BCCI invites tender for one of two new IPL franchise

New Delhi, Aug 31: The Board for Control of Cricket in India (BCCI) has announced the tender to own one of the two new Indian Premier League franchises. The interested party will have to purchase an Invitation to Tender by paying a non-refundable amount of INR 10,00,000 plus any applicable GST before making their bid. Before, making their bid, the party has fit in the ITT.

 

 

"The detailed terms and conditions governing the submission and evaluation of bids including eligibility requirements, a 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," the board said in a release on Tuesday (August 31).

 

 

"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."

 

 

The release, however, did not reveal the details required to satisfy the eligibility criteria. It should be noted that the addition of two new IPL teams was listed in the BCCI agenda in their AGM, which was held on December 24 last year. The decision was approved BCCI's general body, which includes state associations, after their meeting in Ahmedabad.

 

 

Among the venues where the teams could be based include Ahmedabad, Lucknow and Pune. Some of the names that are doing the rounds include the Adani group, RPG Sanjeev Goenka group, noted pharma company Torrent and a prominent banker who has shown active interest in buying teams.