The Board of Control for Cricket in India (BCCI) announced the tender to own one of the two new Indian Premier League (IPL) franchises on Tuesday. In particular, the summit of the Indian council has decided to include two new teams in the cash-rich league from the 2022 edition in the annual general meeting (AGM) held on 24 December last year.
BCCI discloses the tender details, which state that the interested party must purchase an invitation to tender (ITT) by paying a non-refundable amount of INR 10,00,000 plus GST before he / she can make a bid. The ITT, which will be on sale until 5 October 2021, contains terms and conditions regarding suitability requirements, the process of submitting bids, proposed rights of new teams, etc.
The Governing Body of the IPL invites bids to acquire the right to own and operate 1 (one) of the 2 (two) new teams through a tender. process. The detailed terms and conditions for the submission and evaluation of tenders, including suitability requirements, a process for the submission of tenders, proposed rights of new teams and commitments, etc., are contained in the ‘Invitation to Tender’ (“ITT”), which will be made available upon receipt of the payment of a non-refundable fee of INR 10,00,000 (only ten lakhs) plus any applicable tax on goods and services. The ITT is available until 5 October 2021, ” said BCCI in an official release.
‘Any interested party wishing to submit a bid must purchase the ITT. However, only those who meet the eligibility criteria set out in the ITT and subject to the other terms and conditions therein may bid. It is explained that only the purchase of this ITT no person is entitled to bid, ” added the advice.
Meanwhile, the the remaining matches of IPL 2021 resume from 19 September in the United Arab Emirates (UAE), with reigning champions Mumbai Indians (MI) accept winners three times Chennai Super Kings (CSK) in the opening match in Dubai.