IPL New Teams Auction: E-Tendering unlikely, BCCI set to conduct physical auction to select new teams on October 17
IPL New Teams Auction – IPL 2021: E-Tendering unlikely for selecting new teams, BCCI likely to conduct physical auction on October 17…
IPL New Teams Auction – IPL 2021: E-Tendering unlikely for selecting new teams, BCCI likely to conduct physical auction on October 17 – The Board of Control for Cricket in India (BCCI) is all set to revert to the physical bidding process for IPL new teams. Last two big tenders i.e BCCI Media Rights tender & BCCI Title Sponsorship tender, both have been executed via e-auction mechanism. But to select the new IPL teams BCCI is all set to revert to physical bidding process i.e via bid given via sealed envelopes. According to the available information with InsideSport.co – the bidding for the new IPL teams can take place on October 17th in Dubai, just two days after the finals of IPL 2021.
“The bidding is set to take place on October 17 while queries regarding the same can be made till September 21,” a source told ANI.
IPL New Teams: E-Tendering unlikely for selecting new teams, BCCI set to conduct physical auction to select new teams on October 17
IPL New Teams Auction – IPL 2021: As the BCCI has opened a temporary office in UAE for IPL 2021 and the T20 World Cup, it is expected that the physical auction will take place in the desert country. However, the board hasn’t yet notified the potential bidders about the venue yet.
As per the ITT document prepared by BCCI, potential bidders can mail their queries about the document & tender process only till September 21.
October 5 is the last date to purchase the bid documents
October 17 is the likely date for the IPL New Teams Auctions
Last month, BCCI invited applications for two new teams for IPL 2022. “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.
InsideSport.co was the first platform to inform that the base price kept in the tender document has been fixed at Rs 2,000 crore. Not only this but some more stringent conditions will have to be fulfilled by the potential bidders to participate in the tender.
- Potential bidders can’t form consortium of more than 3 partners
- One of the consortium partner should have Rs 2,500 crore net worth & a minimum annual turnover of Rs 3,000 crore.
- Base price to participate in the tender Rs. 2000 Cr
IPL New Teams Auction – IPL 2021: Potential bidders who qualify in the technical bid will be allowed to participate in the financial bidding.
One party can bid for two cities with Ahmedabad, Lucknow, Indore, Cuttack, Guwahati and Dharamsala shortlisted for the two new teams.
Furthermore, the teams will be liable to pay 10% every year for 10 years and 20% after 10 years. In exchange, BCCI will be sharing 50% of revenue from the central pool after every season.
InsideSport had earlier reported that Sanjeev Goenka’s RPSG has already picked the tender. A Singapore based hedge fund also has picked the tender document along with Hyderabad based phamaceutical company. Adani Group whose name was prominently doing the rounds is yet to pick the tender document as per the latest information available with InsideSport.co