BCCI announces tender to own IPL team

The tender is for owning and operating one of the two new teams proposed to be added from the next season

by exchange4media Staff
Published: Aug 31, 2021 3:36 PM | 1 min read

The Governing Council of the IPL has invited bids to acquire the right to own and operate one of the two new teams proposed to be introduced in the Indian Premier League from the 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 a non-refundable fee of Rs 10 lakh plus any applicable Goods and Services Tax. The ITT will be available for purchase till October 5, 2021,” read a statement issued by Jay Shah, BCCI Secretary.

“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,” the statement read further.