The Board of Control for Cricket in India (BCCI) has invited the tender to own one of the two new franchises in the Indian Premier league (IPL).
The party that would be interested will have to purchase an Invitation to Tender and make a payment of INR 10,00,000 plus GST before making their bid. The amount will be non-refundable.
"The detailed terms and conditions governing the submission and evaluation of bids including eligibility requirements, a 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 INR 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," the board said in a release on Tuesday (August 31).
"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."
The eligibility criteria though hasn’t been revealed in the release. The addition of a couple of more teams in the IPL was on the agenda of the BCCI during the AGM that was held in December last year.