The Board of Control for Cricket in India has extended the timelines to complete the bidding process for allocation of two new franchisees of the Indian Premier League. The BCCI has initiated the tender process to add two more teams to the IPL on August 31st.
The Governing Council of the IPL had issued the ‘Invitation to Tender’ (“ITT”) document available on payment of the non-refundable tender fees on August 31. The interested parties were had to buy the tender documents latest by October 5. The deadline has now been extended by five days.
Pursuant to request from interested parties, the BCCI has now decided to extend the date for purchasing the ITT document till October 10, BCCI honorary secretary Jay Shah had confirmed in a release.
The ITT will be available to interested parties on receipt of payment of the non-refundable tender fee of ₹10,00,000 (Rupees Ten Lac Only) plus the application goods and services tax. All other terms contained in the Invitation document shall be applicable.
Interested parties were advised to email at i[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”.
The BCCI will conduct an e-bidding to allocate the franchise rights for the two new teams on October 17.
The IPL with the completion of the tender process will become a ten-team affair from the 2022 season.
The bidders will have the option to pick the franchisee for the cities of Lucknow, Ahmedabad or Pune.
The Adani Group, RPG Goenka Group, which had in the past owned the Pune franchisee of the IPL for two years, pharmaceutical brand Torrent and a renowned banker are reported to be among the interested bidders.