The Board of Control for Cricket in India has invited bids for two new teams which are set to be introduced in the 2022 IPL campaign. This ‘Invitation to tender’ or known as ITT will be available till 5th October and interested parties can send an email at the address email@example.com to submit their bids.
They have to submit an email with the subject line “ITT for the Right to Own and Operate One of Two Proposed New IPL Teams“. However, this ITT will only be available after an initial payment of rupees 10 lakh which is non-refundable.
Any interested party or person can submit a bid to purchase the rights of the newly introduced teams. However, they will have to mandatorily purchase the ITT. But all this is subject to the eligibility criteria and selection.
“The detailed terms and conditions governing the submission and evaluation of bids including eligibility requirements, process for submissions of bids, proposed new teams’ rights, and obligations, etc. are contained in the ‘Invitation to Tender’ (ITT) which will be made available on receipt of payment of non-refundable fee of Rs 10,00,000 (Rupees Ten Lakhs Only) plus any applicable Goods and Services Tax,” said the BCCI in an official statement.
India’s cricket governing board and IPL bring revenues in huge numbers to the Indian economy. With the addition of the two more teams, the profits and revenues are set to witness new heights.
The marquee Indian domestic tournament has been battling COVID-19 for the past two seasons. In the year 2020, IPL was held in the UAE behind closed doors, the next edition, which was arranged in India, had to be suspended mid-season indefinitely due to the outbreak of the deadly virus.
The second phase of IPL 2021 is all set to commence from 19th September in the UAE. The first fixture will be played between Mumbai Indians and Chennai Super Kings.