BCCI announces the release of tender to own and operate the IPL team
The Board of Control for Cricket in India, on Tuesday, announced the release of tenders to own and operate Indian Premier League teams. Last year. The BCCI in its AGM approved the proposal to add two new teams to the Indian Premier League. From the 2022 season, the Indian Premier League will be a 10-team affair.
Sports industry experts have said– a backer may have to commit to a $300 million. Budget to get a franchise as well as pay fees upfront. But major Indian groups including the Adani mining. And trading conglomerates are said to be waiting to enter.
“The IPL Governing Council invites bids through a tender process to acquire the ownership. And operation rights of one of the two new teams proposed to participate in the IPL 2022 season,” the IPL said. Is.” in a statement.
Candidates have until October 5 to ask for tender details and a decision could be made the same month. The IPL did not say when the competition for the second team would be launched.
The Indian Premier League is said to bring billions of dollars to the Indian economy each year. The IPL has battled with the coronavirus pandemic for the past two years.
The 2022 edition will not be the first time the IPL will comprise 10 teams. That already happened a decade ago after the Pune Warriors and the Kochi Tuskers. The team was added to the original roster of eight franchises in 2011. It has been confirmed that the tournament format will follow the 2011 model. These scrapped the simple home-and-away format and included a total of 74 matches.