The Indian Premier League (IPL) is all set to become a 10-team tournament from 2022 onwards. The Board of Control for Cricket in India (BCCI) has already started all the necessary procedures and processes. The BCCI has now issued a tender to secure the right to own and operate one of the two new teams for the IPL.
The interested candidates can purchase the tender documents for ₹10 lakh (US$13,700) by 5th October. Companies with an annual turnover of Rs 3000 crore will be allowed to bid for the teams.
“Any interested party wishing to submit a bid is required to purchase the ITT [invitation to tender]. 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,” a statement from the BCCI read.
BCCI expecting Rs 5000 crore revenue with the addition of two new franchises in IPL
The Times of India reported that the BCCI can get richer by at least Rs 5000 crore with the addition of two new franchises. Earlier, the top management were keeping the base price for two new teams at Rs 1700 crore. However, it was decided to keep the base price at Rs 2000 crore.
According to the Times of India, Lucknow (capital of UP) and Ahmedabad are likely to be the base for the two new franchises. Reportedly, Uttar Pradesh accounts for more than 50 percent of consumption of live cricket in the country on television. Whereas Ahmedabad is home to the world’s largest cricket stadium with a capacity of 1,32,000.
Some prominent names that have shown interest in buying the new IPL teams include the Adani group, RPG Sanjeev Goenka group, noted pharma company Torrent, and a prominent banker.
With the addition of two new teams, the format of the IPL may be altered. According to the Hindustan Times, the tournament could be divided into groups of five and the matches will be increased to 74.
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