The governing body of the Indian Premier League has invited bids for the owners of two new IPL teams. The owners of the two teams will be selected through a tender process and the two new teams will join the IPL from 2022.
“One can register by participating in the tender process by paying Rs. 1 million and after such registration, the Invitation to Tender will inform how the tender procedure will be implemented, the qualifications to be met by the bidder, and how to select the highest bid.” A press release issued by the Board of Control for Cricket in India stated.
You can register to participate in the tender process until October 5. According to Cricbuzz, the minimum bid for an IPL team is around Rs 2,000 crore. An official of the Board of Control for Cricket in India told Cricbuzz that a 15% stake in the Rajasthan Royals team had recently been sold for Rs 1,850 crore. The Rajasthan Royals have not been as good in the IPL in the last few years.
The Board of Control for Cricket in India (BCCI) expects a new IPL squad to exceed Rs 3,000 crore. Ahmedabad and Lucknow are the top cities to host the two new teams. The Board of Control for Cricket in India (BCCI) also expects bidding for teams to be held before the final of the 2021 IPL on October 15.
Under the new 10 team format, the IPL is planned to be played in two groups of five teams each.
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