,” read the statement released by the BCCI announcing the tender.
The detailed terms and conditions regarding the eligibility, process, etc will be available in the ‘Invitation to Tender’ (ITT). The interested parties can purchase the ITT on receipt of payment of a non-refundable fee of INR 10,00,000 plus any applicable Goods and Services Tax. The ITT will be available to purchase till October 5, 2021, as per the BCCI statement.
NEWS 🚨 BCCI announces release of tender to own and operate IPL team.
— BCCI (@BCCI) August 31, 2021
The statement further read, “Interested parties are requested to 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.”
Seventy-four matches in the Indian Premier League 2022 season
The Indian Premier League 2022 season will witness 74 matches, due to the addition of two new teams in the tournament. The BCCI is expected to earn a profit of around 5000 crores with the addition of two franchises. As per reports, the base price for the teams has been kept at 2000 crore.
“Any company can buy the bid document paying ₹75 crores. 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 crores if not more. There will be 74 IPL games next season and it’s a win-win situation for everyone,” a source said according to Hindustan Times.