New IPL team auction to take place on Oct 17

15 September 2021, 11:41 am
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The bidding for the two new Indian Premier League teams is set to take place on October 17. 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, source said.

The Governing Council of the Indian Premier League (IPL) 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.

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