IPL 2022: BCCI Announces Tender For Two IPL Teams; Deets Inside

The IPL, which is currently an eight-team competition, will expand to a ten-team format beginning with the next edition, and the bidding procedure was outlined during a recent governing council meeting.

The IPL's governing body, the BCCI, issued an invited bid, with the "Invitation to Tender" available for purchase until October 5.

With the inclusion of two additional franchises during the 2022 season of the Indian Premier League, the Indian cricket board may soon become wealthy by about 5,000 crores (IPL).

The BCCI stated, "Through a tender procedure, the Governing Council of the IPL invites proposals to acquire the right to own and run one of the two new teams proposed to be added to compete in the Indian Premier League beginning with the IPL 2022 season."

The base price to bid for the teams:

Any firm can purchase the bid paperwork for Rs. 10 lakh. Earlier, top brass considered maintaining the basic price for two additional teams at 1,700 crores, but it was subsequently agreed to keep the base price at 2,000 crores.

As per the sources, BCCI stands to make at least 5,000 crores if the bids go as planned, with several major corporate firms showing interest in bidding.

Also Read: Tokyo Paralympics: Singhraj Adana Wins Bronze in 10m Air Pistol SH1

Firms with an annual income of 3,000 crores are eligible to bid

Many companies around the country are showing interest in bidding for the new teams. But, BCCI has kept some conditions that companies having annual revenue of Rs. 3000 crore would be eligible to bid for the teams.

Here are the expected two teams:

Ahmedabad, Lucknow, and Pune are among the possible locations for the teams.

With a larger capacity, the Narendra Modi Stadium in Ahmedabad and Ekana Stadium in Lucknow might be attractive to franchisees.

The Adani group, RPG Sanjeev Goenka group, Torrent, a well-known pharma firm, and a major banker have all expressed an interest in purchasing teams.