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The bidding process for the two new Indian Premier League (IPL) franchises began on Monday in Dubai with ten parties submitting their bids to own a team at one of the six cities
After a long wait we finally have the new IPL teams for the 2022 season. RP-Sanjiv Goenka group gets Ahmedabad IPL team for Rs 7090 crore and Irelia Company Pte Ltd gets Lucknow IPL for Rs 5166 crores
The bidding process for the two new Indian Premier League (IPL) franchises began on Monday in Dubai with ten parties submitting their bids to own a team at one of the six cities — Ahmedabad, Lucknow, Cuttack, Dharamsala, Guwahati and Indore.
Among the high-profile bidders to put their name in the hat, directly or through consortiums, were the owners of Premier League club Manchester United, the Adani Group, Torrent Pharmaceuticals, Hindustan Media Ventures Pvt Ltd, RP-Sanjiv Goenka Group, Capri Global and one Singapore based Irelia Company Pte Limited.
The agency that once represented the former India captain MS Dhoni, Rhiti Sports Management, has bid for one of the two new IPL teams.
According to Cricbuzz, all the parties have been asked to submit two envelopes — one for personal and financial credentials and the second for the bid. The Board of Control for Cricket in India (BCCI) has said its legal and audit officials would first check the credentials and only after they are in order, will the second envelope, containing the bid, would be opened.
The BCCI twice had extended its ‘Invitation to Tender’ and had extended the deadline till October 20th, so that Manchester United can take part in the bidding process.
Initially, 22 companies picked up the tender document worth Rs 10 lakh but only ten parties placed their bids.
The base price for the new teams was Rs 2000 crore.
The 2022 edition will not be the first time the IPL will comprise 10 teams – that already happened a decade ago. It has been confirmed that the tournament format will follow the 2011 model, which scrapped the simple home-and-away format, and included a total of 74 matches (instead of the current number of 60).
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