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IPL New Team Auction: Auction of 2 new teams of IPL will be held on October 17, 2022 from 10 teams

Highlights

  • BCCI may have a profit of Rs 5000 crore
  • 10 teams will participate in IPL 2022 instead of 8
  • The base locations for the new teams include Ahmedabad, Lucknow and Pune.

Mumbai
The Board of Control for Cricket in India (BCCI) is planning to conduct e-bidding for two new teams of the Indian Premier League (IPL) on October 17. Bids can be submitted till October 5 to buy the teams.

“The board is planning to bid on October 17 and it will be e-bidding,” a source close to the scheme said on Tuesday. The BCCI had floated the tender on August 31 for bidding for IPL franchises. Tenders can be submitted till October 5. The addition of two new franchise teams in the 2022 season of IPL could soon add at least Rs 5000 crore to the BCCI’s account.
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“The IPL Governing Council invites bids through a tender process to acquire the right to own and operate one of the two new teams proposed to participate in the Indian Premier League from the IPL 2022 season,” the board said in a statement. ‘

It said, “Any interested party who wishes to submit a bid shall purchase the tender invitation.” However, those who fulfill the eligibility as mentioned in the invitation of tender and fulfill other terms and conditions will be eligible to bid. It is clarified that mere purchase of tender invitation will not entitle any person to bid.’

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The base locations for the new teams also include Ahmedabad, Lucknow and Pune. The Narendra Modi Stadium in Ahmedabad and the Ekana Stadium in Lucknow can be the choice of the franchise as these stadiums have more capacity.

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