The new teams are expected to be unveiled on October 25 in Dubai.© Twitter
BCCI on Wednesday extended the deadline to procure tender documents for new Indian Premier League (IPL) teams till October 20 and for another 10 days and reliable sources said that the cost of each of the two new franchises will not be less than Rs 3500 crore. The IPL’s governing council had on August 31 issued an ‘Invitation to Tender’ (ITT) document on payment of a non-refundable tender fee of Rs 10 lakh. Earlier it had extended the date till October 10. Various interested parties, BCCI have now decided to extend the date of purchase of ITT documents to October 20, 2021.”
The BCCI plans to add two teams for the 2022 edition and is expected to be based in Ahmedabad, Lucknow or Pune.
It is learned that major business houses like Kotak Group, Aurobindo Pharma, Torrent Pharma, RP-Sanjeev Goenka Group, Birla Group and Adani Group are keen to join the IPL bandwagon, which is a case of eight teams so far.
The BCCI is hoping to earn at least Rs 7000 crore, though the base price for each team has been set at Rs 2000 crore.
The Indian Cricket Board is allowing three-party associations to submit bids.
The new teams are expected to be unveiled in Dubai on October 25, a day after India’s clash with arch-rivals Pakistan In T20 World Cup.
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