BCCI invites tender for one of two new IPL franchises

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,”

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