IPL New Teams: Postponement notwithstanding, BCCI to unveil two new IPL teams on October 25

IPL New Groups tender: Postponement however, BCCI to unveil two new IPL groups on October 25; 14 companies choose up paperwork

IPL New Groups Tender: 2 new groups to be unveiled on Oct 25 – The Board of Management for Cricket in India (BCCI) will unveil the 2 further groups for IPL 2022 on October 25 regardless of extending the deadline to buy the ITT (invitation to tender) paperwork twice.

It’s value noting that the Governing Council of the IPL had issued the ‘Invitation to Tender’ (“ITT”) doc accessible on fee of the non-refundable tender charges on August 31, 2021 and BCCI had first prolonged the date to October 10 after which once more to October 20.

Additionally Learn: IPL New Groups Tender will get delayed another time, BCCI extends the tender shopping for date to October twentieth

IPL New Groups Tender: Postponement however, BCCI to unveil two new IPL groups on October 25

“BCCI has now determined to additional lengthen the date for buying the ITT doc until October 20, 2021. The ITT can be accessible to events on receipt of fee of the non-refundable tender charge of INR 10,00,000 (Rupees Ten Lac Solely) plus any relevant Items and Companies Tax. All different phrases contained within the Invitation doc shall be relevant,” the BCCI assertion mentioned.

InsideSport has learnt that one of many companies that wish to have an IPL staff in 2022 requested the BCCI to increase the deadline because of many contentious factors. Considered one of them is the calculation of the web value of a person. The BCCI has mandated Rs 2,500 crore internet value for people and Rs 3,000 crore turnover for a corporation.

Additionally Learn in Hindi: IPL New Groups: आईपीएल की दो नई टीमों के टेंडर में फिर देरी, अब तक 14 पार्टियों ने आवेदन किया, जानिए पूरी डिटेल्स

The Indian board is shocked with the curiosity tender is producing and anticipate bid to go north of 3500 Cr. “The curiosity for the brand new groups is best than anticipated. We’re shocked by the response. We anticipate the bid to go above Rs 3500 Cr vary for every staff,” mentioned one of many high BCCI officers.

IPL New Groups Tender: BCCI’s stringent restrictions

  • Potential bidders can’t type a consortium of greater than 3 companions
  • One of many consortium associate ought to have Rs 2,500 crore internet value & a minimal annual turnover of Rs 3,000 crore.
  • Base value to take part within the tender Rs. 2000 Cr
  • Potential bidders who qualify within the technical bid can be allowed to take part within the monetary bidding.
  • One occasion can bid for 2 cities with Ahmedabad, Lucknow, Indore, Cuttack, Guwahati and Dharamsala shortlisted for the 2 new groups.
  • Moreover, the groups can be liable to pay 10% yearly for 10 years and 20% after 10 years. In trade, BCCI can be sharing 50% of income from the central pool after each season.

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