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- IPL 2022 Auction For 2 News Teams Will Take Place Oc October 17 Base Price Rs 2 Thousand Crores
New Delhi39 minutes ago
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From the auction of two new teams, BCCI can earn Rs 5 to 6 thousand crores.
From IPL-2022, the number of teams will increase from 8 to 10. These new teams can be auctioned on October 17. A deadline of September 21 has been set for the teams to receive bidding information. Tenders can be purchased till October 5. BCCI can earn from 5000 to 6000 crores from the auction of 2 new teams. With the increase in the number of teams, the number of matches will also increase. This will also increase the board’s income from media rights.
There will be no e-auction
According to BCCI sources, there will be no e-auction for the new teams. Closed bidding process will be followed as per old rule. The IPL Governing Council had invited bids for the new teams on August 31. The tenderer will have to pay a non-refundable fee of Rs 10 lakh. GST will also be applicable on this. According to the report, the base price of a team is 2000 crores. The cities whose teams can appear in IPL 2022 include Ahmedabad, Lucknow, Indore, Cuttack, Guwahati and Dharamsala.
Bid was called on 31st August
Interested parties have been asked to mail [email protected] to know more about the auction. The board has also said that mere purchase of tender forms will not entitle any party to participate in the auction. The Board will have the right to accept or reject the application. There will be no compulsion to give reasons for the same.
The number of matches will be decided later
With the arrival of two new teams, the number of league matches for each team could be 14 or 18. The number of matches in a season will be either 74 or 94. This decision will be taken by BCCI only after the names of both the teams are approved.
Net worth of at least 2500 crores is required
The first rule for the auction is that whichever company will invest money on the teams, they should have a net worth of at least 2500 crores and also the turnover of the company should be above 3000 crores. Also, even if 2-3 companies together bid on a team, then at least one of the three should have a net worth of around 2500 crores.