The Board of Control for Cricket in India (BCCI) has extended the deadline to purchase the ‘Invitation to Tender’ (ITT) document for the two new teams coming next IPL season till October 20, 2021. The apex board released a statement confirming the same.
Several parties showed interest in purchasing the document, which is priced at a non-refundable INR 10 lakhs (exclusive of goods and services tax). Therefore, originally, the board had decided to extend the date from October 5 to October 10. In the latest media release from BCCI, it has been revealed that October 20 is the deadline to purchase the document.
“Pursuant to requests from various interested parties, BCCI has now decided to further extend the date for purchasing the ITT document till October 20, 2021. The ITT will be available to interested parties on receipt of payment of the non-refundable tender fee of INR 10,00,000 (Rupees Ten Lac Only) plus any applicable Goods and Services Tax. All other terms contained in the Invitation document shall be applicable,” the statement from BCCI read.
“Only those satisfying the eligibility criteria in the ITT are eligible to bid” – BCCI
The Indian board has scheduled closed bidding on October 25 to decide the owners of the new teams. The financial criteria to be eligible to bid were kept at INR 2500 crore net worth and INR 3000 crore turnover. Failing to meet these mandatory requirements would make the interested party ineligible.
“Any interested party wishing to submit a bid is required to purchase the ITT. 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,” the statement further mentioned.
The base price for the new teams has been set at INR 2000 crores. The cities for a franchise’s base were shortlisted and it includes Ahmedabad, Lucknow, Guwahati, Dharamsala, Ranchi, and Cuttack.