Tender for IPL New Teams: BCCI is expecting a bumper Diwali, with two new IPL teams set to be announced by mid-October.
Tenders for new IPL teams will be released in August: The Board of Control for Cricket in India (BCCI) and the Indian Premier League will have a very special Diwali this year (IPL). Not only will the BCCI complete the remaining 31 IPL 2021 matches in the UAE by the middle of October, but it will also complete the unfinished business of naming the two new IPL franchises for the following season. BCCI will issue tender paperwork for two additional clubs by August, according to current information, and will ratify the new teams by the middle of October.
The bid opening procedure for the additional teams would coincide with the final of the IPL 2021 Phase 2 in the UAE, according to a report by TOI. As a result, the IPL 2022 will be bigger, with more matches and a longer timeframe, as it will be contested with ten teams rather than eight.
The main concern for BCCI at this point is what should be the tender’s basic price. The BCCI had planned to retain the basic pricing for new IPL clubs at 1500 crores till last year, but recent investments in Rajasthan Royals at a relatively high value have changed the dynamics for the BCCI.
Last month, Liverpool investors RedBird Capital Partners, which owns shares in Liverpool’s parent company and the Boston Red Sox, revealed that they had purchased a 15% investment in the IPL team Rajasthan Royals for an unknown sum. The franchise’s enterprise value was estimated to be between $250 million and $300 million, according to sources.
The basic price of future IPL franchises may be in the range of 2000 crores or more, according to this deal.
In June, we talked with several of the top board executives and were advised that no formal decision on the basic pricing had been made.
“We haven’t formally addressed the base pricing for the new teams yet.