The BCCI is seeking offers for a new IPL team.

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Friday, 3rd September 2021

On Tuesday, the Board of Control for Cricket in India (BCCI) released a tender document for the right to own and run one of the two new clubs set to join the Indian Premier League (IPL) in 2022. The document is complete and ready to be distributed to interested bidders.

The Invitation to Tender (ITT), which will be made available for a non-refundable fee of ten lakh plus taxes, contains the detailed terms and conditions governing the submission and evaluation of bids, including eligibility requirements, bid submission process, and the proposed new teams' rights and obligations. The ITT will be on sale till the 5th of October.

“Any party interested in submitting a bid must first obtain the ITT. Only those who meet the qualifying criteria outlined in the ITT, as well as other terms and conditions, are eligible to bid," said Jay Shah, BCCI secretary.

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According to a source acquainted with the situation, the tender can be purchased by enterprises with a worth of 3,000 crore or more. Furthermore, the starting point for bidding might be around Rs. 1,700 crore (the highest price at which the BCCI last sold a franchise, to Sahara in 2010).

It will be a sealed proposal, the source said, declining to be identified.

Potential bidders can send a letter to BCCI requesting clarifications on the tender document, which will be handled over the next month. For potential bidders to choose from, BCCI will provide the number of cities accessible in the current parameters. Following submission, the winning bids will be notified around the time of the knockout stage of the IPL 2021 edition in September-October.

It's possible that the two new teams will come from Ahmedabad, Lucknow, or Pune. The first two cities are thought to be the front-runners, since both appear to be more suited due to larger capacity grounds, such as Ahmedabad's Narendra Modi Stadium with a capacity of 110,000 and Lucknow's Ekana Cricket Stadium with a capacity of 50,000. The list of cities is yet to be released by BCCI.

At the moment, each of the eight IPL teams plays each other twice, with the top four teams qualifying for the final.

As the league has evolved and teams are generating strong annual revenue, 2,000 crore looks like a reasonable starting point for new team franchises, which might rise to 70 crore. I believe that a number of corporations are interested in riding the IPL wave, and I wouldn't be astonished if a bid of 4,000-5,000 crore is made. The media rights pact with BCCI is also scheduled to be renewed. As a result, there's a lot of money to be gained from the IPL," a prominent sports executive remarked on condition of anonymity.

Star India, the T20 league's official broadcaster, paid a total of Rs 16,347.50 crore for the 2018-2019 season, but only for 60 matches every year. The broadcast rights are scheduled to be renegotiated once two new clubs are added and the number of matches is expected to increase to 94. According to analysts, the new clubs will strengthen the whole IPL ecosystem by adding more players and support staff, as well as providing assistance to the local economy.

The News Talkie Bureau

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