E-bidding for two new IPL teams on October 17

The bidding for the two new Indian Premier League teams will take place on October 17.

According to reports, Ahmedabad, Lucknow, Indore, Cuttack, Guwahati and Dharamsala are the cities available for bidding for the two new IPL teams. The BCCI is planning to have an e-bidding for the new IPL teams, with Ahmedabad's Narendra Modi Stadium and Ekana Stadium in Lucknow, with bigger capacities, the likely choice for the franchises.

Some of the business houses doing the rounds include the Adani group, RPG Sanjeev Goenka group, noted pharma company Torrent and a prominent banker who has shown active interest in buying teams.

Interestingly, while the last day for queries in regards to bidding for the teams is September 21, the bids can be picked till October 5.

"The bidding is set to take place on October 17 while queries regarding the same can be made till September 21," an official informed.

The IPL Governing Council had on August 31 invited bids to acquire the right to own and operate 1 (one) of the 2 (two) new teams proposed to be introduced to take part in the tournament from the 2022 season, through a tender process.

"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 INR 10,00,000 (Rupees Ten Lakhs Only) plus any applicable Goods and Services Tax," the BCCI had said in an official release.

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. BCCI reserves the right to cancel or amend the bidding process at any stage in any manner without providing any reason.