BCCI has announced the tender to own one of the two new Indian Premier League franchises. The interested party will have to buy an Invitation to Tender by paying a non-refundable amount of INR 10,00,000 plus GST before making their bid.
BCCI has stated that “The detailed terms and conditions governing the submission and evaluation of bids including eligibility requirements, a 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 a non-refundable fee of INR 10,00,000 (Rupees Ten Lakhs Only) plus any applicable Goods and Services Tax. The ITT will be available for purchase till October 5, 2021,”
