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IPL 2022: Auction for new IPL teams to be held on October 17 - Report

The Indian Premier League 2022 would have two new teams and be a ten-team affair. Meanwhile, the auction for the new franchises will be held on October 17.

IPL 2022: Auction for new IPL teams to be held on October 17-ayh
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Mumbai, First Published Sep 14, 2021, 3:48 PM IST
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Things would change from the 2022 Indian Premier League, with the tournament set to get even more competitive. And, it would all happen in the form of a couple of new sides.

On August 31, the IPL Governing Council had invited bids for the two new franchises through the tender process. Meanwhile, the date for the auction has now been confirmed.

As per news agency ANI, sources have confirmed that the auction for the same would take place on October 17. The bidding is expected to get underway from the said date, while queries can be made until September 21.

ALSO READ: IPL 2022: BCCI to set base price for 2 new franchises at ₹2,000 crore, expects profit of ₹5,000 crore

IPL 2022: Auction for new IPL teams to be held on October 17-ayh

Considering the beginning of the tender process for the two new sides, BCCI had said in a statement, “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 non-refundable fee of ₹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.”

“Interested parties are requested to email at ittipl2021@bcci.tv 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’. 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,” it had added.

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