IPL 2022 is set to be a grand one from next year, and the tournament will once again feature a total of ten teams competing against one another. BCCI already confirmed this news, and now they are planning to have close bidding for these new IPL teams on October 17. Whereas the bids to buy the sides will be open till October 5. 

The BCCI released “Invitation to Tender” on August 31, and it will be available for purchase till October 5. BCCI revealed an officials statement in which they revealed that the Governor Council of IPL invites bids to obtain the rights of one of the two new teams that will take part in IPL 2022 through a tender process. Anyone who is interested in submitting a bid has to purchase the ITT. 

The council also made it clear that only those who satisfy the eligibility criteria will be eligible to bid. Only purchasing the ITT does not entitle any person to bid. Currently, Ahmedabad, Pune, Lucknow, Cuttack, Indore, and Guwahati are available for bidding. Out of these six venues, Ahmedabad and Lucknow are the favorites to be finalized as the two new teams.

IPL 2022: Eligibility Criteria To Buy New Teams

BCCI released the eligibility criteria to buy the new teams as well. According to it, each bidder should have a net worth of Rs 2500 crores, whereas the company’s turnover must be Rs 30 crores. Also, BCCI will allow only three or fewer partners in the case of consortium. This will be the first stage of the bidding. Once the legal department is satisfied with the bidder’s eligibility criteria, they will move forward to bid financially for two to six cities.

According to the reports, Sanjiv Goenka of the RPSG Group, who initially owned the Pune franchise, bought the ITT. This time he was interested in buying the Lucknow franchise. Adani Group has also shown its interest in buying a new team for IPL 2022. 

It is also confirmed that a mega-auction will take place ahead of the start of IPL 2022. However, still, there is no certain news on player retention. The words are going around that in the upcoming IPL, the teams will be able to retain only three players. 

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